With Easter only weeks away, it’s time to ask if your business is ready to enter the peak travel season. With budgets being squeezed, travelers are seeking value-driven experiences and prioritizing cost-saving measures, meaning that hotels must adapt swiftly to avoid being left behind.
In this blog post, we explore four key travel trends in 2024 and how your hotel should be seizing the opportunities they present.
In response to shifting travel patterns and preferences, the concept of ‘shoulder season’ travel is booming. According to recent data, 41% of travelers report that high seasons are lasting longer, with more individuals opting to explore destinations during the months either side of the traditional tourism ‘peak’. This trend reflects a desire among travelers to avoid peak crowds and discover "hidden gems" while still enjoying favorable weather and cultural experiences. For hotels, this presents a unique opportunity to capitalize on extended high seasons by offering enticing promotions and packages tailored to travelers looking to escape the crowds and immerse themselves in authentic experiences.
What it means for your hotel: Capitalize on travelers looking to stay before the season by offering compelling experiences likely to sell out later in the year.
In light of economic uncertainty, travelers are looking to secure discounts through early reservations. The sweet spot for scoring these discounts? Five months before the intended travel dates, according to industry experts. By booking well in advance, travelers can lock in favorable rates and secure their preferred accommodations, mitigating the impact of rising prices and inflation. For hotels, this trend underscores the importance of acting early to attract budget-conscious travelers. Hotel websites typically represent an underutilized asset here: travelers are researching more, and are more internet-savvy than ever. They want to book direct where they can, so optimizing SEO and your hotel’s social media presence are likely to pay dividends.
What it means for your hotel: Capture early demand for the high season by using rich imagery and content on your hotel website to improve your SEO.
While price is unavoidably a key factor in travelers’ minds, online reviews come in a close second. Research indicates that a staggering 44% of travelers rely on reviews to select their accommodations, highlighting the critical role of reputation management in today's competitive hospitality landscape. As travelers prioritize value and seek assurances of quality amidst economic uncertainty, positive reviews serve as a powerful endorsement for hotels, driving bookings and fostering trust among potential guests. In response, hotels must prioritize guest satisfaction and actively solicit feedback to cultivate a positive online presence and stand out in a crowded marketplace.
What it means for your hotel: Make sure you’re set up to closely track reviews and ratings from your guests, then learn what works by trying different ways to add value.
As hotels contend with downward pressure on room rates due to cost-conscious travelers, and need to find ways to bolster their five star reviews, ancillary revenue streams take on heightened importance. Recent data reveals that over half (54%) of travelers are willing to pay for accommodation upgrades, underscoring the potential for ancillary offerings to both enhance the guest experience and boost hotel revenues. Increasingly hotel performance is being assessed at the asset level as opposed to the room level. So, from premium dining options in your hotel restaurant to offering experiences and activities as add-ons, hotels must leverage ancillary offerings strategically to maximize revenue and differentiate themselves in a challenging market landscape.
What it means for your hotel: Whether in-house or from external providers, think about how you offer activities and experiences that go beyond the room - data shows it’s one of the strongest ways to boost guest satisfaction and RevPAR.
Going into the 2024 high-season, hotels need to be adopting a proactive approach in order to respond to evolving trends, and capitalize on emerging opportunities. Now is the time for hotels to take decisive action, ensuring they remain agile and responsive to the evolving needs and preferences of today's travelers.
In less than a week you could be selling and managing all your experiences online.
