The hotel industry has had a difficult couple of years, but it appears that the sun has finally broken through on the horizon. With travel demand increasing—46% of consumers said travel is more important to them now than it was before the pandemic – this provides more hotel advertising opportunities than in previous years. Our most recent custom research provides us with in-depth insights into what travelers want, the latest hotel trends, and what travel professionals prioritize.
Whether you own a small hotel or work as a hotel revenue manager for a large chain, our findings will help you understand current trends in the hospitality industry.
Let’s take a closer look at the trends we’re seeing this year. and how this can assist you in developing
the best marketing strategies to help you build and grow your business.
Traveler and hotel industry trends:
11,000 consumers and 1,100 travel professionals from 11 major markets participated in our study. We’ve learned from their responses that travelers and perspectives have shifted as the pandemic has subsided. After the first wave of the pandemic had passed, hotels successfully promoted their efforts to ensure that cleanliness was a top priority in order to alleviate travelers’ concerns. One of our research’s key findings is that travelers are less concerned with health and cleanliness than they were previously. While safety and cleanliness are still important, lower prices are now more important than minimizing Covid exposure, and exceptional experiences are seen as worth the cost of travel.
The top three priorities for travelers when booking travel are:
1. Low pricing
2. Ability to get a full refund
3. Flexible cancellation policies
Many hotel professionals (77%) implemented new pricing structures, and refund and cancellation policies to adapt to the pandemic's unpredictability. Furthermore, 96% of these hotel professionals stated that they still provide refundable services or hotel credits to be used at a later date. Based on what we’ve learned about travelers’ top priorities, it’s clear that these policies are still important to many. While price is top of mind for travelers, many industry professionals do not see it in the same light. More than half of consumers prioritize cost, but only about a quarter of industry professionals do. This cost-conscious approach to booking travel is still prevalent: 60% of consumers say getting the best price is the most important factor when looking to book.
People are also traveling for a reason. Physical and mental health (49%), a change of scenery (49%), and making up for lost time (46%), are the top motivators for travelers. Consider how you can link cost savings at your property to the motivators cited by customers. Can you, for example, highlight low-cost stays that offer a relaxing, retreat-like atmosphere, or deals that combine experiences like scuba diving with exotic beachside accommodations?
Business and international travel:
International travel has grown in popularity, with 50% of consumers planning to travel internationally within the next 12 months or having already booked a trip. This is a good sign because only 12% of people had the same travel plans in mid-2020.
Business travel is also up:
One-third of consumers intend to travel for business. With the increase in business travel comes the return of leisure (extending a work trip) and fixations (remote work extended stays). This allows you to connect with leisure travelers looking for a vacation experience or to appeal to remote workers by emphasizing local experiences and sharing insider tips about the area.
Sustainability and accessibility
When it comes to booking, travelers are concerned with sustainability and inclusivity: 70% of consumers said they are more likely to choose more inclusive travel options – and this is where consumers deviate from price sensitivity, saying they would choose inclusive options even if they were more expensive. When it comes to sustainability, two out of every three consumers said they want to know what policies are in place.
Thank you reader for reading our blog do visit us for more exciting travel blogs and tips.