Hotel-Booking-Analysis
This report talks about the bookings and cancellations of various hotels around the world. The detailed analysis on the hotel’s bookings and cancellations will help in bringing out the useful insights which could help the hotels in transforming their pricing and marketing strategies, which may prevent cancellations and increase bookings, ultimately aiding to increase the hotels revenue.
Some suggestions/conclusions have been derived from the report:
● Cancellation rates rise as the price rises. In order to prevent cancellations, hotels should work on their pricing strategies and try to lower the rates for specific hotels based on locations. They can also provide some discounts to the clients.
● The resort hotels experienced lesser cancellations as compared to city hotels. So the city hotels can provide some reasonable discounts on room prices on weekends and holidays to prevent cancellations.
● In the month of January, the cancellations are highest, hotels can start campaigns or bring some relaxations in their pricing strategies to increase their revenue.
● Hotels in Portugal should look upon the quality and services of the rooms provided as the cancellations are highest in this country.