Is Alternative Accommodation a Boon for the Travel Industry Post COVID-19?
Year 2020! An unforeseeable year of sudden changes and unexpected happenings. This beasty pandemic wrecked the travel industry and shook it completely. But as it’s said a rising tide lifts all boats, similarly a new segment in the travel industry is taking this industry at par with this pandemic.
This new segment is Alternative Accommodations. Today Travel enthusiasts are looking at safer options for travel and this need has given rise to alternative accommodations.
What are Alternative Accommodations?
These services are heavily dependent on online communities. They are those types of accommodations that are available outside of any formal or organized accommodation sector like hotels. They can be small homes, or private houses, which are excellent for budget travel options.
If you are still wondering what it is, think about Airbnb. Airbnb is having a long past relationship and deep roots in the alternative hospitality world. They grew this kingdom of alternative accommodation.
Why Alternative Accommodations are becoming so popular post-COVID-19?
The travel industry is not the same post coronavirus pandemic. Safety is now a priority for everyone!
Recently in an interview with Skift, Forgel the CEO of Booking Holdings mentioned-
“Since the travel restrictions got lifted, we are witnessing a shift in consumer behavior. About 40% of the new bookings that we got are for alternative accommodation which is a small house or private home or even a bungalow by the beach wherein the consumer does not need to share the place with anyone. We are anticipating that even after the Covid is over, people will still prefer alternative accommodation to regular hotels as their choice of stay,” said Fogel.
The stats clearly show that Leisure travelers are looking at small homes and private houses as their stay option rather than opting for hotels that are still considered unsafe. Alternative accommodations are much safer than the typical stays at hotels.
Even Vipul Prakash, group chief operating officer of MakeMyTrip said: “The diversified offerings from the hospitality industry in terms of alternative accommodation options are playing an important role in meeting the evolving demands of travelers. The results of this study show how this segment is gradually gaining a strong foothold in the market.”
Here are highlights which shows how alternative accommodations are proving to be a phoenix for the travel industry:
- Remote working with longer stays: Today remote work is the new normal, longer stays have become more common to avoid face to face interactions. So alternative accommodation is the best option for longer contactless stays.
- Less occupancy: Alternative accommodations are mostly having less occupancy as compared to hotels. So, there is less chance for the spread of the virus.
- Budget-Friendly:If you are looking for a long stay at a budget-friendly price then alternative accommodation is the best option for you. They are suitable for long business trips. They cost an average of about 40% less than upscale hotel options.
Post-pandemic, the alternative accommodation market is drastically growing, taking away the market share of traditional accommodation providers, such as hotels and hostels.
So, if you are looking for a safer option for your next trip. Then alternative accommodations are your perfect partner for that.
Established in 2018, Vervotech was founded by a team of passionate entrepreneurs, who came in with a collective experience of several decades in the travel technology industry. Vervotech aims at collaborating closely with travel agencies to help solve complex problems by leveraging artificial intelligence, putting data at the core of decision making, and being laser-focused on their clients’ business.