In a recent analysis of COVID-19’s impact on corporate hotel stays, TRIPBAM found that among corporate travelers Hilton is gaining market share over competitor Marriott and travel patterns are shifting away from city centers toward more suburban and rural properties.
The findings are detailed in the first edition of a new report series, the TRIPBAM Quarterly Market Report, which will analyze a fresh set of data and market trends in each installment. Other trends TRIPBAM has identified include:
- Corporate travelers are booking negotiated static/flat rates less often (down 37% year over year) and are instead booking standard rates the most (up 46% year over year).
- The average star rating of hotels booked has decreased by 0.4 compared to the same period last year.
- The average length of stay has increased by one day to 3.6 days and the average number of days booked in advance has increased by five days year over year, from nine to 14 days.