A recent survey, carried out by Hotwire.com, looked at the shift in Brits’ attitudes towards spending and saving on travel and everyday objects and the impact that this has had on the travel industry, and hoteliers in particular.
Results from 'The Britain on Sale' report found that Brits are saving £32.1billion each year on all their purchases by using saving techniques such as shopping for sale items and using discount codes and that increasing numbers of Brits are not afraid to negotiate for a bargain.
According to the survey, travel has been strongly affected by this shift in attitude. When asked ‘how often they pay full price for something’, 30% of Brits surveyed revealed that they rarely, or never, pay full price for hotel stays. Some 21% say that they rarely, or never, pay full price for flights, and to save money on travel, 26% of British travellers use flight comparison websites and almost one in four (24%) booking with discount travel websites.
Hoteliers are experiencing the same shift from the other side of the coin. Some 75% of hoteliers are concerned that the omnipresent discounting is having a negative impact on their brand, and are worried that if their brand is seen as always on sale, it will be devalued.
As such, the report says that many hoteliers have had to become more sophisticated in the way they manage discounting, responding fast to changing occupancy levels.