Data-driven Analysis of Key Metrics
Duetto has launched the Duetto Pulse Report, a free, data-driven analysis of key metrics including bookings, cancellations and web traffic in Europe, the Americas and Asia Pacific.
The inaugural report, launched today, shows there is some light on the horizon, with clear indications of some traveler confidence returning before the end of this year.
Actionable Insights To Prepare For Recovery
Duetto is committed to providing all hoteliers with access to actionable insights to help them prepare for recovery. Our industry is in crisis right now with many hotels closing or with single-digit occupancy, but we need to be thinking about and planning for the recovery. Hoteliers who are preparing a strategy for recovery today will be best positioned to capitalize on early demand.” – David Woolenberg, CEO of Duetto.
The U.S. data shows cancellations flatten for stay dates from August 2020 and booking figures for October 2020 are already on pace with 2019.
The U.S. began implementing travel restrictions from China on Jan. 31. By March 13, the country had declared a national emergency and had announced travel restrictions from Europe.
As cities across the United States began implementing social distancing measures, these policies had a direct consequence on booking and cancellation activity. Hotels across the U.S. were hit by a flood of cancellations in the 2nd week of March.
Reservations By Stay Date
The Duetto Pulse Report for March 30-April 5 shows clear indications that travelers intend to resume travel as soon as possible.
The report, which shows week over week changes, reveals that U.S. booking reservations made between March 30-April 5 show the remainder of 2020 will remain depressed compared to 2019 figures. However, by April 2021, the figures start to show parity, with reservations made for May, June, July and August 2021 all showing gains against the same time the previous year. These gains are potentially due to seasonal business shifting to next year.
Return of Traveler Confidence Is Encouraging
When it comes to canceled status bookings, cancellations actually flatten by August, with 2020 figures for canceled bookings dropping below 2019 figures for August 2020 through to April 2021, suggesting a higher degree of traveler confidence for the tail end of this year.
The bookings pace shows U.S. hotels could creep ahead of last year’s figures from October 2020. Again, a strong indication that travelers hope to resume their travel plans before the end of this year.
Hoteliers Can Subscribe To Get Free Reports From Duetto
The Duetto Pulse Report is based on weekly data from hotels using the Duetto platform. Fluctuations are to be expected in line with COVID-19 directives from governments and the World Health Organization.
The data is analyzed by the Duetto Customer Success and Solution Engineers teams of revenue management experts to compile an easy to access and digest online report available to all hoteliers.
Hoteliers can subscribe to this new, free service – Duetto Pulse Report.
Article Reposted with Permission from Hotel Management
Hotel Management is your centralized source for the latest news, trends and analysis across the hospitality industry. Stay up-to-date on breaking news in global and local investment, development, technology, operations, food & beverage and design.
Original Article: Duetto Pulse Report shows signs for recovery.
Thank you Hotel Management! CIP highly recommends signing up for the Hotel Management Newsletter.