Since 2020 a lot of things have happened that have made a mark in our industry for the long term. It is key for us to be aware and be prepared. Let’s look at some of the industry trends and statistics we are currently seeing. Based on a current study from DestinationAnalyst.com made this past March 2022. The outlook and perception of people to travel this year is as follows:
- 81.0% of American travelers report strong excitement for their travel this year.
- 86.2% are in a ready-to-travel state-of-mind.
- 57.9% (A record high) feel we are closer to normal in the U.S.
After a long period of restrictions in different cities and other parts of the world, Americans are more ready to travel than ever before! This is great news for the travel industry.
Most companies after COVID-19 restrictions were lifted decided to offer a more flexible work environment for their current employees. Work-Life Balance has been a top priority and long stays have been more popular than ever. This has and continues to be a great opportunity for our vacation rental industry to capitalize and fulfill that demand. Long stays are here to stay!
Americans are hungry for new experiences. 55.7% are preferring to experience places they have never been. Millennials are motivated to create special travel experiences where they are willing to embrace and interact with locals, nature and culture alike.
The demand for rural destinations since COVID-19 grew based on the circumstances. People wanted to still go out on vacation but understood the safety measures needed to be taken. Most guests were avoiding crowded suburbs, places with lots of traffic and constant noise. Making rural destinations a perfect place for health and mind. Also, considering the privacy and space that rural areas offer, it has been a very popular destination for since then.
Global Travel Health Index (Past 2 Years)
What is next?
Take advantage of these travel trends and heightened desire to travel by diversifying your listings on some of the biggest booking websites! Adding an Online Travel Agency is not only proven to boost your direct bookings, but should also increase your overall occupancy rate.
35% of all direct bookings come from OTAs
52% book through an OTA
64% of all mobile bookings come from an OTA
You’ve likely heard of the term “Billboard Effect”, but for those who are not familiar with this term: It is the increase of direct bookings due to the exposure when you are also listed with other online travel websites like Booking.com, VRBO, Airbnb, HomeToGo, etc. Plus, the commission cost you’d pay to an online travel agency is actually the equivalent to what you’d spend on your own branding and marketing.
Think about it – this is the perfect marketing tool, you only pay, when you get business, As simple as that.
Diversify your listings with Booking.com’s Latest Offer
Summer 2022 Genius Commission Discount Offer
Booking.com’s various pricing products and programs help partners stand out from the crowd and capture demand, fast. The Booking.com Partner Performance Investment Program is designed to enable partners to be more visible on their platform and capture high-conversion audiences, as well as reduce the cost of acquisition. For Summer 2022, Booking.com is continuing to optimise the program with the Genius Commission discount offer.
Try Genius with a 20% commission discount. To help you lower your costs this summer and grow your business going forward, Booking.com has an introductory offer for Genius. If you join Genius before the end of June, you will automatically unlock a 20% discount on your commission for all stayed Genius reservations for stay-dates between April to October.
How can properties join the offer?
- Step 1: Visit the Opportunities page in the extranet
- Step 2: Click on ‘Genius Programme’
- Step 3: After visiting the page, click ‘Try Genius now’.
To bulk-opt in or see list of eligible properties:
- Step 1: Visit your Group Opportunity Centre
- Step 2: Click on ‘Genius Commission Discount’ opportunity to identify eligible properties, visit the product page in the Extranet for more information.
- Step 3: Fulfill the opt-in opportunity for each individual property in the Bulk Editing tool
- Step 4: Once completed, submit the property IDs to your Booking.com account manager or PBM via email and the Commission Discount will be activated for those properties (typically within 1-2 business days)