Booking.com Implements Long-Term Stay Rates
AMSTERDAM—Search trends from Booking.com reveal that various types of travelers are increasingly looking to stay in a single place for longer, bringing them the opportunity to experience a destination in a whole new way. Innovating to respond to this growing demand, the travel platform recently introduced a way for its property partners to implement weekly and monthly rate plans to attract travelers looking for longer stays with a great price.
While any property partner on Booking.com can implement these new rate plans to help boost occupancy by capturing new types of guests, for many longer-stay travelers, the privacy, space and additional amenities of homes and apartments will be key reasons to book. Travelers have opted for homes and apartments more often in recent years, with the COVID-19 pandemic accelerating that trend. In the second quarter of this year, about 40% of Booking.com’s new bookings were for alternative accommodations.
“As part of our commitment to helping our property partners—from hotels to vacation rentals—rebuild their businesses, Booking.com is continuously exploring new ways to help deliver business to them by providing the tools and tailored insights they need to effectively respond to the evolving travel environment,” said Eric Bergaglia, the global head of Booking.com’s homes and apartments business. “Introducing weekly and monthly rate options is just one way we’re doing just that, helping partners capitalize on new sources of demand as a growing number of customers look to explore the world with a longer stay, thereby securing additional revenue as the travel industry begins its recovery journey.”
Alongside the introduction of the new weekly and monthly rates, Booking.com has simplified its search experience to help customers find their next stay, introducing filters for customers looking for private, whole home accommodations and properties that have implemented health and safety measures. As remote working becomes the new norm, and with location independence an increasingly viable option for more people, the platform is also helping travelers more easily find properties that have dedicated workspace, wherever their travels take them.
Looking ahead, Booking.com will continue to look for new ways to respond to evolving traveler demand on the platform and in turn support property partners in attracting new types of traveler and capturing more bookings.