Hotels see corporate bookings triple in third quarter
Profitroom, a provider of hotel technology, has found that corporate hotel bookings are returning with a 250% year on year increase.
The data also indicates that quarter three bookings were up 270% on the same period last year, showing a significant increase in demand.
Furthermore, the average daily rate, which determines hotels’ operating performance, was up 44%, meaning hotels are leveraging this demand to return to pre-pandemic levels.
The research also found the average booking window had also jumped 64%, moving from 33 days in 2020 to 54 days in the same period in 2021. This suggests guest confidence is returning as they are willing to make more advanced bookings and commit to longer lead times.
Samantha Williams, director of business development at Profitroom, commented: “Coastal hotels and resorts have enjoyed an extremely busy summer, and there were fears that city centre hotels would be left behind with people staying away. It’s great to see though that demand has increased significantly – and it renews hope that there’ll be a long term recovery in the corporate market. This hopefully bodes well for wider business too, as people venture back into city centre workplaces.”
She added: “City-based hotels traditionally benefit from winter trade, as people turn away from coastal bookings during colder months and head into towns for Christmas shopping and socialising. It will be interesting to see how (and indeed if) these hotels benefit from this trade over the next quarter or whether pandemic fears continue to linger.”
The data has been taken from the UK hotels within Profitroom’s 3,500 worldwide hotel database, which is predominantly made up of four star and five star properties.