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SiteMinder’s new Hotel Booking Trends report, a hotel commerce data analysis of more than 36,000 hotels and 450+ connected booking integrations, has revealed travelers booked their trips on average eight days earlier, and canceled their bookings 17% less year-on-year in 2022, despite a 24% increase in the averagedaily hotel room rate.
Additional data from SiteMinder’s Hotel Booking Trends indicated that the averagelength of stay is also on the rise, with 2022 recording longer stays than previous years. This was particularly true for Spain in summer, which had the longest averagestaylength in August.
With their scale and global reach OTAs provide hotels with a cost-effective way to increase bookings on a pay-per-performance basis. This is why their commission rates should be seen as a smart investment for your business.
SiteMinder’s new Hotel Booking Trends report, the only hotel commerce data analysis of more than 35,000 hotels and 450+ connected booking integrations, has revealed travellers booked their trips on average eight days earlier, and cancelled their bookings 17% less year-on-year in 2022, despite a 24% increase in the averagedaily hotel room rate.
These metrics encompass a wide range of areas, from financial figures like revenue per available room (RevPAR) and averagedailyrate (ADR) to operational aspects such as occupancy rates and guest satisfaction scores. It can be calculated by multiplying your averagedailyrate by your occupancy rate.
The report highlights the following insights: AverageDailyRate (ADR) & Occupancy Among independent properties, hotel rates increased slightly from 2019 to 2020 and continued to grow in 2021 and 2022. In 2022, pent-up demand for travel shifted the balance back in favor of OTAs, and reached 2019 levels again.
The best channel managers allow you to seamlessly connect with all of your OTAs and channels, and give you clarity and control over all pricing. Channel management Optimise the revenue potential of all your booking channels with a dedicated solution.
When done effectively, personalization can help hotels earn more bookings, higher averagedailyrates (ADR) , and better online reviews. They typically reserve directly with the hotel or through an online travel agency (OTA) or travel agent at non-negotiated rates. Personalization comes from knowing your guests.
The use of yield management should factor in the costs of channels – from GDSs, OTAs, wholesalers, meta search sites and property websites to direct calls – and therefore how to better yield your inventory by channel, customer and more. What are the elements of hotel yield management?
For hotels, that involves collecting and analyzing data across various sources, including your hotel website, social media channels, online travel agencies (OTAs), surveys, and more. Basic KPIs include averagedailyrate (ADR) , occupancy (OCC), revenue per available room (RevPAR), and averagelength of stay (ALOS).
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