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April 12, 2017
What Spring Trends Do Hoteliers Need to Know to Maximize Their Bookings and Margins?
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With trivagoÕs 1.4 billion annual searches, we see many clear trends in user search behavior and preferences. From that data*, we ascertained some best practices for hoteliers to follow when marketing their properties and setting their price strategy. What follows are a few factoids and infographics as they relate to spring trends 2017. *data gathered from all trivago.com searches in the USA between 01.19.2017 and 03.11.2017, for the period of 04.13.2017 and 04.17.2017. What are guests willing to pay per night? Guest preferences are as varied and diverse as are their choice of hotels to choose from. Within these preferences, there are some clear indicators on how much money guests are willing to pay, depending on the nature of the accommodation. What kind of accommodation are you? Does your pricing strategy reflect the figures below? If your rates are lower than this, then perhaps you are missing out on revenues. However, if your rates are significantly higher than the average for your star rating and you have lots of empty rooms, then a price adjustment to something more in-line with the below findings might be something you want to consider.  How does location impact price per night? The average room rate per night in New York City is nearly equal to that of the national average 5-star hotel nightly rate. Of course, not everyone visiting New york City is staying at a 5-star accommodation, so what does this figure reveal? What this chart tells us is that New York City and Miami Beach hotels are pricier destinations per room night than the national average and therefore guests are going to fall more solidly into either the category of willing to splurge, or being very price-sensitive once they arrive. You should be ready with upselling opportunities, but also be able to offer local deals and opportunities for bargains at the concierge. On the other side, destinations such as Las Vegas and Myrtle Beach are well below the national 3-star average price, which suggests they are looking for the best deals in these areas and will be more open to greater spending on their whole trip experience. New York City is on average 266% more expensive per night than Las Vegas, which is the most affordable average price in the USA. What is interesting to note in the next section, is that despite being the most expensive, New York City is the top-searched destination. Las Vegas, being the most affordable destination in this assessment, is the 2nd most searched destination on trivago.com.  Where are guests looking to book this spring? Despite the high price associated with a New York City trip, it takes 1st place in sought after destinations in the USA. With Las Vegas and Orlando following in 2nd and 3rd place, respectively, it is clear to see that travelers are willing to go big for the Big Apple, but are searching for steeper deals when visiting cities known more for their world-class and family-friendly attractions, or which have beach proximity.  Which star ratings are guests most attracted to? With nearly equal volume, 3-star and 4-star hotels are the most clicked hotels on trivago in the USA. If your hotel is in these categories, then know that it is very important to shine out against your competition. Search for yourself on trivago and see how your hotel is represented. Is every detail perfect? Is every image high quality and in the optimal arrangement? Take control of your trivago profile by creating a free account on the trivago Hotel Manager.  Timing is everything When thinking about your pricing and marketing strategies, how far out in advance are you planning? In the USA, travelers are on average searching for their accommodations 40 days before their trip. For every holiday, festival, attraction, and special event in your area, you need to be marketing yourself at least this far in advance in order to capture the greatest volume of guests possible.  Are you doing everything you can? Copyright 2017 trivago. All rights reserved. From http://www.hotelmanager-blog.trivago.com. By Judson Moore.
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