Self-catering accommodation and smaller hotels have derived benefits from the Coronavirus (COVID-19) crisis, often at the expense of larger lodging. Travellers have favoured smaller accommodation in order to feel safer and more protected from the spread of the virus by minimising contact with others and the risk of infection.
Travellers are still looking for “the big deal”. As they continue to compare hotels and other lodging outlets and sites extensively before booking, shorter booking windows and higher shares of last-minute cancellations are more common.
All lodging types are projected to see strong value sales (constant 2021 prices) growth in 2021 and 2022, before stabilising as the forecast period progresses. However, hotels, and lodging overall, is not projected to return to the 2019 value sales level (constant 2021 prices) by the end of the forecast period.
Diversification within lodging could represent important growth opportunities over the forecast period. For example, many travellers are favouring lesser known or more remote destinations.
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This report originates from Passport, our Lodging research and analysis database.
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