The summer travel season is in full swing as millions of Americans continue to move around through the air and roadways. Cheddar news was joined by James Farrara, President and Co-founder of Inteletravel to break down everything you need to know about the state of the travel industry.

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Your Summer Travel Season Update

the summer months typically mean vacation time for millions of americans. So many stayed on the ground this past weekend as thousands of flights were canceled while flying across the pond looks like a trip chip Things are not what they seem when it comes to paying for airfare. They're joining us now to talk more about summer travel season as James Ferrara President and Co founder of Intel travel. So James, how many Americans traveled this past July four weekend and just how bad were the number of cancelations compared to recent memory. Thank you. Good morning. Um this July four weekend was supposed to be our biggest test ever and in fact about 48 million travelers traveled this past weekend as opposed to 49 million in 2019, only about 2% off the pre pandemic records. But July four is different, 88% of that was by car, only about 7% by air because you know, we like to stay home in barbecue on on july 4th weekend. It's not the same as the earlier weekends in june we did hit a one day record a pandemic post pandemic one day record on friday july 1st where we had about 2.5 million air travelers that day. But overall we had, here's the good news, half the cancelations and delays that we had in those prior weekends in june. What's going to be the real test is these weekends coming up because july 4th is really a little different. Well what are travel costs looking like right now and americans willing to pay up to move Well travel costs are not looking great. We are up about 50% airfares over this time last year and hotel rates are up about 25% occupancy is up to gas is down. So there's some good news there and it's expected to continue To fall but still compared to last year it's at least 35% higher, maybe as much as 50% higher as last year. The thing is travelers are undeterred, they're just out there traveling anyway even with these conditions. Okay I searched the graham it seems like everybody's in europe right now. You know every picture is posted. Is it cheap to fly there right now And if so what are the details? So the Euro hit an all time low this week we're almost parity €1 for $1. That's historic. We haven't been this low in 20 years. So americans have huge purchasing power in europe and and great Britain also. So it'll feel like your dollar will go further. Just remember there's inflation there too and in fact it's worse so that takes a little bit away out of the benefit. There are long lines, there are delays, airports are really worse as things are getting better in the U. S. They're kind of getting worse. Airport strikes the bankruptcy of the Scandinavian carrier S. A. S. So there are opportunities in europe and a lot of places that train is looking like the best option actually but your dollar will go further in europe. It'll feel like you're getting a lot more for a while now and this, this is expected to continue the drop in the value of europe James. A big thank you to you James Farrar, president and co founder of Intel, A Travel.