Average cart abandonment for online transactions has reached 5%
Profitroom data reveals booking window reaches 41.5 days
Booking engine Profitroom has released data that shows hoteliers are seeing an increase in confidence from customers with the average guest booking window reaching a three-year high of 41.5 days.
The findings provide welcome relief for hoteliers who continue to face significant challenges as soaring interest rates have seen household incomes squeezed.
The data from Profitroom revealed the average booking window for the UK, and was sourced from its portfolio of three thousands five hundred sites.
It marks a continued recovery for the sector as it targets a return to the confidence of the pre-Covid era when average booking windows exceeded two months.
Further Profitroom analysis highlighted a growing obstacle for many hoteliers on the road to recovery.
It discovered that the average cart abandonment rate for online transactions has now reached 5% of all bookings.
Users of its booking engine have seen the figure shrink three-fold to just 1.7% of transactions.
Patryk Luszcz, regional director of Profitroom, said: “After a turbulent few years, our hoteliers are finally experiencing the long-awaited rebound that we hope will return them to the heights of pre-Covid.
“The recovery is most evident in booking windows, where Brits are now booking their stays 41.5 days in advance of their breaks. This figure is steadily approaching pre-COVID levels when consumer confidence was at an all-time high and the average UK booking window exceeded two months ahead of trips.
“Even in the midst of the cost-of-living crisis, this number highlights the resilience of this growth and the increasing confidence of UK holidaymakers who are ready to book with far less hesitation.
“Yet at the same time, we are seeing cart abandonment rising, meaning five per cent of transactions are falling at the final hurdle.
He added: "Technology such as Profitroom’s advanced booking platform can play a really important role in driving down this rate and restoring valuable revenue to hoteliers.”