There is still plenty of time for a good season, but the slow start will put the burden on properties to identify when the market turns and to have an intelligent rate strategy
Pasadena, CA (Vocus/PRWEB) February 22, 2011
LeisureLink, Inc, the leading distribution and revenue management platform for boutique hotels, timeshare resorts and vacation rental properties, collects and analyzes millions of consumer lodging price points per week for dozens of markets across North America. As a service to the broader community of lodging suppliers, LeisureLink periodically releases market rate snapshots detailing specific time periods that may be of interest to property managers in a specific market.
This market rate snapshot looks at Williamsburg, VA for lodging stays between April 2 and April 9, 2011, a popular Spring Break week. It shows that there are challenges ahead for lodging suppliers in that market. Suppliers are encouraged to focus on their rates and occupancy levels. Some may need to lower rates in order to “put heads in beds.”
Click Here to view the data table.
Analysis and Interpretation:
Market rates for Spring Break have declined in Williamsburg, VA. This may be a function of unusually severe winter weather in much of the country. “Unfortunately, the bad weather may have delayed consumer interest in booking their spring break getaways in Williamsburg,” said Steve Reich, Senior Vice President of LeisureLink. “There is still plenty of time for a good season, but the slow start will put the burden on properties to identify when the market turns and to have an intelligent rate strategy,” added Reich.
Suppliers in the market are urged to monitor rates closely. “When demand for Spring Break bookings comes, it will come quickly,” added Reich.
LeisureLink offers comprehensive data and revenue management solutions to help lodging suppliers maximize the value of their perishable inventory on a daily basis if desired. To receive a complimentary market rate snapshot for your lodging market, please email [email protected]
How to Read the Data Table:
LeisureLink searched for and collected market rates on four separate occasions for a hypothetical guest stay between 4/2/11 and 4/9/11. These searches collected rates from hundreds of different lodging establishments across multiple websites. The median nightly rate on the date of each search is displayed for each category and star rating of lodging. The rate trend column shows which direction rates are moving, which is important for lodging suppliers as they seek to balance their own rate strategy with their desire to maximize the value of their perishable inventory. Finally, LeisureLink’s local market managers make recommendations to suppliers as to how to manage their rates depending upon their inventory position.
LeisureLink gives specialty lodging properties a decisive advantage online. Delivering a combination of powerful market analytics and broad distribution, LeisureLink maximizes online revenue and minimizes client overhead for vacation rental properties, timeshare resorts and boutique hotels.
For more information visit http://www.LeisureLink.com and to view properties go to http://www.ABetterStay.com. For more press resources, visit our newsroom.
For more information, please contact:
Senior Vice President, Sales