Photo Credit: TN
Hotel Rates And Demand Are Higher This Summer Than Pre-Pandemic Levels
Much like with airline and car rental prices, hotel rates are skyrocketing. Average daily rates are exceeding pre-pandemic prices globally. Travelers are especially eager to get out and travel again after two years of travel restrictions. With this summer being the the most highly anticipated for travel since the pandemic, hoteliers are bracing themselves for the demand. Travelers are preparing for the rise in hotel rates.
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What the data found
According to Amadeus, April marked the first time global hotel occupancy passed 2019 levels. This summer, global occupancy rates are about 1 percent below 2019 levels but may increase as mot travel is booked this summer. Data shows that over 50% of trips are booked within a week of traveling.
Katie Moro, VP of data partnerships for hospitality at Amadeus says the close time frame in booking travel, “should give hoteliers the confidence to keep their room rates steady and not be tempted to drop them to attract more business.”
Hotel bookings for June through August have a global daily average rate of $200. This rate is 11% higher than in the summer of 2019. France is seeing a higher increase, with an average daily rate of $428 for July. This is a 29% increase in comparison to July 2019.
Data from Amadeus shows car rental costs and demand increasing this summer. Bookings this summer have increased by 33% with an average of six-day rentals compared to last year. The average daily rate for car rentals this year is $102 compared to $92 in 2021.