The hotel industry has seen a dramatic reversal of fortunes in the last two years. Hotels across the globe have been living it up in a sellers market for a lot of years past. Due to the economic crisis of the financial markets that trend has seen a big push of the pendulum from a sellers market to a buyers market. Gone are the days when hotels could charge exceedingly high room rates with night after night of full occupancies.
The 2009 Zagat Hotel Survey was just released and their findings are backing up this buyers market trend across the board. Business and leisure travelers have cut back dramatically and the hotels are adjusting their marketing schemes quickly. More and more hotels are offering free night packages and other incentives like golf and spa packages. The Zagat survey also found that an overwhelming majority of people that are booking travel plans are doing it through online travel websites. I suppose we will see the end of travel agents and travel agencies some day. I really can’t remember the last trip that I went on that was not booked online.
So who will benefit from all these deals that the hotels are offering now. We will, YEAH!. Vacation travelers will most likely benefit the most as the power to book a hotel has swung all the way over to the buyer. Hotels are at their breaking point by now so they are willing to do just about anything to entice vacation travelers back to their establishments. Business travelers are a little more difficult to get back as that is more dependant on the status of the economy and a businesses need to travel. Something most businesses are not willing to spend their budgets on right now. Most businesses have cut their travel expense budgets in an effort just to survive this economic crisis. So keep your eyes on the travel sites vacationers because the great deals are coming our way!
Share Your Opinions and Thanks for Reading,
Carpe Diem!
2 Comments
I was in the DR last month at a resort called charlisangels and they have great beach villas at all inclusive packages, i notice they had beach villas for rents as well. You can visit their link at http://www.charlisangels.com
Great stuff. Nice to read some well written posts. A long way between them.
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