Despite the current economic landscape, exponential levels of revenge travel in summer 2023 continues unabated.
NB: This is an article from Guestcentric
But although travel demand is showing no signs of slowing down, consumers are changing the way they travel to meet their current circumstances. Following the pandemic, responsible travel continues to be a critical factor when booking trips, and pricing across European hotels remains above pre-pandemic levels, and lower in the US.
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What else is in store for hotels in summer 2023? Below are 5 top trends we have identified for hotels this peak season:
1. Travel Demand is Booming from July to September
Data generated from our portfolio of hotels shows that travel demand is looking strong from June until September 2023. According to the analysis released on June 25, 2023, pickup this month is now up 23% vs June 2022. Hotel bookings for July currently represent 87% of 2022 levels, while bookings for August and September continue to accelerate.
Furthermore, consumer data recently published by Real Research shows that 87% of people worldwide plan on traveling this summer. Flight searches are also up 25%, according to Expedia, while Airbnb announced that guests have already planned stays in over 72,000 cities and towns over the summer.
All of this indicates that the revenge travel trend is holding strong, and is expected to continue until the end of the year. Consumers still seem to be making up for lost time, and hotels should be prepared to adapt accordingly.
2. Summer 2023 Direct Bookings in line with 2022 Levels
In 2022, direct bookings grew by a whopping 50% over pre-pandemic levels (benchmarked at 2019). Our latest market data (generated in June) shows that direct bookings for summer 2023 align with 2022 levels, but continue to significantly outperform all other channels’, including Booking and Expedia. Guests are still reaching out to guests directly, and thus hotels have the opportunity to convert these enquiries into more direct business for their hotels.
3. Portugal is one of the World’s Top Hot-Spots, with Special Focus on the Azores
According to the latest Travel Industry Trends 2023 study released by the Mastercard Economics Institute, Portugal is the eighth preferred destination for European tourists in 2023. The study concludes that European tourists are opting for proximity destinations, which may be driven by the current economic climate.
