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Hotels can afford to be greedy as 2021 enters its final quarter

10/15/2021| 6:56:20 PM| 中文

Last minute group is not bargain hunting either. They’re spending to travel where they want to go, when they want to go there.

“A bird in the hand is worth two in the bush.” This wise saying has stood the test of time for a good reason, it cautions the greedy among us to value what they already have rather than chase after something with higher value but more risk. 

The cautious and even not-so-cautious among hotel marketers have likely heeded this statement throughout the last year and a half as demand for hotel rooms has ebbed and flowed in a confounding pattern.

The predictable travel behaviors of the past are no longer, and hotel marketers have formed a habit of attracting the bookings that they can in the short term in case something changes in the future for the worse. As a result, traditional revenue management strategies have fallen by the wayside.

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TAGS: Last minute booking | transient travel | hotel revenue management | RevPAR
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