The report, SiteMinder’s Hotel Booking Trends – Summer 2024 Edition, studies hotel reservations made for stays between June and August, in 10 of the largest tourism markets within the Northern Hemisphere, including the US as well as Austria, Canada, France, Italy, Mexico, Portugal, Spain and the UK.
Within the US, the data shows:
- International arrivals have accelerated. While international arrivals are set to rise by 10% year-on-year across the hemisphere, they are projected to jump by 16% in the US to mark the second largest increase in any country, trailing only Mexico.
- Travelers have booked their stays further in advance. The average lead time has grown to 139 days, from 134 days in 2023.
- The average daily rate (ADR) has decreased by 3%, from $338 last summer to $328 this year. Of all countries contained within SiteMinder’s report, this signifies the only year-on-year reduction in summer prices.
- The length of stay has extended, with guests to average stays of 2.11 nights, compared to 2.07 nights in 2023.
Jason Lugo, Market Vice President for the Americas at SiteMinder, says the findings signal a strong summer ahead for US properties. “Summer has arrived, and while domestic travelers still form the majority of hotel guests, the spike of scheduled international arrivals from the likes of Canada, Germany and the UK will bring with it longer stays and lead times,” says Lugo. “To capitalize on this season, hoteliers would do well to focus on a revenue management strategy that allows them to operate dynamically and ensure speed-to-market. It is always vital, but especially during critical demand periods such as summer, to revisit all aspects of your revenue management strategy, from your pricing to the distribution channels you’re using to target your ideal guests, to the communications you’re sending to upsell guests. Using the right revenue technology is so important in this way.”
SiteMinder’s Hotel Booking Trends – Summer 2024 Edition is based on the booking data of SiteMinder’s platform, which last year processed more than 120 million bookings valued at more than $50 billion in revenue for its hotels.
Tags: Jason Lugo, SiteMinder
