Millennials have caught the eye of travel marketers for a good reason: by 2018, they are expected to overtake Baby Boomers as their numbers rise to 73 million and the older generation declines to 72 million, according to the U.S. Census Bureau’s projections.

But that’s not all. Members of this group, defined as those born been 1981 and 1996, are expected to have a greater impact on travel and tourism than any other generation, according to a new report from Resonance Consultancy. And MMGY Global estimates that ten percent of U.S. millennials plan to travel more in the future.

These and other statistics were gathered by the travel news site Given millennials’ importance to travel and resort companies, advertisers and marketers, the site pooled the following list of this burgeoning generation’s characteristics and habits when searching, planning and actually taking trips:

  • Millennials value experience over material possessions and view travel more as a necessity than a luxury.
  • Family travel ranks highest for millennials’ vacation plans, the Resonance study found: 58 percent of those surveyed have children under 18 and that 44 percent travel with their kids.
  • Trips to cities ranks is favored by this generation. “Where travel agents can provide real value,” quotes Resonance President and CEO Chris Fair saying, “is in making recommendations on family-friendly hotels, restaurants and experiences within cities.”
  • When booking travel, 64 percent of millennials do so on travel websites, 47 percent on hotel, resort and airline sites; and 24 and 23 percent, respectively, with travel agents and Airbnb.
  • Family and friends’ social media postings are extremely important in influencing millennials’ destinations, but magazine and newspaper articles on travel also inspire their choices.

Understanding this huge audience—and knowing where it’s headed—are key to successful travel marketing and advertising strategies.