Travel is back, with many destinations exceeding pre-pandemic levels, however, there is a great deal of “sticker shock” when clients reach out to begin the planning process. We are consistently seeing pricing 40% higher than before the pandemic, in many cases 40% is on the low end. That said, this week I wanted to talk about price vs. value when it comes to investing your vacation budget.
“Price is what you pay, value is what you get.” ~ Warren Buffett
When looking at two trips, that on the surface look similar, it’s extremely important to dig a little deeper and really make sure that you’re comparing apples to apples.
For instance, while considering an Italian vacation that includes a few nights in Rome and a visit to the Vatican museum, two seemingly similar itineraries can actually be quite different.
Option #1 may have a lower price tag, but when you dig deeper into the itinerary you’re actually staying about an hour outside of Rome and during your two night stay you only get one full day in Rome. With the hotel location and travel time involved to get in and out of the city that doesn’t leave you much time. Oh, that trip to the Vatican museum? It’s optional, which means the cost isn’t included in the price, and it doesn’t offer “skip the line” privileges, so most of your day is lost standing in lines. Another apparent cost saver comes at the exclusion of lunch and dinner. You’re on your own for those, which does give you the option to explore on your own to perhaps discover your new favorite Italian bistro, but more often than not has you settling for the nearest or quickest option after you’ve looked at menu after menu and run out of time trying to decide on a restaurant.
Option #2 may have caught you a bit off guard with a higher price point than you expected. So let’s drill down a little bit to see why it appears so much more expensive. Oh look, the hotel is in the center of town, you’ll be able to walk to the major attractions! This tour also includes a trip to the Vatican museum, so you won’t have to stand in line to pay for a ticket. Wait a second! Does this say that you’ll be visiting the museum when it’s normally closed to the public? You will have a much more intimate experience without those crowds the museum is famous for. Did you notice that a full breakfast is included daily? Lunches and dinners, while not offered every day, are included several days during your visit. Gratuities are also included so you won’t find a tour guide or luggage attendant with their hand out every time you turn around.
Aside from price and value, the other considerations that a travel professional can assist with are the pace of the itineraries you are comparing. A vacation that spends several nights in a location before moving onto the next is going to offer a far more immersive and enriching experience than one that moves to a new city or even a new country each night.
A travel professional can match your travel style to the vacation that will not only maximize your travel budget, but exceed your expectations, all while taking overwhelm out of the equation. Let us know if we can help you get started.