Day-by-day hotel price variations show that, in 2023, hotels in the US generated on average $64 more for a Friday stay than for a Sunday stay. This is a variation matched only by Irish and Australian properties globally.
Unsurprisingly, in 2023 July was the busiest month for US hotels, followed by August and June. 1 September was the busiest day, thanks to the Labor Day weekend, and the average gap between a Booking and guest’s check-in (average lead time) –– while not yet at 2019’s levels –– grew by two-and-a-half days to 36.5 days when compared to 2022.
Hotel pricing variations
According to SiteMinder, pricing variation was due in part to a growing desire for deals among travellers who have been forced to adapt their travel preferences in light of rising costs of living.
The report highlights a rise in hotel booking channels that specialise in providing special offers. The top players are Booking.com and Expedia, followed by hotel websites for direct bookings.
Global distribution systems, which are traditionally used to access the corporate travel sector, featured as US hotels’ fifth-highest revenue-driving booking channel for the first time.
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Despite questions around the current growth rate for corporate travel, the ranking reflects the continued recovery of the segment within the US and the need for local hotels to adapt their revenue management strategies accordingly.
Changing traveller profiles in the US
In the US, the changing profiles of travellers and hotel customers was accelerated in 2023 by the increased proportion of international arrivals. It grew 17% – from 30% in 2022 to 35% in 2023 – to complement the strong domestic travel market which ranked second globally in its contribution to total hotel arrivals.
SiteMinder market vice-president for the Americas Jason Lugo commented: “Our data indicates that US hotels are embracing dynamic revenue management more than almost any country globally. But in a constantly evolving market, there is no room for complacency, and it is critical hotels understand the need to adopt dynamic revenue management practices and how every customer touchpoint is now a revenue opportunity.”