SiteMinder Reveals Five Steps To Resetting Hotel Reservation

INTERNATIONAL REPORT — A new report from customer acquisition platform SiteMinder reveals that there are five stages waiting for nearly one million accommodation providers worldwide until their reservation cycle returns to normal.

“From Booming to Privilege: The New Realities for a Hotel Industry in Need of a Reset” is SiteMinder’s six-month study of the latest traveler behaviors and preferences, which concludes that the five steps to resetting a reservation hotel are domestic acceleration, capping, flow, embrace and international acceleration.

According to the Five Stages, the global hotel industry recently entered Stage 3 of the flow after hotel bookings peaked between 50% and 55% of 2019 levels for 12 consecutive weeks. They fell below 50% yoy on September 27 and currently stand at 49.66% yoy.

SiteMinder’s study relies on real-time reservation data for 35,000 hotels from its World Hotel Index; survey responses from over 5,000 travelers in Australia, France, Germany, Italy, Mexico, Spain, Thailand, UK and US; and hotel interviews. It comes six months after SiteMinder saw global hotel bookings drop below 9% of 2019 levels in April, their lowest point in recent history.

“The question everyone traveling has asked themselves this year is whether the industry will ever be completely back to what it was, and we now know it will be in some ways, but in many ways. ‘In other ways, it will be different, maybe permanently, ”said Mike Ford, managing director, SiteMinder. “Our study documents the journey we have all taken so far and the journey we all take now, whether we realize it or not.”

The report outlines the biggest travel trends that have emerged this year, including the dominance of last minute bookings and the growing divide between urban areas and less populated coastal or regional towns that SiteMinder first reported in May. . Other macroeconomic trends include the shortening of travel times and the demand for greater flexibility with the ranking of ‘free reservation cancellation / change’ as the most important factor for almost a third of travelers when choosing of their accommodation.

“We live in a democratized economy with no travel and accommodation providers and no travelers under control,” Ford said. “COVID-19 has been the ultimate equalizer. For now, travel is no longer a booming industry of endless travel that we can take for granted. Traveling is once again a privilege, which means that the future of every hotel is one of more demanding customers and shorter deadlines. The predictable seasonality is over.

The study reveals that although the current pandemic has negatively affected the financial situation of more than three in four travelers, either “a lot” or “rather”, more than 85% say they are likely to make their next domestic trip. before 2021. end of the year.

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