Top 10 hospitality news stories — week five of September
1. FIVE TRAVELER TRENDS SHAPING THE FUTURE OF ACCOMMODATIONS | Phocuswire | 2022.09.28
Hotel distribution platform SiteMinder says inflation won't stop people from traveling, and the fusion of business and leisure trips will drive hotel innovation.
According to the Changing Traveller Report, value for money is the top reason travelers return to a hotel. 53% of travelers say they spend more time searching for good deals than they did two years ago. That makes intelligent, real-time data crucial for pricing — not guesswork.
Hotel operators need to know how competitors price their rooms, sure. But they also need to understand which regions and channels drive the most revenue. A senior advisor at Alibaba's travel platform Fliggy echoes the point: data-driven pricing models based on competitive and market analysis are critical for the tourism industry.
Data-driven room pricing will only become more essential to hotel and accommodation operations.
Trip.com's Sustainable Travel Consumer Report finds that 8 out of 10 travelers recognize the importance of sustainable travel.
The sustainable travel trend offers a major opportunity for OTAs. 50.7% of travelers want OTAs to clearly label sustainable options, and 93% say they'd consider booking on a platform that offers them.
67.7% of travelers are willing to pay more to include sustainable options in their trips. All signs point to sustainable travel gaining momentum.
Yanolja and Yeogi Eottae have been summoned as witnesses for this year's National Assembly audit. They'll face questions about alleged illegal activity and excessive commission fees.
A representative from the lawmaker's office requesting the testimony said, "Minors co-sleeping at motels is illegal, yet booking apps make it easy. We need to review preventive measures." In fact, 8,893 out of 2 million coupons used during Korea's 'Great Accommodation Fair' were redeemed by minors.
Last year's audit criticized Yanolja for charging excessive commissions and advertising fees. The company promised to lower some fees. Accommodation operators say not much has changed. We'll see if this audit produces real reforms.
4. TRAVEL APP BOOKINGS UP 16% AS CONSUMERS EMBRACE DIGITAL SOLUTIONS | Phocuswire | 2022.09.27
A PYMNTS survey of over 15,000 consumers across 11 countries finds that bookings via travel apps jumped 16% in Q2 as consumers embrace digital solutions.
The travel industry — flights, accommodation, you name it — saw the biggest digital transformation gains this quarter. The top risers: airline apps and websites (up 15.8% quarter-over-quarter), transportation apps and websites (up 15%), and home-sharing apps and websites (up 13.3%).
Meanwhile, an Amadeus report from August shows consumers rank travel highest in discretionary spending. 42% of consumers plan to spend on international travel in the next year, with an average budget of ₩3.82 million ($2,670 USD).
5. "Finally Going to Japan"… Weak Yen and Visa-Free Entry Spark Travel Boom | Segye Ilbo | 2022.09.26
Asia-Pacific countries like Japan and Hong Kong are gradually lifting entry restrictions.
Japan will allow visa-free entry starting October 11. Hong Kong ended hotel quarantine requirements for arriving travelers after more than two years.
Japan bookings are surging on the back of the weak yen. Modetour saw a 140% week-over-week increase in Japan bookings from September 14–22. Hanatour reported a 777% increase in average daily Japan bookings from September 1–22 compared to the same period in August. The numbers speak for themselves.
According to a travel agency rep, Japan is Korean travelers' favorite destination, accounting for over 30% of outbound trips. The weak yen and visa-free entry mean Japan fever isn't cooling off anytime soon.
6. "We'll Discount Your Stay"… Tourists Given ₩40,000 Spent ₩460,000 | Money Today | 2022.09.28
How effective was Korea's 'Great Accommodation Fair,' designed to revive the tourism industry hit by COVID-19?
According to the Korea Tourism Organization, 1.04 million tourists used discount vouchers during the campaign, with a total estimated impact of 2.55 million visitors.
Total travel spending hit ₩489.4 billion. Travelers spent an average of ₩463,000 — 11 times the average voucher amount (₩41,000). 76% of vouchers were used outside Seoul and Jeju, meeting the goal of boosting regional tourism economies.
92.6% of survey respondents said the vouchers improved their trip quality. 95% said it eased COVID-19-related stress. The Fair delivered for both consumer happiness and industry recovery.
7. Golden Week Trends for October Holidays… "Short, Nearby Trips Preferred" | Yonhap News | 2022.09.28
Yanolja and Interpark analyzed booking data for October 1–10 and released Golden Week travel trends.
82% of travelers plan one-night, two-day domestic trips during the holiday stretch.
Regional bookings: Gangwon-do (25%), Busan (20%), Gyeonggi-do (19%). Accommodation type: hotels (43%), pensions (36%). Car-accessible hotels and pensions near the capital region remain popular.
For overseas package tours, 3-night, 4-day trips accounted for 44% of bookings. Top destinations: Vietnam (23%), Thailand (11%), Japan (10%).
For this relatively short holiday window, short-range domestic and international trips dominate demand.
8. Gen Z Travels Adventurously — The Rise of Activity-Based Travel | Sometrend | 2022.09.21
A survey by leisure activity platform Frip finds 72.4% of Gen Z and Millennials plan to participate in activities during their vacation.
Q3 2021 activity sales jumped year-over-year: surfing up 170%, camping up 160%. The Korea Culture & Tourism Institute predicts travelers will care more about "what they did" than "what they saw," driving demand for memorable experiences.
In response, travel agencies are launching experience-focused itineraries. Hanatour, for example, offers 'themed tours with expert guides'.
40.1% of themed tour bookings at Hanatour come from people in their 20s and 30s. The most popular? Photography tours. The company plans to expand offerings — art tours, influencer-led tours, history tours — tailored to Gen Z tastes.
Hotels and accommodation providers should develop activity content for this new breed of experience-seeking travelers.
In an interview, Catherine Powell, Airbnb's Global Head of Hosting, said "The Korean market is like a beacon for Airbnb."
Q2 2022 Airbnb night bookings in Korea rose 20% year-over-year — and 60% compared to 2019, before COVID. Global searches for Korea on Airbnb jumped 150% year-over-year. Korea's rapid growth makes it a strategic market for Airbnb.
Airbnb rolled out 50+ property categories in May, including Japan's ryokan. Powell noted, "Hanok is a very popular accommodation style on our platform," adding, "The possibility remains that hanok could become its own category."
We hope to see hanok featured as a standalone Airbnb category, showcasing Korea's traditional architecture to international travelers.
Nielsen Media Korea reports that monthly active users of travel and accommodation apps are surging as domestic and outbound travel demand rebounds.
August's top 5 by MAU: Yanolja, Yeogi Eottae, Agoda, Airbnb, Skyscanner. All saw big year-over-year gains as the endemic phase boosts travel.
Korea's domestic OTAs — Yanolja and Yeogi Eottae — have the highest share of exclusive users, signaling strong loyalty among Korean travelers.
Yanolja had the highest overlap rate with other services. Users of Airbnb, Agoda, and Skyscanner frequently use Yanolja alongside those platforms.
