Top 12 Hotel Booking Revenue Makers as Consumer Choice Rises
SiteMinder today unveils its annual lists of the channels that brought the highest total booking revenue to hotels in some of the world’s top travel destinations in 2018. Varying from direct hotel websites to a new host of third-party channels, the diversity of the lists this year reflects a rise in consumer choice that is forcing hotels to compete for business on more booking channels than ever before.
Speaking on the lists, SiteMinder’s managing director, Mike Ford, says the increased diversity is also indicative of a booking landscape that has exploded in recent years and is showing no signs of slowing. According to Euromonitor International, global online hotel sales have surpassed US$264 billion to represent over 170% growth in the last decade, including over 13% over the past year, alone.
“While 2018 saw tourism slow in parts of the world, we are undoubtedly in an age where the travel industry, as a whole, is exploding. Yet, the growth we are witnessing in online hotel sales is one story that remains largely untold. Hotels are key enablers of travel and what our findings show is the unlocking of economies everywhere, from the outbound Chinese and Japanese markets to lesser known travel markets across Europe,” says Mr Ford.
“This year we found almost 20 instances of booking channels making a first-time appearance in our lists. So, while the more popular brands continue to dominate, we are seeing a broader range of players emerging. This trend reflects not only the ever-growing list of options now available to travellers booking their stay, but the subsequent need for hotels to be on more booking channels than ever to keep up with today’s endless paths-to-purchase.”
SiteMinder’s platform processed over 87 million online bookings in 2018 – a rate of 166 per minute. The bookings totalled US$28.7 billion in revenue for its 30,000 hotel customers globally.
Based on total gross revenue made for those customers, the top 12 hotel booking channels in 2018 were: