Part of an assignment on Hospitality IT on 6th June 2008
Hotel online
Here is an interesting article on booking pace, confirming the trend of people being hesitant on booking their holidays even into classical holiday destinations and in high season as well.
Some hotels of the indicated article are experiencing slow downs and shortages in legth of stay mechanisms.
Another observation is that people are getting more price sensitive and cost-conscious.
Two obvious reasons are the higher fuel prices and the economical challenges in the USA.
Please place your comments if you have additional input.
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6 comments:
it may be quite true in this period of rising oil prices
I do not think that people are getting more price sensitive and cost conscious. I believe that people are changing their leisure travel habits. They travel less days but more times.
This article let me reflects on the current trend in the Brussels market, where the lead time is becoming shorter and shorter and several hotel chains are decreasing the rate few days prior to the date. Probably gests are becoming aware and taking advantage of this, and some revenue managers forgot that dumping the rate is never a good solution in terms of RevPar maximization.
I agree on what Jose Luis says, travelling shorter...travelling more. But the american recession let me think also on the long-distance travels. In Italy we are experiences a very bad year since US is one of the most feed market for us.
I think it is a couple of things. Sure people are more hesitant to spend money right now, and so they think last minutes means better deal. They are also looking for new destinations as well. The places that we have always considered as solid destinations have a new challenge to rise to.
I agree Evert, OIL is a magnet which attracts all the industries by force. So,everybody directly or indirectly afected
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