How do you quantify the value derived from exchanging unsold travel & tourism inventory for media exposure?
The concept of converting unsold inventory into marketing assets is equally relevant when applied to hosting travel writers (or any media specialist, for that matter).
Unsold bed-nights or packaged tour itinerary tickets, empty seats in restaurants, on tour coaches, and on airlines are very much like perishable products in the FMCG sector – if they're not sold by the due date, they’re gone forever.
Historical data, however, should provide an indication of average unsold inventory. In the accommodation sector, for example, global average occupancy rates for hotels can range anywhere between 60% to 80%. In South Africa, the occupancy rate of hotels and similar establishments in 2021 amounted to just 23%. (Statista, Nov 8, 2022).
In financial terms, this means that hospitality establishments are losing between 20% to 80% of their inventory. Inventory that could easily be con...
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Hi everyone! I am Chirag and I'm founder of an experiential holiday company LivingStone Stays. We are very soon launching an experiential holiday platform - Livingstone.holiday. It will be a one-stop solution to discover, plan and book experiential holidays. I am looking forward to hearing from you all.
Hi Chirag, thanks for sharing LivingStone Stays with the Travel Massive community.
What criteria do you use to determine what accomodations to list?
Hi Ian, Happy to share our story with the community. :)
The only factor we look at is that if property provides something experiential other than the stay. We have categorised experiences into 5 broader categories - (1) Relaxing, (2) Romantic, (3) Thrilling, (4) Celebrations and (5) Workcations. Any activity or service available at the property which goes inline with any of the above experience is suitable to list on the platform.