Hong Kong: 5 key insights that can help you boost your bookings
March 26, 2018
Whether you own a single property in this breath-taking city of China or a world-wide portfolio, our cityscape insights*, take advantage of our trends and tips to help give your property a boost when planning your promotional activities to travel agents for the next 12 months.
- Year-on-year city growth
When it comes to maximizing occupancy and profitability year-round, hoteliers here are benefitting from strong growth. Since March 2017, hotels in Hong Kong have seen bookings increase on average by 8.2%. In addition, the length of stay for travelers has marginally increased by 1.2% with guests staying just under three nights. As a result, demand for room nights have increased by 9.5%.
Raise your profile the smart way and ensure you don’t miss out on maximizing your brand awareness. Consider promoting to a pre-qualified audience of travel agents who are actively looking to book properties just like yours via a global distribution platform. This season, keep your hotel front of mind and your rooms full when agents and travelers search for properties in your location.
- Only 4% of bookings are domestic
96% of hotel bookings are inbound and originate from 58 countries, with the top five agency bookings originating from the US (27%), Singapore (25%), UK (14%), China and Japan. When considering where to focus your marketing spend, concentrate on tapping into these key feeder markets to reduce waste spend and maximize your budget and return on investment.
- 22 additional properties in the last five years
Bookings may have increased, but so has investment from other hoteliers as 4,800 new hotel rooms have been added to the market since 2013. The question is, are you getting your fair share? As competition in the market increases, consider promoting your hotel’s unique features and benefits to enhance your competitive advantage.
- Key seasonal peaks
Booking patterns in Hong Kong typically follow and demonstrate key corporate travel periods in March, June and between September to November. We see less corporate travel taking place during July, August and December to February. To maximize your hotel’s profitability year-round, ensure you promote your rooms well in advance and consider tailoring your message to your target audience.
- Consider promoting your property at least 18 days earlier
If you are considering promoting your property, hoteliers in Hong Kong typically see 33% of bookings made within seven days of arrival, with the average lead time of 18 days. Keep in mind that the lead time peaks for bookings occur during October to December with bookings made more than 24 days in advance. Hence, to maximize year-round bookings and drive additional revenues, ensure this is factored into your promotion schedule.
Drive additional bookings this season by advertising to travel agents globally
Ready to give your bookings a boost? Be ready for the next seasonal peak and make sure you don’t miss out. Talk to a digital media specialist who can help you leverage these insights, and can work with you and your property to design marketing campaigns that can typically see an average return of up to $44 dollars for every $1 spent on preferred placement advertising for properties in Hong Kong**. On average, Travelport Featured Properties typically convert 11.4% higher than non-featured properties in the city**.
Can you tell me about my city?
Are you a hotelier interested in finding out about local trends in Hong Kong or in your local city? Simply click here to request your complimentary 1:1 cityscape review with a Travelport digital media expert.
*Based on Travelport Booking data
**Based on bookings delivered by Travelport Featured Property between February 2017 – March 2018