Articles tagged “skift research”

The explosive popularity of online guest reviews on numerous review platforms has made it imperative for hotels to adopt reputation and review management software to be able to manage their public perception and benchmark guest satisfaction. This tech category has observed growth in the last decade and has the potential to generate $1.3 billion in annual revenues.

Guest-facing tech has gained popularity over the last few years, especially due to its contactless capabilities. While there is a lot of investment in this landscape and growing interest from hoteliers and guests, it is still largely in its infancy with a lot of potential to grow.

High season... what high season? In September, 57% of Americans traveled, 10 percentage points higher than the same time last year. The normal decline in trip participation after the summer months did not occur, highlighting how the vacation season is being stretched as demand - and prices - remain high.

So much has happened in the the travel industry in recent years. This new report by Skift Research puts perspective on those dizzying changes by providing definitive and data-driven insight into the current state of the travel industry, and the trends that will shape the future.

Higher prices and concerns about the economy haven't stopped Americans from traveling. Over half of Americans traveled in July. And nearly 60 percent of them said they might travel before the summer ends.

Lines between hotels, short-term rentals and other accommodation types are blurring, but we see little merging in the business-to-business tech spaces that support these sectors. This will change, but there are some major barriers to overcome first.

Nearly 47% of Americans traveled in May 2022, 6 points higher than March, signaling a strong start as we get closer to the summer season. However, anxiety about the economy reached the highest

Understanding the customer is becoming increasingly important to hoteliers, and CRM systems can help capture guest data and automate interactions to improve guest conversion and retention. For now, however, CRM remains a tool mainly used by larger hotels.

The composition of the European accommodation sector has drastically changed over the last decade with short-term rentals gaining a substantial share. The next few years will be very crucial in shaping the sector in the region with respect to market dynamics.

While the travel industry was on its knees, travel loyalty programs continued to grow. But the pandemic has changed the travel industry, and loyalty programs need to follow suit.

Despite the spring break, 41% of Americans traveled in March 2022, little changed from January. However, it’s 5 percentage points higher than March last year, signaling a somewhat healthier start as we inch towards summer season.

Except for the down year of Covid, the U.S. accommodation sector has been performing robustly with the short-term rental segment gaining market share. However, it is yet to be seen how the composition of the industry evolves.