Global Executives Survey: Advance Booking Trends and Online Booking Channel Overview

Summary

The availability of attractive offers, extensive range of options, and associated cost effectiveness are influencing travelers towards online booking channels. Online bookings will increase over the next two years and constitute a significant share of overall revenues. The majority of advanced bookings for business travelers are expected to happen one month prior, primarily between January and June. During the last 12 months, the majority of business travelers who opted for advance bookings were aged between 31-45 years. Business travelers from the US, the UK, and Germany opted more for advanced booking during the last 12 months. Additionally, mid-scale hotels were preferred for advance bookings by business travelers over the last 12 months. Over the next 12 months, an increase in the number of advance bookings will be recorded for international travelers from January to June, whereas for domestic business travelers, an increase in the number of advance bookings will be recorded during April to June.

Key Findings

• Business travelers mostly use online travel agents for booking business trips
• Better offers and discounts, along with cost effectiveness, are driving online booking for hotels and airlines
• The majority of advance bookings happen between January and June
• The majority of executives across regions expect more of advanced bookings for international travelers during the next 12 months
• Business travelers from the US, the UK, and Germany opted for advanced booking during the last 12 months
• Mid-scale hotels were more preferred by business travelers for advance bookings over the last 12 months
• 50% of business travelers who opted for executive suite during advance hotel bookings over the last 12 months were aged more than 50 years

Canadean's Global Executives Survey: Advance Booking Trends and Online Booking Channel Overviewexamines executives' perspective about online channels for booking, viewpoint on advance booking and highlights key drivers of online booking. Organizations can know about revenue share projection and forecasted change in online booking over the next two years. Moreover, organizations can examines trends in advance bookings such as demographics distribution, revenue share contribution, preferred hotel and room categories, average length of stay and, preferred time for advance bookings during the year.
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