{"id":143,"date":"2015-04-23T10:03:00","date_gmt":"2015-04-23T10:03:00","guid":{"rendered":"https:\/\/erevmax.com\/blog\/?p=143"},"modified":"2020-01-28T09:02:52","modified_gmt":"2020-01-28T09:02:52","slug":"last-minute-booking-how-big-is-it","status":"publish","type":"post","link":"https:\/\/erevmax.com\/blog\/index.php\/2015\/04\/last-minute-booking-how-big-is-it\/","title":{"rendered":"Last Minute Booking: How big is it?"},"content":{"rendered":"
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The rise and rise of last minute booking has become a double edged sword for revenue managers. On one hand they have opened up an opportunity<\/span>  <\/span>to sell otherwise perishable inventories even if at a discounted rate to make some money; on the other hand guest, more smarter than ever with wide range lodging option, is now in charge, and forcing hotels to lower prices.<\/span><\/div>\n<\/div>\n

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With increasing ubiquity of mobile devices, there is a certain change in consumer behavior. Guests today are more confident than ever to research and find lodging option at the very last minute. According to a recent study by PhoCusWright, about 30% bookings come from Hotel Mobile booking  platform; 70% of them are from same day bookings.<\/o:p><\/span><\/div>\n

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A look at last minute travel booking<\/o:p><\/span><\/b><\/div>\n

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It all started in 2010 with the launch of HotelTonight. Since then there have been multiple entrants and OTA majors like Booking.com, Orbitz, Priceline, HRS and Expedia are making investments in this segment. For example, Expedia has been aggressively building its presence on mobile to meet its customers changing needs and 70% of its travel booking comes from last-minute bookings.<\/o:p><\/span><\/div>\n<\/div>\n
SEE ALSO:<\/b> The Rise and Rise of Mobility: how it is Changing World Travel<\/span><\/a><\/b><\/p>\n<\/div>\n
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So what really is last minute? In the hospitality industry, bookings windows of up to seven days in advance are known as last-minute booking. Within this there are three categories- <\/span>seven days or less, three days or less and same-day. Same-day booking are done on the day guests wants to stay. Mobile applications like HotelTonight allow travelers to book a room for the same day. <\/o:p><\/span><\/div>\n<\/div>\n

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How big is last minute travel?<\/o:p><\/span><\/b><\/div>\n

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While researching on how the growth of last minute booking segment, I has come across some eye-catching stats which I would share with you.  PhoCusWright reports <\/a>  that overall mobile search and booking volume is growing rapidly with gross travel bookings via mobile (phones and tablets) accounting for 27% in the US, up from just 5% in 2012. In UK, 1 in every 3 Britons book on the same day. The trend is more or less same in Asia Pacific as well, with 70% of mobile booking coming for same day stays.<\/span><\/div>\n


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