Americans are going abroad in droves — at the expense of domestic travel

The contention for question dollars is heating up, and the U.S. is losing out.

Airlines and edifice chains successful caller weeks person reported a surge successful bookings for planetary trips — on with rising prices.

That's a boon to companies with planetary offerings, but a caller situation for airlines, taxable parks and hotels that are much focused wrong the U.S. arsenic travelers progressively opt for locations overseas astatine the disbursal of home destinations.

International airfare is averaging $962, up 10% from past twelvemonth and 26% from 2019, according to fare-tracking institution Hopper. Domestic airfare, meanwhile, is falling. Roundtrips wrong the U.S. are down 11% from past twelvemonth and 12% from 2019 astatine an mean terms of $249.

The displacement is being felt astatine hotels too: Room rates for Europe hotels averaged $148.88 successful the archetypal fractional of the year, up astir 14% from past year, portion U.S. edifice rates roseate conscionable 6% from the aforesaid play a twelvemonth earlier to $154.45, according to information from CoStar, the genitor institution of hotel-industry investigation steadfast STR.

Nightly rates astatine luxury hotels successful Paris, for example, roseate much than 22% successful the archetypal fractional of the twelvemonth from a twelvemonth earlier, portion luxury edifice rates successful Orlando, Florida, roseate conscionable 0.2%, CoStar information show.

Marriott International connected Tuesday said second-quarter gross per disposable country roseate 6% twelvemonth implicit twelvemonth successful the U.S. and Canada. The maturation successful planetary markets was much than 39%.

Nightly rates for Marriott luxury properties, similar JW Marriott, The Ritz-Carlton and Edition successful the U.S. and Canada ticked 1% down twelvemonth implicit year.

Marriott concern main Kathleen Oberg said the inclination started much than a twelvemonth ago, and noted that customers present person much options for places to go.

"That's wide that erstwhile you look astatine the question patterns this twelvemonth that determination is simply a large exodus of Americans going implicit to Europe and different places successful the world," she said connected the company's second-quarter net telephone connected Tuesday.

Jesse Inman is 1 of those travelers opting for trips abroad. The 29-year-old, who near a bundle income occupation earlier this twelvemonth to physique a workplace with his begetter successful North Carolina, is successful the mediate of a weekslong travel to Israel, the U.K., Austria and France.

Inman said helium spent $1,839 connected his 2 flights betwixt the U.S. and Europe. He said helium would person expected that benignant of travel to outgo a 3rd of that full based connected what helium utilized to wage earlier the pandemic.

"The information that I'm spending a period successful Europe is going to halt maine from taking immoderate home trips successful the adjacent future," Inman said. Some trips helium had been considering — but could forgo — see visiting friends successful Atlanta, the Denver area, and Austin and San Antonio successful Texas. He besides said helium mightiness chopped backmost connected skiing this winter.

Investors are starting to perceive from amusement parkland operators connected the outlook for their businesses. Cedar Fair connected Thursday reported a diminution successful attendance for the 2nd 4th but an summation successful profit. Six Flags Entertainment reports adjacent week.

Last week, Comcast said taxable parkland gross roseate 22% from a twelvemonth agone to much than $2.2 cardinal successful the astir caller quarter, though it registered a slowdown astatine its Universal parks successful Orlando. The institution blamed that connected tougher comparisons.

"In Orlando, it truly compares precise good to pre-pandemic. We're evidently down connected attendance, which was benignant of unprecedented [...] coming disconnected of Covid," Comcast President Michael Cavanagh said connected an net telephone past week. "So not amazed by that softening. That said, we're astatine levels of attendance and per caps being amended truthful that overall, we consciousness bully astir what we're seeing successful Orlando."

The emergence successful planetary question is bully quality for passengers who are looking for deals person to home — but atrocious quality for airlines that person U.S.-heavy schedules.

JetBlue Airways connected Tuesday chopped its guidance for the existent 4th and 2023, citing a surge successful planetary long-haul question that's hurting the carrier, whose web is mostly focused connected the U.S. market, the Caribbean and parts of Latin America (though it has offers service to London, Paris and Amsterdam).

"We've seen a greater-than-expected geographic displacement successful pent-up Covid request arsenic the spot successful request for agelong planetary question this summertime has pressured request for shorter-haul travel," JetBlue CEO Robin Hayes said connected the company's net telephone earlier this week.

Budget hose Frontier said the instrumentality of planetary long-haul question would instrumentality a 3-point wound retired of its margins, though CEO Barry Biffle said the inclination could soon moderate. The carrier's second-quarter gross from fares per rider fell 26% to $47.59 twelvemonth implicit year.

Southwest Airlines besides disappointed investors with its outlook past week. And Alaska Airlines, which is besides focused connected the U.S. market, noted a displacement toward planetary destinations from home this year.

"We judge pent-up planetary request has had the effect of a larger excavation from would beryllium home travelers than has historically been the case," Alaska's main commercialized serviceman Andrew Harrison, said connected an net telephone past week.

Meanwhile, airlines similar Delta Air Lines and United Airlines person been ramping up their planetary work to capitalize connected strong request for trips abroad that executives expect to proceed into the fall, with planetary gross maturation acold outpacing home gross growth.

"Our planetary strategy is conscionable performing outstandingly," Andrew Nocella, United's main commercialized officer, said connected an net telephone past month. "There's not similar a azygous portion of the globe, a azygous portion of the web that's not working."

Airline stocks person declined from caller highs this net play arsenic executives item a displacement successful user preferences.

The NYSE Arca Airline scale is down astir 10% truthful acold this quarter, portion the S&P 500 is up astir 1.5%.

— CNBC's Gabriel Cortes contributed to this report.

Disclosure: Comcast owns NBCUniversal, the genitor institution of CNBC.