Happier Times Ahead: HENRYs (High Earner, Not Rich Yet) Are Keen To Cautiously Return to Pre-Pandemic Travel Behaviors. — Maru Group

HENRYs are committed to discretionary travel spending despite shifting life priorities

While it is an activity that many HENRYs enjoy and have dedicated meaningful portions of their budgets to in the past, some find themselves in the early stages of child rearing. Accordingly, they have shifted their travel priorities and are leaning towards family-friendly destinations. For some, the difficulty of identifying travel options that are suitable for young children has resulted in less travel than desired. Nevertheless, there are still some perennial favorites for HENRYs who are also parents, namely Disney.

HENRYs seek out opportunities to maximize the value of their vacations

Notwithstanding their otherwise liberal spending behavior, HENRYs demonstrate a more frugal approach to travel. They are avid loyalty program subscribers, and seek to capitalize on those points as much as possible when traveling for pleasure. Not surprisingly, the large hotel brands are referenced, namely Marriott, Starwood Preferred Guest, and Hilton. When redeeming points is not an option, HENRYs will invest their time to seek out the lowest rates for both airfare and accommodations, ensuring that most of their funds can be used for the experiences during their trips. For some, the availability of attractive rates has even influenced their chosen destination.

HENRYs are eager to return to travel but will do so cautiously

While HENRYs are keen on the idea of traveling in a post-pandemic environment, consistent with their more considered approach to such expenses, they intend to do so with caution, likely even to a greater degree than the average traveler. They’re looking forward to the opportunity to relax, with some longing for the day that they can enjoy the warm weather on a care-free beach vacation. One HENRY said, “I would like to go to some beach, doesn’t matter where. I just want to get in the ocean, have a drink and walk in the sand.” The chance to travel is seen as a return to “happier” times, but there are also clear expressions of nerves and anxiety, as well as a reluctance to travel without widespread vaccination and the removal of quarantine requirements.

  • How will attitudes toward Airbnbs and similar less established accommodations change in light of the pandemic, even once the majority of the public has been vaccinated?
  • To what degree might there be hesitation in using accommodations that are run by more private players who may not follow as strict of standards in maintenance as the large hotel companies?
  • What other behaviors are likely to stick from the pandemic that could influence wants and needs for travel?

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Maru helps its clients make informed decisions in real-time by combining proprietorial software, deep industry experience, and unique IP in system 1 apps.

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Maru = Software + Advisory Services

Maru = Software + Advisory Services

Maru helps its clients make informed decisions in real-time by combining proprietorial software, deep industry experience, and unique IP in system 1 apps.