Hospitality Industry Report: Q2 2019
How did the hospitality industry fare this quarter? In Q2, the IgnitionOne Hospitality Industry Report tracked 5.7 million direct bookings, $1.7 billion in total revenue, and an estimated $3.2 billion in lost revenue due to cart abandonment. Relative to the previous quarter, Q2 revenue was down by 5%.
With first-party data gathered from over 65 hotel brands, comprising over 25,000 hotel properties, the Hospitality Industry Report analyzes trends in 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.
New in this report: Hotel marketers who download the report get access to an exclusive offer with IgnitionOne, as well as a new section that provides insights into how to leverage the findings in this report to enhance their digital marketing strategy.
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- Across hotel tiers, travelers took longer to complete a booking in Q2 relative to Q1
- Travelers in Q2 booked their trips with shorter lead times than in Q1, consistent across all hotel tiers
- Booking rates spiked dramatically for lower tier hotels
- Q2 saw more Business trips across all hotel tiers, at the expense of Leisure trips