Why travelers may have to settle for alternative vacations...

The average daily room rate for hotels and short-term rentals surged in the summer of 2021 fueled, in part, by pent-up demand and shifting travel trends as travelers swarmed to beach resorts and other popular outdoor destinations. Experts say elevated demand should continue this upcoming holiday season, which could result in travelers facing higher average daily room rates (ADR) and more competition when booking in key markets. 

"If you haven't booked your Christmas, New Year's Eve beach vacation or a ski resort vacation ... you gotta get to it," said Patrick Scholes, a lodging analyst for Truist Securities, a corporate and investment banking company. "There is incredible demand right now, and it's way ahead of comparative levels of 2019. … You're going to get sticker shock."