Online reservations continue to increase in importance as more and more consumers demand real-time, instant reservations. This page will keep you up to date on industry trends and online reservation news; if you'd like us to address a particular topic, don’t hesitate to contact us.
 

Tips of the Month

A few announcements from BedandBreakfast.com
Online Reservation Trends
 

Tips of the Month
Did you know that you no longer have to choose two cancellation policies? We have changed the functionality so that you no longer have to enforce both policies if you prefer not to. You can now choose one policy or the other, or both.



Remember, the more lenient your policy, the more likely you are to receive an online booking. We recommend setting your policy to No refund if cancelled 3 days before check-in. This gives the guest adequate time to cancel, and it gives you a good opportunity to rebook the room.

To update your settings, log in to the Online Reservations Manager, click on Settings, and adjust your policy. Click Update Cancellation Policy to save these changes.

Eight simple steps to loading rates and inventory:

1. Pull up the room type you want to add to.

2. Click on the Add/Edit Range button.

3. Rate - Always click Set New, even if you're entering the same rate as you previously had. When you enter your rate, click on the blue calculator button to enter it. This will calculate your NetRate for you.

4. Availability - Always click Set New here as well, even if you're entering the same number as before. Please enter the quantity of this room type that is available.

5. Set any min/max stays you may have.

6. Apply to the following dates - Chose a date range that you want to add. If you only want to enter these rates for the weekdays, make sure to uncheck the weekends, and vice versa.

7. Click the Save Changes button; that's the final step.

8. Remember to black out any dates that are currently booked to avoid any potential double bookings.

Questions? Contact Online Reservations Support at 800-GO-B-AND-B (800-462-2632), extension 4; 512-322-2700, extension 4 or Reservations@BedandBreakfast.com.

Announcements  from BedandBreakfast.com
More than 600 properties are now live on Expedia.com. Many of you who participate in BedandBreakfast.com Online Reservations are not yet live on Expedia.com because you haven't signed the current Agreement. Please do so as soon as possible so that we can secure placement for your property on Expedia. Log in with your ID and password, and click the orange Online Reservations Contract button to access and fill out the Agreement.

The winner of the free Platinum membership is...Thanks to all who signed up for the BedandBreakfast.com Online Reservations program during our one-day promotion. As promised we held a drawing for a free Platinum membership, to be awarded to one of the newly participating properties. Eric Goldreyer, founder of BedandBreakfast.com, drew the lucky property at random, supervised by the members of the Online Reservations Team.

We’re excited to announce that The Danbury Inn in Danbury, NH, won a free upgrade to our Platinum membership level for the remainder of their current membership term, plus a free Platinum membership for the following year!

Trends in the World of Online Reservations
Online spending up: “Total online spending by consumers reached $41.3 billion in the third quarter, representing a 16% increase versus the same period in 2005, according to a recent comScore Networks U.S. e-commerce report.

“The report looked at sales estimates for the third quarter of 2006 and the entire year forecast, finding that online non-travel spending increased to $23.1 billion, up 23% from last year’s $18.8 billion in the third quarter. Online travel spending so far this year rose 13% to $52.9 billion and third-quarter revenue in this sector was $18.2 billion, up 9% from $16.8 billion in last year.

“Overall, comScore currently forecasts that total consumer online spending in 2006 should reach approximately $170 billion. Of that total, comScore estimates that non-travel e-commerce will break the $100 billion threshold for the first time.

“The slower growth rate in online travel spending may be because almost 70% of online travel spending comes from air travel, a sector already well penetrated online. Thus, according to Gian Fulgoni, chairman of comScore, there are fewer people left to migrate online to conduct a purchase."

Major Chains Report Internet Bookings Growth of 20%: TravelCLICK’s consolidated second quarter eTRAK results show that the Internet contributed 37.3%, or 7,605,440 reservations, of the total Central Reservation Office (CRO) reservations at major hotel brands – a 19.9% increase compared to the same period in 2005. Global Distribution System (GDS) e-commerce had 36.4%, or 7,425,301 bookings, of CRO reservations coming through those channels – a 4% increase over Q1 2006.

This is the first quarter that Internet reservations surpassed GDS reservations. The company predicts that GDS will continue to grow, but at a slower rate for at least the next 24 months as this channel represents primarily steady corporate and business travel.

The eTRAK report shows that phone reservations represent the remaining 26.3% of CRO reservations, down 1.2% over the same time last year. Phone reservations continue to lose share as consumers migrate to the web, but still offer an alternative for the older population demographic and those with limited or no Internet access.

The company predicts that voice reservations will decline, but hoteliers can expect the voice channel to increase in profitability as call times decrease and conversion rates grow due to consumers researching destinations and making buying decisions online before calling to confirm.

According to eTRAK, brand websites were the source of 79.3% of the brands' centrally booked Internet reservations. Supplier websites will grow to 35% of CRO bookings as hoteliers continue to recognize the value of presenting their identity online and investing in e-commerce websites that provide a simple yet dynamic shopping experience.

U.S. is leader in online travel: In 2005, the United States represented one third of the total travel gross bookings in the three key economic regions of the world – North America, Western Europe and Asia Pacific (APAC). But according to the upcoming report PhoCusWright’s U.S. Online Travel Overview Sixth Edition, America registered over 60% of these markets’ total online travel bookings.

In 2005, travel revenue totaled nearly $700 billion in North America, Western Europe and Asia combined, and close to one quarter of that total was spent online. That fraction, comprised of both online leisure/unmanaged business and corporate travel, is projected to surpass two fifths by 2008.