generalLodging Magazine··1 min·For: Owner, GM, Revenue, Marketing
PriceLabs: 82% of Boutique Hotel Guests Weigh Rentals
A new PriceLabs study reveals that 82 percent of guests staying at independent hotels and inns would consider short-term rentals if the price is equal or lower. Independent properties face twice as much rental competition as large hotel chains, driven by blended travel and side-by-side OTA listings.
Key Takeaways
- 148% of independent hotel guests would switch to a short-term rental at the exact same price.
- 2Independent hotels face rental competition on 30% of bookings, double the 16% rate for major chains.
- 3Hotel and rental rates show up to a 94% price correlation in major leisure markets like Mallorca.
Source: Lodging Magazine
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