Cloudbeds survey reveals key hotel booking trends

A 2022 research report unveiled by Cloudbeds, a hospitality technology company, highlighted key booking, travel, and macro trends set to shape the future of the hotel industry. 

Hotel
A GlobalData poll revealed that 44% of travellers prefer leisure trips of at least 7 nights, with 26% of travellers preferring stays of 10+ nights.

A dynamic demand environment

One of the biggest impacts of the pandemic is that travel demand has been consistently unpredictable. Even factors such as location and seasonality are no longer as reliable as they once were. Much of the unpredictability has been driven by lockdowns and changing border restrictions, which has forced many travellers to cancel or change their plans at the last minute. A single announcement can also drive enormous spikes in demand. 

Travellers, now used to such uncertainties, have altered their booking habits accordingly. Booking lead times have shortened considerably, with many consumers preferring to wait until closer to their trip to book it. A staggering 79% of travellers are now booking within 14 days of their stay date, up from 24% in the previous year, according to STR.

Flexibility remains a priority for many travellers: Nearly one in three travellers say that an accommodation provider’s cancellation policy is one of the top three factors influencing a booking. A growing number of travellers are taking advantage of the flexibility by “trip stacking,” booking two or more trips over the same travel period in case Covid-related issues ruin their preferred travel plans.

Travellers prefer booking direct

At the start of the pandemic, as lockdown orders spurred mass travel cancellations, many consumers grew frustrated with online travel agencies for their poor communication and long delays in issuing refunds. The resulting negative press eroded consumer confidence in booking with OTAs. In a June 2021 poll by GlobalData, 39% of consumers said they would typically book directly, versus 17% that would opt for OTA and price comparison sites.

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Travellers are booking longer stays

Prior to the pandemic, weekend getaways were one of the most popular types of trips, but that trend has since flipped. A GlobalData poll revealed that 44% of travellers prefer leisure trips of at least 7 nights, with 26% of travellers preferring stays of 10+ nights.

Extended stays are rising in popularity

As per Airbnb’s Q3 2021 earnings report, long-term stays of 28 days or more are the company’s fastest-growing trip length and accounted for 20% of nights booked that quarter, up from 14% in the prior year’s quarter.

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