Why We Should Be Optimistic About the Future of Short-Term Travel

Thursday 21st May, 2020 by host

With everything going on at the moment, it’s hard to see the light at the end of the tunnel for a lot of businesses. Travel restrictions, cancelled flights and closed borders are having an obvious impact on the short-term holiday let industry.

Of course, we’re not mind readers. There is no way for us to tell you what the future definitely holds but we’re feeling optimistic about the future of travel and the eventual recovery of the travel industry. Let’s take a look at why we should be feeling hopeful.

We May Be Stuck at Home But We’re Longing to Travel

Due to travel restrictions, almost everyone is confined to their homes right now but we’re seeing that a lot of people are already thinking of their first holiday once this is all over. In fact, people are actively researching travel now more than ever.

If you take a look at Google Trends, you’ll see that certain searches have spiked considerably recently. Whilst we’re seeing more searches for ‘how to cut own hair’ and ‘science experiments for kids at home’, travel related searches have increased considerably.

Google Trends ranks topics from 1-100 based on interest over time, with 100 being peak popularity. If we take a look at the UK right now, Scotland has a score of 100 for travel and England comes in close with a score of 98. For the actual search term ‘when can I travel’, we’re seeing an interest of 100 in Northern Ireland, 95 in England and 89 in Wales. Popular search terms also include ‘when I can I travel again’ which is up 60% and ‘travel agent near me’ which has increased a whopping 350%.

If you take a look at the search term ‘holiday home’, you’ll see a huge influx of interest with the term spiking at 100. Interestingly, the search for ‘Booking.com’ is up 1,150% and ‘summer vacation’ has increased by 300% too.

All of this shows that we’re not only thinking about travel – we’re actively searching and planning. This valuable data highlights that the travel industry is still relevant and important. With so many searches, we’re feeling positive that we’ll see a rush of bookings once this is all over.

Signs of Recovery in the Travel Industry

Understandably global occupancy rates are low but we are now seeing some travel markets start to recover. In China, around 87% of the country’s hotels are now open. Occupancy rates are turning in a positive direction too with an increase to 22%.

We’re also seeing a wonderful renewed faith in travel from both industry professionals and the general public. Airbnb announced last week that they recently secured a $1 billion investment, reenforcing the understanding that travel will return. Airbnb said that the ‘strategic investment will help strengthen Airbnb’s global community of hosts and guests who deliver unique, local, and authentic experiences in over 220 countries and regions.’

Travel is a Megatrend and One That Won’t Just Disappear

We can’t ignore the fact that the travel industry is huge for a reason. It is an important megatrend that won’t just disappear. For short-term holiday lets in particular, we think we’ll see an increase in staycations within the UK as people begin to travel again. As Marcel Proust once said ‘travel is the only thing you buy that makes you richer.’

So there you have it! Three reasons why we should all be optimistic about the future of travel and the travel industry.

At Host & Stay, our proven methods will help you to increase your revenue, improve your guest satisfaction and increase the overall profitability of your holiday let property.

Contact us today to find out more!

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