In the past several years, the travel industry has rapidly evolved as technology and mobile apps are giving travelers more information and greater control over their travel plans. For hotels, this shift has become a sink or swim moment, challenging those whose services are out of sync and rewarding the earliest adopters of cutting edge technologies.
It’s not only the way that we book travel that’s changing, it’s also the nature of travel lodging. Guests are coming to demand an experience that is more specifically tailored to their individual needs. For many millennial travelers with hectic schedules that keep them on the go at all times, 24 hours is a lifetime. For these travelers, a daytime option is often what they’re really looking for.
Enter HotelsByDay. By partnering with HotelsByDay, hotels dramatically increase revenues by filling available rooms which would otherwise remain empty throughout the day. If the future is all about optimization for efficiency, this is the future of the hospitality industry.
Market Share of Digital Travel
According to a 2014 Emarketer forecast, the market size of digital travel in 2015 is projected to reach $153.21 billion, $116.44 of which will include desktop and laptop bookings, with the other $36.77 to consist of bookings on a smartphone or other mobile device.
Online hotel bookings are quickly becoming the preferred method of planning travel, with 57% of all travel reservations taking place online. When you look into same day hotel bookings, a whopping 65% of those reservations occur not only online, but from smartphones alone. For most hotels, finding an innovative solution to accommodate these digital hotel seekers is as simple as partnering with HotelsByDay.
Hyper-Elevate ADR and RevPAR
The hospitality industry is a tough one, with stiff competition in every major city. If you want your hotel to succeed, it requires a commitment to forward-thinking strategies to maximize occupancy. Partnering with HotelsByDay dramatically reduces lost inventory, while boosting available daily rate and revenue per available room.
Jeffrey Osborne, the CEO of Intelligent Hotels, and adjunct professor in Revenue Management at NYU-School of Professional Studies has expressed interest in the HotelsByDay model, “I see this model as a crushing blow to the concept of perishable inventory. Thanks to the protocols set by HotelsByDay, we’re giving hotels unique options to re-think distressed inventory and missed sales opportunities. By selling Intra-day inventory hotels will hyper-elevate ADR and RevPAR. There are very few ways in today’s business climate to effect new sources of untapped revenue, and this is what initially attracted us to the HBD model
The savvy hotel is on the lookout for contemporary solutions and services that are more closely tailored to the needs of its guests. The HotelsByDay smartphone app gives guests access to easy booking through a streamlined mobile interface. It’s easy to find the hotel that fits their needs and their budget, and make a reservation for a room the very same day. By giving guests the opportunity to book hotels by day, you’re accessing an untapped market using your existing hotel rooms that are ready to be used for intra-day stays for business and leisure travelers.