Source: https://str.com/data-insights-blog/influence-of-covid-19-on-travel-plans-and-accommodation-types
As the COVID-19 pandemic reshapes the world of travel, we investigated the impact on accommodation choices among international travellers. This piece builds on our analysis of propensity to travel in key English-speaking countries, in which we learned that desire for travel has declined but remains strong overall.
Below we can see changes in propensity to travel over the next 12 months broken out by the accommodation type travellers used for past international travel.
Unsurprisingly, over the course of the month, the percentage of people anticipating less travel increased across all accommodation types. However, responses differed across travellers who’d previously stayed indifferent accommodation options.
Mid-range accommodation users more likely to scale back their travel plans
The percentage of mid-range or standard accommodation guests anticipating less international travel in the second half of 2020 rose from 24% to 42% over the course of March. Travelers who previously stayed in short-term rental properties, however, were the most resilient to COVID-19 disruption. The percentage of vacation rental guests reducing their international travel plans increased only eight percentage points.
Luxury hotels might have been hardest hit in terms of occupancy, but travellers who previously stayed in Luxury or superior class hotels were least likely to reduce their future travel. Could this provide green shoots of optimism for potential future demand?
Interestingly, Luxury and superior hotel guest preferences aligned with the preferences of short-term rental travellers. Both accommodation types offer unique experiences, such as the high quality of luxury hotels or the authenticity of an apartment rented in the middle of the city. In a post-COVID-19 world, the unique features distinguishing accommodations will be more important than ever in driving demand.
To learn more about the data behind this article and what STR has to offer, visit https://str.com/.
Sign up to receive our stories in your inbox.
Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.
Sign up to receive our stories in your inbox.
Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.
