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Greenville Business Magazine

The Business Narrative: Travel Findings

Aug 30, 2022 01:33PM ● By David Dykes

TravelBoom Releases 2022 Leisure Travel Trends Study

TravelBoom, a data-driven digital marketing agency in Myrtle Beach for hotels, resorts, and vacation rental companies, released its annual leisure travel trends study after recently surveying more than 2,000 travelers in 2022.

The results reveal startling changes in the travel planning and booking behavior as impacted by rising costs, the overall economy, continuing Covid-19 risks, and technology.

The study examines travelers' mindsets and behavior from the inception of the idea to travel all the way through to how they interact with their chosen destinations before, during, and after their stay. It also shows vital metrics and specifies year-over-year guest booking preferences and behavior changes.

TravelBoom's 2022 Leisure Travel Trends Study provides key insights such as:

Rising costs are impacting travel plans. 36 percent of travelers say they may cancel planned vacations due to budget concerns.

Travelers are doing more online research than ever before. The average traveler looks at 5.5 websites during their booking process doing more research than ever before.

Factors impacting travel plans are shifting. Transportation costs, amenities, and loyalty programs are just a few factors that can affect a traveler's decision.

Covid-19 continues to influence travel. 55 percent of the population still considers the pandemic before booking travel. Only 13.5 percent of American leisure travelers say Covid-19 is a major influence on travel, compared to 45 percent of Canadian travelers.

Reviews have never been more important to travelers choosing where to stay. 82 percent of travelers will not book a property without having first read reviews.

Vacation rental sites are taking a bite out of the online travel agencies (OTA). VRBO and Airbnb are growing significantly in use, at the expense of the OTAs.

"Leisure travel continues to be one of the most impacted industries in the post-pandemic period and consumers are very conscious of inflation, lingering Covid-19 concerns, along with high expectations for destinations and accommodations," said Pete DiMaio, COO of TravelBoom.

"Our annual Leisure Travel Trends study allows us to better understand the consumer mindset and purchase journey so that we can adapt our marketing strategies to a greater impact."

To download a copy of TravelBoom's 2022 Leisure Travel Trends Study, click here.

Alex. Brown Realty, Biynah’s Transportation-Related Industrial Portfolio Continues to Grow

Alex. Brown Realty (ABR) and Biynah Industrial Partners, LLC (BIP) have added four additional assets to its nationwide portfolio of truck terminals and flow-through industrial assets.

The joint venture is actively pursuing additional opportunities to expand the portfolio, which now includes 14 assets.

The joint venture’s latest acquisitions include three truck terminals with a total of 105 dock doors and a 5.3-acre drop yard in Winston Salem, N.C. The truck terminals are located in Louisville, Kentucky (45 doors), Tampa, Fla. (32 doors), and Charleston, S.C. (30 doors).

Alex. Brown Realty is an independent real estate investment manager specializing in value-add and core-plus investments in the middle market.

The firm was founded in 1972 by the partners of Alex. Brown & Sons, a Baltimore-based investment bank organized in 1800. Since the inception of the firm, ABR has acquired over $4 billion of assets, representing over 400 transactions.

ABR has sponsored five real estate funds and is currently marketing its sixth fund. The firm is an SEC-registered investment advisor.

Biynah Industrial Partners, LLC is a Minneapolis-based private equity firm that makes direct investments in industrial real estate located throughout the United States.

Truist Wealth Expands Digital Investing Capabilities

Truist Wealth has expanded its digital investment offerings with Truist Invest, a robo advisor, and Truist Invest Pro, a hybrid investing solution that combines automated investing with access to a team of financial advisors.

Officials said Truist Invest helps a client identify their goals, risk tolerance and existing investments to create a tailored portfolio recommendation.

Once an account is opened, clients benefit from a daily portfolio analysis which drives opportunities for automated rebalancing and tax loss harvesting. Clients can also make changes to their preferences on demand to adapt to their changing financial situation and needs.

Truist Invest Pro is a hybrid investment solution that combines the digital capabilities of Truist Invest with advisor-driven advice.

Officials said with Truist Invest Pro, clients gain unlimited access to a team of financial advisors who can help build a personalized portfolio and provide investment advice.

A Truist Invest or Truist Invest Pro account can be opened online in minutes with as little as $5,000.

Clients can access their account details and activity in Truist online banking and the mobile app, and contact support teams whenever they need them.

Annual fees are 0.50 percent for Truist Invest and 0.85 percent for Truist Invest Pro, calculated based on the assets under management with a $90 per account annual minimum.

Visit Myrtle Beach to Launch New Chefs Reality TV Show

Visit Myrtle Beach has partnered with The WorkShop Content Studios to develop Chef Swap at The Beacha new cooking competition television series that will highlight the culinary talents of chefs throughout the Grand Strand.

As host and judge, Chef Amanda Freitag will pull chefs out of their resident kitchens and swap them into each other's restaurant to prepare a new dish for evaluation by a panel of judges.

Chefs won't know which kitchen they'll be in or what they'll be preparing – an appetizer, entrée or dessert – but they will, however, be able to take one ingredient with them.

Chef Swap at The Beach will premiere on The Cooking Channel on Oct. 1, 2022 at 7 p.m. Eastern.

The fast-paced 30-minute show will run for a series of six episodes airing on consecutive Saturday nights until early November.

Chef Amanda will be joined by judges Johanna Wilson Jones, a Myrtle Beach-based food writer and culinary connoisseur, and Dylan Foster, chef and owner of Two Sons Seafood, in selecting the winning chef and dish for each episode.

For more on Chef Swap at The Beach including behind-the-scenes show photos, featured restaurant locations, chef tips and more on the destination's culinary scenego to

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]