Europe hotel bookings approach pre-Covid levels

Corporate hotel bookings in Europe have nearly returned to pre-Covid levels, while delivery times have also normalized, according to data from HotelHub.

The hotel booking specialist said international corporate bookings in Europe in the third quarter of 2022 accounted for 43% of all hotel sales, compared to a market share of 44% in 2019.

HotelHub also found that the average lead time for corporate hotel bookings in Europe increased over the past three months to 17 days, which was similar to the advance booking period in the third quarter of 2019. At this time last year, the delay was only nine days. days before departure for Europe.

Another trend saw the number of online hotel bookings accelerate significantly in the quarter, compared to the same period in 2019. In September 2019, 29% of corporate bookings were made through online booking tools (OBT) connected to HotelHub, but that figure has jumped. up to 62% at the end of September 2022.

HotelHub added that average daily rates (ADRs) in major city destinations across Europe began to stabilize or decline slightly in the third quarter after reaching or exceeding 2019 prices in the second quarter of 2022.

ADR in London fell from $313 in June 2022 to $276 in September 2022, while rates in Paris fell from $231 to $211 over the same period and hotels in Rome saw a drop of $192 to $181.

Eric Meierhans, Chief Commercial Officer of HotelHub, said: “It is very encouraging to see that international travel continues to increase, particularly in Europe where international hotel bookings are only one percent below industry levels. before the pandemic.

“The fact that average times are more or less back to where they were before the pandemic is also a good sign that business travelers can plan ahead with greater confidence and don’t need make last-minute decisions or change their travel plans. .”

Meierhans added that the increase in the proportion of online bookings could be the “result of TMC staff shortages and service issues, meaning businesses are more reliant on their OBT.”

“The spike in average hotel rates we saw last quarter has also stabilized in most key cities, particularly in Europe, now that supply and demand are stabilizing,” he said.

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