eRevMax has published an in-depth Hotel Sentiment Outlook for 2021 based on hotel survey conducted in December. The report highlights varying levels of business confidence among hoteliers with Middle East showing strong travel rebound while most Western markets are far from normalcy.
The travel sector is unpredictable and with the spread of the new Covid 19 strain, the situation continues to look grim. The survey shows that hotels are cautious and looking for ways to generate new business.
As far as expectations regarding the time required for the market to recover and reach pre-Covid levels, the industry is largely divided. Around 40% of participating hoteliers felt that the travel industry will take up to 2 to 3 years to reach pre-Covid levels of business. While short term recovery has been witnessed in some regions, by and large, hoteliers feel that recovery will take longer, possibly by 2024. Almost 75% respondents believe that there will be a spike in domestic tourism while all other segments of tourism – MICE, corporate and foreign travel will continue to underperform over the next few months.
The survey findings show that hotels are prioritizing online sales to drive demand with channel management and booking engine solutions, even as there is a definite shift to automated touchless solutions.
To know more such key insights, please download the full report – https://www.erevmax.com/ratetiger-news/ratetiger-news-archive/jan2021-erevmax-hotel-survey-highlights-varying-levels-business-confidence.html