Bookings 90+ days out hit yearly low: what's going on?
Hotel reservations with more than 90 days lead time have hit their lowest level of the year, according to Hosteltur. This is no joke: it's the first time in 2023 that the long booking window has fallen this much.
My take is that travelers are waiting until the last minute. Could be due to economic uncertainty, oversupply, or because flexible cancellation policies killed advance bookings. But hey, this is also an opportunity. For hotels in Punta Cana, Puerto Plata and Samaná, it's time to sharpen revenue management, push last-minute deals and lure guests with experiences that demand an immediate booking.
This data point is not a drama, it's a wake-up call. Those who read it right and adjust their distribution and dynamic pricing strategy will come out ahead. In the Dominican Republic we have the strength of a strong market. Now it's time to play the short game.
Quick questions
What are bookings more than 90 days out?
Why did they hit a yearly low?
Is this bad news for Dominican hotels?
How does it affect destinations like Punta Cana or Puerto Plata?
What should revenue managers do now?
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