The shortened booking window is becoming a major issue for suppliers from both a pricing and forecasting standpoint. There is no calculated optimal point at which prices should be dropped in the instance of a largely empty flight or hotel. When prices are revised down the byproduct is a consumer culture that searches for the last minute deals. This is reflective of and dependent on the consumer perception of the markets from where the business originates
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The Challenge Of The Shortened Booking Or Reservation Window, By Tarun Lakhanpal
1. Travel Distribution Summit Asia 2010 Challenge Of The Shortened Booking Window April 29, 2010 Marina Mandarin, Singapore www.lemontreehotels.com
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3. World Economy Is Cyclical Source: World Bank GDP growth rate Percentage change of real GDP compared to previous year. Real GDP is adjusted for inflation
4. Total US – Occupancy & ADR Percent Change, Twelve Month Moving Average – 1989 to August 2009 Hospitality Industry Is Cyclical Source: Smith Travel Research
5. Source Markets Perception Source: Nielsen Global Online Consumer Survey, June 2009 Do you think, your country will be out of recession in the next 12 months?
6. Hotel Supply And Population Source: HVS, Indian Hotel Valuation Index
8. Volcanic Eruptions In Iceland: Shift In Lead Time At Lemon Tree Hotels 19% 7% 10 + days 6% 4% 8 - 10 days 16% 17% 4 - 7 days 59% 72% 1 - 3 days March 15 to 21 April 15 to 21 Reservation pick-up trend FTY 2010
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10. Objective: Conversion At All Touch Points Hotel name Hotel in a city Event in a city Search activity