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With the world facing an unprecedented crisis, Covid-19 has made a huge impact on the global lodging industry. Since the first quarter of 2020, there have been widespread changes and adaptations. While some of them are meant to address issues in the short-term, others are here to stay.
As a part of the lodging industry, the Cloudbeds team wanted to understand the challenges being faced by our customers, and even the entire travel community. With the focus on lending valuable support and insights to hoteliers' recovery plans, we aimed at gathering critical information that could impact decision-making.
For this particular reason, we recently launched a sentiment survey to get feedback on how hosts and hoteliers around the world are anticipating reservation and travel trends to change in the coming months.
Over 1,000 independent owners and operators spread across 65 countries responded to the sentiment survey, allowing us to gather useful information regarding the community's feelings about the lodging industry. It also helped us understand the changing guest behaviour, and what we should expect in the coming year.
The sentiment survey focused on timely questions, which included everything from the timing of lockdown lifting to the predicted distribution of reservations. Let's take a look at the data we gathered to explore some of the most compelling and impactful findings.
But before we dig deeper, let's share the gist of the information that we collected. With 64% of respondents expecting the lockdown to be fully lifted by late August, the third quarter of 2020 seems to be the launchpad for full-term recovery in the hospitality industry. Since only 32% of the respondents are currently open, this anticipated outcome indicates growing positivity around the lifting of restrictions.
When we asked customers to compare reservations in the pre and post-Covid era, the responses were consistent. Almost every hotelier expected the demand to follow a returning path over the next 18 months. With the growing optimism, some even suggested that the demand could exceed 2019 levels.
After analyzing the submitted responses, we've been able to pen down the following trends:
HotelMinder, it is about:
HotelMinder, it is about:
While Covid-19 subsides and the world opens to new opportunities, the hospitality industry will have to take some crucial steps regarding social distancing, safety, and health. With support from the community and insights that could impact decision-making, we're sure that business will be back to normal sooner than later.
In addition to this sentiment survey, we have released a robust market insights dashboard to help customers anticipate demand and plan for the future by observing occupancy, booking, and cancellation trends on a country-by-country basis.
Cloudbeds is the leading platform redefining the concept of PMS for the hospitality industry, serving tens of thousands of properties in more than 150 countries worldwide.
HotelMinder is a leading advisory agency for hoteliers to maximize business performance with hands-on advisory & project management services; a free and unbiased hospitality knowledge platform with Tech, Marketing, Revenue and Operational content; and a marketplace for professionals from all over the world to find hospitality specific software and services that best match their vision and requirements.
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We evaluate objective(s), defining opportunities and setting goals.
We make a plan detailing what should be done to help reach set goals.
We implement change, as planned, within set timeline and budget.