Coronavirus - What happens to my property now and after?
Written By: Nengli Leow - Business Development, Bukit Vista
Reading Time: 5 Minute
In times of uncertainty, increase your visibility on small but important marketplace signals
The global travel industry has been negatively impacted by Coronavirus. In 2019, Bali saw 437,537 and 449, 637 tourists enter in February and March respectively. This accounts for 14% of total inbound tourists to Bali in 2019 and we are expecting a much lower number this year given the travel ban. Although the ban applies only to China, we have been experiencing cancellations from everywhere in the world.
As a hospitality management company managing over 124 active properties in Bali, we have been tracking our daily performance (e.g.: volume of bookings, dates in-demand, cancellation rates, guests inquiries) to ensure we minimise loss of income for the properties under our care. Here are some to-date stats we will like to share.
PAST 30 DAYS DATA
Over the past 30 days, we have confirmed 2,514 bookings, across 124 properties. Which averages out about 20 bookings per property over the 30 days.
In February, we saw a total of 138 cancellations. Of which...
One of our key practices is - Pricing Agility.
Pricing Agility, in simple terms is the act of changing your prices to continuously increase bookings. To do this, you will need to know a few things.
Understanding how to price, is only winning half the battle. Staying updated on what guests require is also crucial during this period. Work for the hospitality industry doesn't stop when COVID-19 fades away. In fact, it's just the beginning.
To gather more data and insights on business recovery, schedule a free 20-Minute consultation with us.
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