Group Hotel Bookings Fall as Business Travelers Search Online for Deals
Some hoteliers have yet to realize that falling group business is being directly replaced by solo bookings from business travelers who want to find their own rates closer to the date of travel. Hoteliers need to adjust pricing strategies to reflect the new trend.
Excerpt from Hotel News Now
Shifting consumer-booking behaviors are undermining the old group business model, requiring a reset in the way hoteliers price and sell rooms.
Group and transient demand were clearly segmented blocks in the past, but today the lines have blurred as more travelers book outside group blocks to find more affordable rooms in shorter windows…