Tuesday, July 28, 2009

Economy dictating where hotel guests stay

Current economic conditions are influencing consumer interest in lodging types, says Ypartnership/Yankelovich 2009 National Travel MONITOR.

Compared to last year, preference for independently operated hotels and resorts is up, while preference for chain-affiliated properties is declining.

Leisure travelers are also more likely to cite “value for the price” as a key consideration when selecting lodging accommodations.

“Although preference for independent lodging is growing (now cited by 20% of all leisure travelers), it is still important to note that 8 out of 10 leisure travelers prefer chain-affiliated accommodations,” the report says.

This preference has declined significantly from the level recorded last year (84%), however.

“Also, compared to last year, leisure travelers are more likely to prefer a limited-service hotel or motel without a restaurant (40% versus 34%), and less likely to prefer one that offers full service with a restaurant (60% versus 66%)."

This preference seems to be driven by two factors, said Peter C. Yesawich, chairman and CEO of Ypartnership.

“First, a growing number of consumers appear more interested in the novelty and/or special character many independent operators have scripted into their properties. Second, the quest for better value, now defined in terms of a more attractive price, appears to be motivating many leisure travelers to evaluate independent alternatives.”

Post a Comment