This webinar was presented by TripAdvisor's Sr. Account Executive Zakary Glasberg.
Market trend update
The five phases of travel recovery
In this difficult time, travel in every market will likely go through five key phrases:
1. Decline - News and concern spreads rapidly, people begin practicing social distancing and travel declines sharply as a result
2. Plateau - Potential travelers stay inside to ensure safety and help "flatten the curve." In the plateau phase, travel traffic bottoms out and consumers stay indoors in an effort to flatten the curve.
3. Emerge - As the crisis begins to pass, lockdown restrictions begin to ease and people venture out again to visit restaurants and businesses in their home cities
4. Domestic - As confidence continues to grow, people feel more comfortable traveling again and begin to visit friends and family in their home countries
5. International - In the final stage of recovery, people once again feel comfortable traveling abroad
There are two ways we can look at top city destinations:
1. Top city destinations based on number of users clicking to book hotels, domestically this week
2. Top city destinations based on fastest year on year recovery
New York drops in popularity rank, while Sedona, Arizona tops the recovery list as interest grows the most year on year. Travel planned one week out remains most popular amongst American travelers.
67% of all users clicking to book trips in the U.S. are doing so for one to two night stays. While shorter trips are more popular amongst TripAdvisor clickers, longer trips are down the least, as summer comes to a close and long weekend getaways are behind us.
Research takes a while: get ahead of it! 80% of research takes longer than four weeks to complete.
Luxury and open view properties are recovering faster than others. While summer may be behind us, beach properties continue to grow.
The TripAdvisor influence and traveler journey
TripAdvisor is the world's largest travel platform, according to Jumpshot for TripAdvisor Sites, worldwide, November 2019. TripAdvisor has 463 million average unique monthly visitors. They are in 49 markets worldwide and list 8.6 million accommodations, restaurants and attractions.
In 2019, TripAdvisor influenced: 470 million trips, three billion nights and $600 billion.
TripAdvisor is trusted more than any other travel brand. 80% of people say TripAdvisor makes them feel more confident in their booking decisions.
Why TripAdvisor? Because, in this difficult time, TripAdvisor is perceived more positively by the general population than any other major media brand. TripAdvisor is a trusted resource for hoteliers and travelers. 93% of hoteliers rated TripAdvisor as an effective tool to drive direct bookings.