The HotelHub’s Index report reveals a growing gap between the time of booking and check-in date for business travel hotel reservations. Photo Credit: Adobe Stock / Jacob Lund
Around the world, the gap between time of booking and check-in date for business travel hotel reservations is now getting longer. That is one of the most notable trends revealed by the latest HotelHub Index report for the last quarter of 2204.
Longer lead times: On average, booking lead times reached 17.35 days for all bookings in Q4 2024, an almost 7% increase on the same period in 2023.
Shorter stays: The average length of stay for business travellers in Asia is now 3.07, significantly longer than the global average of 2.50 in Q4 2024.
Stabilising hotel rates: Hotel rates in Asia have shown signs of stabilisation after a period of significant increases. The average nightly rate in the region for Q4 2024 was US$169, a 7% increase compared to Q4 2023. This is a positive sign, indicating that the rate of price increases is tapering off.
The report notes, “While inflation was a major concern throughout 2024, the rate at which prices are increasing is stabilising.” This trend is crucial for businesses as it helps inform budgeting and planning for travel expenses.
Regional variations: The report also highlights regional variations in booking trends within Asia. For instance, popular cities like Singapore, Tokyo and Hong Kong have seen a significant increase in booking volumes, nearing pre-pandemic levels. In contrast, other regions are still catching up.
The data shows that domestic bookings in APAC accounted for 55% of all bookings in Q4 2024, compared to 52% in the same period in 2023. This shift indicates a growing preference for domestic travel as businesses continue to exercise caution in international travel planning.