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Friday Fuel – OTA Consolidation, Last Minute Bookings & Social Trends

Tripadvisor’s Astounding Number Of Reviews

Whether you work in the hotel industry or not, you’re bound to have used Tripadvisor before. If you’re in the hotel industry you know that they are one of the major players when it comes to getting heads in beds. So many people use Tripadvisor because people value consumer reviews, and Tripadvisor has more than any other travel-planning site… by far. Between their founding in 2000 to 2005 they amassed 1 million reviews. By 2011 they had 50 million. Between 2013 and 2014 they increased from 100 million to 200 million! They certainly don’t show signs of slowing down and continue to develop ways to make reviewing hotels easier. Learn more about Tripadvisor’s new plans and how their competitors compare in this recent article from skift.

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5 Social Trends For Hotels

Recently, Daniel Levine of the Avant-Guide Institute was speaking at the AmericInn 2015 Convention & Tradeshow about how hoteliers should be shifting their focus and capitalizing on social media trends. He summed up his lecture with 5 key points: 1. Guests are using mobile devices heavily, 2. Guests want things to be healthy and eco-friendly, 3. Guests expect a superior level of service because they see exceptional examples elsewhere, 4. Guests demand transparency, 5. Guests love simplicity. He expands on each of these points and how it applies to hoteliers in a recent article on hotelnewsnow.com.

Last Minute Bookings

As many of us in the travel industry have seen over the past year, a growing number of people booking hotel rooms are doing so much closer to their arrival date than they ever have before. As booking windows shrink, we as hotel marketers need to understand these trends and determine the best ways to capitalize on them. In a recent travel marketing article, Paras Chopra came up with 5 tactics that could potentially help hoteliers do just that. 1. Display Lowest Price Guarantee, 2. Offer A Price Comparison Tool, 3. Launch A “Last Minute” option, 4. Make Checkout Simple, 5. Make Information Easier To Share. To get more details on these tactics, read Paras’ article here.

OTA Consolidations

In the past few months the hotel industry has seen some shakeups in ownership and market domination. We saw Expedia swallow up major players like Travelocity and Orbitz. We saw Orbitz take over Rocketmiles. Now that these OTAs are joining forces, we will have to see how their futures play out. These OTAs are likely going to gain significant bargaining power, but they will still have to play fair. Right now we see around 15% – 30% commission on OTAs. Will this percentage grow or shrink as the power shifts? Stay tuned to Friday Fuel and stay up-to-date on how the conglomerates work out.

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Phil ForiskaFriday Fuel – OTA Consolidation, Last Minute Bookings & Social Trends
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