Hospitality Industry Report: Q1 2019
How did the hospitality industry fare this quarter? The latest IgnitionOne Hospitality Industry Report analyzes trends across 5.3M direct to website bookings, $1.7B in total revenue, and $2.74B in lost revenue due to cart abandonment. Relative to last quarter, bookings are up by 13% and revenue grew by 25%.
With first-party data gathered from more than 18,000 hotel properties across over 50 hotel brands, the Hospitality Industry Report looks at global trends including site visitation, likelihood to complete a booking, and site activity prior to booking. The report also analyzes trends in booking details such as lead time, length of stay, and booking values. The data is aggregated to show trends over time as well as by hotel tier.
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- Relative to Q4 2018, lower tier hotels saw a decrease in time spent on site prior to booking; higher tier hotels saw an increase
- Travelers completed bookings faster, with 21% less time spent on site, and 25% further in advance of their trips than in Q4
- Almost all hotel tiers saw higher booking rates in Q1 than in Q4; Midscale hotels were the exception
- All hotel tiers saw an increase from Q4 in share of Leisure trips as opposed to Business