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FEATURE PROFILE: Feature from the FALL 2024 ISSUE of STAY Magazine
Intelligence
1‑in‑2 hotel guests to come from abroad this summer: Report
A new report by SiteMinder, the hospitality software platform, has found that international arrivals are set to rise by 14 per cent from last year to 53 per cent of all check-ins this summer.
The report, SiteMinder’s Hotel Booking Trends - Summer 2024 Edition, studies hotel reservations made for stays between June and August in Canada, as well as Austria, France, Germany, Italy, Mexico, Portugal, Spain, the U.K. and the U.S.
In Canada, the data show:
- Travellers have booked their summer stays further in advance. The average lead time has grown by two days to 145 days, which is third-longest in the Northern Hemisphere, behind only the UK (150 days) and Germany (146 days).
- The average daily rate (ADR) has increased by 2 per cent, from CA$433 last summer to CA$442 this year. This contrasts hotels in the US, where the ADR has decreased by roughly US$10, but it represents smaller growth than in Mexico, where the ADR has increased by 3.5 per cent.
- The length of stay has grown from an average of 1.69 nights to 1.87 nights, which represents the largest year-on-year growth in the Northern Hemisphere.
Jason Lugo, market vice president for the Americas at SiteMinder, says the findings signal an exciting summer ahead for Canadian properties. “Summer has arrived, and the spike of scheduled international arrivals will bring with it more revenue as well as 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 US$50 billion in revenue for its hotels.
