Home » TRAVEL NEWS » Beyond’s Latest Survey Unveils Shifting Traveler Preferences And The Growing Role Of AI And Eco-Friendly Accommodations
Tuesday, August 20, 2024
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Beyond‘s new survey highlights shifting traveler preferences, growing AI acceptance, eco-friendly trends, and the critical need for real-time data in short-term rentals.
Beyond, a trailblazer in revenue management within the short-term rental (STR) industry, has unveiled the results of its recent consumer travel survey. The study offers crucial insights into shifting traveler preferences, emphasizing the increasing demand for real-time data tools among property managers, hosts, and hospitality experts. As the summer travel season concludes and fall and winter bookings gain momentum, these findings underscore the importance of re-evaluating data-driven strategies in the hospitality sector.
“One thing remains true in our post-pandemic world: people want to travel – and now more than ever, travelers want to curate their trips in order to create unforgettable stays,” said Julie Brinkman, CEO at Beyond. “Our insights provide a roadmap for hospitality businesses of all kinds to enhance their revenue management, distribution and marketing strategies. By harnessing consumer preferences and trends, they’ll create the personalized, engaging experiences that modern travelers are demanding.”
Survey Highlights:
Emerging Trends and Technology:
- AI Integration on the Rise: The survey reveals a growing interest in AI for travel planning, with 43.9% of participants open to using it, while 56.1% remain cautious, indicating a gradual shift towards AI acceptance in the travel industry.
- Eco-Conscious Travel Gains Momentum: The study shows that younger travelers, particularly those aged 18 to 24, are increasingly drawn to eco-friendly accommodations and intimate travel experiences, with 48.1% favoring smaller group settings.
Booking and Trust:
- Importance of Transparency: The findings indicate that 50.3% of travelers would lose trust in vacation rentals if misled by inaccurate property listings, underscoring the need for authenticity and quality control in the short-term rental (STR) market.
- Ongoing Privacy Concerns: With 24.9% of guests actively searching for hidden cameras in STRs, the industry faces continued pressure to enhance transparency and build trust with consumers.
Personal Preferences and Amenities:
- Shifting Vacation Dynamics: A significant 63.8% of respondents prefer separate bedrooms when traveling with partners, reflecting a move away from traditional vacation arrangements.
- Amenity Preferences: Over half of the travelers, 53.2%, expressed the need for poolside cocktails to endure Italy’s summer heat, highlighting the importance of offering personalized amenities.
Beyond demonstrates its dedication to advancing revenue management by integrating real-time consumer insights into its innovative Search-Powered Pricing solution, now deployed across more than 40 global markets. This cutting-edge tool empowers STR operators to leverage real-time consumer search data, optimizing pricing and distribution strategies. This capability is particularly crucial in today’s economic environment, where shortened booking windows and reduced travel spending make predicting future revenue more challenging for the industry.
Discover how Beyond’s Revenue Management System can help you harness real-time data to enhance your business strategies.
