New Revinate Analysis Shows 48% of Room Bookings ’Last Minute’
Revinate, the software as a service (SaaS) company that helps hotels transform guest data into revenue, today announced the findings of its global study on hotel booking lead times for 2017 and 2018. According to the analysis, which is based on 12 million reservations from 600 hotels, 48% of reservations made in 2018 were 'last minute', or booked within a week of check-in. Last minute bookings decreased by 6.25% when compared to 2017.
Globally, in 2018 only 13% of reservations were booked more than 60 days in advance. In 2018, European hotels saw the highest percentage of long lead booking windows, at 16%, which remains unchanged from 2017. The US and Canada only saw 15% of reservations made 60+ days in advance, down 6.67% from 2017. Only 6% of 2018 bookings in Middle East and Africa were made 60+ days in advance.
"Hoteliers that are interested in understanding their own booking windows, at both the property and group level, can use Revinate Database Insights," Kelly Robb, Revinate's VP of Marketing and Growth says, "Hotels are sitting on a treasure trove of data from their many technology systems but too often it's hard to access the data without an analyst's help. Revinate Database Insights makes it easy by visualizing reservation data from the PMS, including nights, stays, length, and lead time, allowing hoteliers to understand trends, use data to target the right offer to the right customer, and drive revenue."
To learn more and see the complete regional data on booking windows, visit the Revinate blog.
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Revinate enables hoteliers to transform their guest data into revenue. With Revinate Marketing and Revinate Guest Feedback, hoteliers are empowered to make smarter decisions, resulting in increased direct revenue and guest engagement. The company is backed by leading Silicon Valley investors, including Benchmark Capital, Tenaya Capital, and Sozo Ventures. Headquartered in San Francisco with regional offices in Amsterdam and Singapore, Revinate counts tens of thousands of the world's leading hotels as customers.
To learn more, please visit www.revinate.com.