Consumer behavior is different depending on which country the consumer lives in. Therefore, hotels need to keep track of where the consumer comes from to use the findings in the survey. Without high-quality data in the hotel PMS, the hotel will have no clue how to apply consumer behavior knowledge.
By using the data from the hotel PMS, hotels should be able to define segments based on the reason for travel, feeder market, distribution channel, and other variables. By narrowing down the total market to specific market segments, the chances of acquiring the guest increase since the hotel can easily target potential customers.
A shift in the segment mix
The number of business trips will continue to increase in the next 12 months compared to the previous 12 months. The increase will be significant since it is from a low level. Business travel is far from pre-pandemic levels, and it will take some time to recover, if ever. Google announced a few days ago, "Managers should not approve any social functions, full-team offsite, and employee travel to in-person events with a virtual option." Companies will save on the cost of travel and avoid travel because of climate change which will decrease demand for hotel accommodation. The shift from business travel to leisure travel will continue.
32 percent of the surveyed people, especially the younger generation, are willing to pay more for an environmentally sustainable holiday. Therefore, investments in becoming more sustainable will reach a higher return on investment when hotels can increase rates.
Hospitality industry business intelligence shows that the overall travel trends are favorable for the industry, and people are excited to travel again. However, hotels should be aware that they are watching their money closely and spending wisely. Hence, hotels must balance good deals and value and carefully analyze their data before increasing rates too fast.