In the ever-evolving world of the hospitality industry, staying competitive and relevant is paramount. The key to thriving in this dynamic environment is understanding the changing expectations of travelers and adapting your distribution strategy accordingly. One strategy that can have a significant impact on your business is adding rates and availability on Expedia Group websites a year or more in advance. A recent survey conducted by Expedia Group revealed that 25% of their travelers are comfortable booking their travels more than a year in advance. This trend reflects the changing preferences and priorities of modern travelers. It’s crucial to tailor your distribution strategy to meet these changing demands.
Janet Chen, General Manager at Beimen WOW Poshtel, consulted with her Expedia Group market manager to find new strategies to fill beds in a competitive market. Her market manager recommended a long-term booking strategy: add rates and availability up to 12 months in advance and offer an ‘early-bird’ discount as an extra booking incentive for guests.
After Janet took these steps, she saw a 150% increase in net room nights and a 392% increase in revenue. Read her story here.
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*Source: Expedia Group Traveller Value Index, Spring 2022 Outlook