White Paper: Hospitality & Tourism Industry Report Q1 2010
29 July 2010
White Paper: Hospitality & Tourism Industry Report Q1 2010
The first quarter of 2010 showed the earliest signs of economic recovery since the recession that began in late2007. As consumers slowly grow more optimistic about their personal fi nances, the hospitality and tourismindustry is in a position to benefit from a renewed enthusiasm to travel. Further, as corporate budgets re-open,business travel, a large source of revenue for many hospitality and tourism providers, is expected to increase.
However, as a new economic landscape unfolds, brands will have to evaluate the new reality and determinewhat, if anything, has shifted in the consumer mindset when it comes to travel planning priorities, and likelyadjust their online strategies accordingly.
Price has always been an important factor in the booking decision, and the recent economic downturn hasamplified its significance. Further, the pervasive online world, OTAs and specialized search engines havemade it easier for consumers to focus on price and shop for the best deal. In fact, a website’s ability to savethe consumer money on room rates performs as one of its weakest elements.
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| Attachment | Size |
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| iperceptions_hospitality_report.pdf | 353.26 KB |
