"how do i get more bookings?"
One of the questions we get all the time, “How do I get more bookings?” This is a very good question, but the answer is not totally straightforward. With the digital revolution of travel, we have now created a massive online web of resources and booking channels. Study data revealed 91% of travelers turn to search engines when looking for a hotel. According to Google, 60% of leisure travelers and 55% of business travelers use search engines to plan their trips. Property managers have an ever-growing responsibility to build a company brand, supported with a strong SEO & SEM strategy. Ensuring your brand is well positioned in search engine results is the first step to gaining online exposure. As travel planning begins, one in five travelers are destination agnostic. Using search engines like Google, travelers perform upper-funnel searches hoping to be inspired by a travel brand, Instagram blogger, a new destination or an exciting vacation package.
The hotel segment also impacts how many average touch points a traveler makes on their path to purchase. Luxury travelers, for example, conduct more hotel searches on average than more economical segments. Almost all segments see at least half of their searches done on mobile. For more budget conscious hotel segments, some brands see more than 75% of their searches made on mobile. Luxury hotels on the other hand, see lower shares of searches done on mobile, averaging 45% of all searches. However, this lower share is still indicative of an overall huge query growth.
Based upon the consumer use of sites like Airbnb and Booking.com to book accommodation, guests have learned to expect that they can book instantly, as they do for flights and hotels. They don’t have the patience to inquire and negotiate with property managers to hear if a property is available. Channels have realized this and have pressured property managers and hotels to accept “instant bookings”. By enhancing the guest experience when booking accommodation online, they are ultimately increasing the booking potential.
Consumer adoption is accelerating, with one-in-five travelers already using peer-to-peer sites for business travel, and nearly half of those indicated that they have substituted what would have been previously a hotel stay with a home stay. The vacation rental industry is finding itself at yet another turning point in history. Online distribution channels have consolidated, with four major players taking the lead: Airbnb, Booking.com, HomeAway and TripAdvisor. Based upon the vacation rentals’ industry data, in 2012 OTA channels accounted for around 35% of online bookings, with a majority of bookings were made directly with property managers or owners. By 2016, this share has grown to 63%, and is forecast to grow to 75% in 2018.
Current day we are dealing with an OTA-driven vacation rental market, with OTA’s such as HomeAway showcasing over 1.5 million online bookable listings. As the number of integrated properties continues to grow as we move through the year, connectivity becomes an important aspect of growing your bookings. At Lexicon Travel Technologies, we work to strategically place client properties across our network of industry-leading distribution partners. Our streamlined, intuitive solutions make it simple to gain exposure to a large audience and quickly grow bookings. Lexicon is much more than a basic channel manager. Our customized packages feature premium software tools and services specifically designed to grow property occupancy and ADR, year-over-year. Do you need to increase bookings!? We look forward to working with you and your team!
Join the movement.
#lexicontraveltech #lexicon #jointhemovement #wordstockblog #traveltechnology #distributiontechnology #hotelbookings #independenthotels #wednesdayblog #wednesdaywordblog #vacationrental #vacationproperties #timeshare #vacationresorts #traveltech #travelblog #traveltechblog #travelblogger #bloggersofinstagram #writersofig #socialmedia #facebook #instagram #twitter #socialtravel #happyhumpday