Travel & Tourism May 29, 2021
The journey to recovery by the Travel and Tourism Industry
The travel, tourism and hospitality industry has been decimated by the impact of the coronavirus COVID-19 outbreak.
Countries are still actively battling the deadly virus but societies and industries are now also looking to rebuild and reemerge from the crisis.
The recovery process for the travel industry will be complicated and lengthy. After being in the depths of the worst crisis to impact the travel industry in its history, travel brands are eager to get to some semblance of normality.
Some Destinations Are Offering COVID Vaccines to Visitors.
As the COVID vaccine rollout progresses, one thing is becoming painfully clear: The effort has been starkly uneven around the world. Some countries, like the U.S. and nations in Europe, have made huge strides in vaccinating their populations, while other corners of the globe are still battling devastating outbreaks.
Hotel and alternative accommodation availability
COVID-19 has been a catalyst in rising traveler demand for private homes, making them an integral part of the competitive landscape and a data point hotels can no longer afford to ignore.
Knowing how many alternative accommodation listings you may be competing against for different locations, and at which price point, completes the picture of consumer choice and enables your hotel to provide more competitive offers.
New form of competition
It’s also time to take a fresh look at your competition. With the rise of online travel agencies and review sites, competition is far more dynamic. With the dramatic reduction in corporate and MICE travel, there’s no longer a distinction between hotels focussing on business travel versus hotels focussing on leisure.
Couple this with a continuing upsurge in demand for alternative accommodation and your competition has altered once again. You are now competing against practically the entire market, so consider a tool that can automatically adjust your competitive set based on factors, such as consumer searches, your amenities, star rating, and price.