According to the Travel Technology Company Koddi, U.S. Hotel Demand Continues to Increase and Is Now Higher Than Any Point in 2019
FORT WORTH, Texas, June 30, 2021 (GLOBE NEWSWIRE) — As many Americans expect to travel during the Fourth of July weekend, Koddi, a leading travel advertising technology company, reports that U.S. digital demand has continued its climb to 2019 levels as the U.S. enters its historically busiest travel season as more travelers are looking to go to beaches or national parks. This has been at least partially fueled by a drop in the daily Covid-19 case rate that is now below the rate seen at the peak of the initial wave in March 2020.
The experts at Koddi believe that based on the current trajectory, it is likely that the Fourth of July holiday will bring near-record demand in the U.S. Historically, this holiday has had ~3x the demand as Memorial Day. Koddi has been carefully monitoring Covid’s effects on the hotel industry since the beginning of the pandemic through a monthly insights report. Over the past several weeks, Koddi sees a strong correlation between recovery and the rise in hotel searches.
Key insights from Koddi’s June report include:
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U.S. demand has continued to increase over the past month and is now higher than any point in 2019. The demand is expected to continue to increase over the next two months.
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Advanced booking windows continue to track towards historical levels. The 0 to 1, 2 to 7, and 8 to 30-day windows each have ~28% of the demand share, with the longer windows splitting the remaining ~16%. During the pandemic, the 0 to 1-day range had the most demand since travelers searched for rooms last minute.
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Cities along the Pacific, Atlantic and Gulf Coasts have had the strongest growth YTD as travelers eye beach destinations for summer travel.
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The top ten cities for demand growth this year include Las Vegas, Orlando, New York, Atlanta, Chicago, Nashville, San Diego, Miami, San Antonio, and Houston.
“The July 4th weekend continues the growing trend that we witnessed during Memorial Day weekend, which was the first time we saw travelers in mass looking to travel. It’s evident that travel and hotel demand is on the rise, and we can expect this to continue to be a busy season,” said Deep Kohli, Sr. Director of Client Services of Koddi. “We believe that this summer will be the turning point in travel recovery.”
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Download the full report on the Koddi website.
About Koddi
Koddi is a provider of adtech optimization and media management software and services, powering advertising programs that drive measurable revenue growth to the best brands in the world. The company’s award-winning SaaS platform provides a robust network for brands to connect with consumers and drive more revenue through native sponsored placements, metasearch, and programmatic media campaigns. With the Koddi platform, marketers can fuel their growth and harness real-time intelligence to drive informed decision-making across their marketing and media activities.
Media Contact:
Kyle Kuhnel
Broadsheet Communications for Koddi
kyle@broadsheetcomms.com
Originally Appeared On: https://finance.yahoo.com/news/travel-continues-bounceback-record-demand-120000675.html