Booking Holdings Sees First Signs of Changing Traveler Behavior Brought on by Pandemic
Skift Take
Will it be hotels or alternative accommodations that bounce back first? Booking Holdings officials said they see a shift toward alternative accommodations when travelers are booking stays at least two months in advance. But this trend won't necessarily stick over the long term.
There are signs of changing traveler behavior, but Booking Holdings CEO Glenn Fogel thinks the travel market will be more similar than different when travel fully recovers a few years from now.
With the travel industry intently focused on whether a recovery is taking shape and which new travel patterns will emerge, Booking Holdings officials on a first quarter earnings call on Thursday pointed to more domestic bookings taking place versus international ones in countries where a tentative rebound is beginning. They also cited a trend toward alternative accommodations rather than hotels when consumers were booking stays at least two months in advance.
The giant travel company, with brands such as Booking.com, Priceline, Agoda, Kayak and OpenTable, began to feel the real impact of coronavirus in mid-March, and during that month saw more cancellations than bookings.
In April, according to chief financial officer David Goulden, regions such as China, Hong Kong, Taiwan, and Macau (he called them "Greater China,") as well as South Korea, Vietnam, and Germany saw double-digit improvements, but from a low base. However, h
