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I want to know what % of hotel rooms, booked in the US each year, drop in price after they are booked and by what %?
The annual percentage at which U.S. hotel room prices drop after booking could not be found in any preexisting, pre-compilied form. This information could not be assumed or calculated because hotel companies do not report this information to statistical databases, and because finding room rates before and after a booking are not simultaneously available for reference. Please dive deep into our search for the requested information below for a better explanation and to review the information we were able to find.
FINDINGS
First, we found reasons as to why price drops occur. While the website is meant for consumers who are booking reservations, the topics covered are directly responsible for price drops and would be taken into consideration when pricing is arranged. Booking methods such as last-minute booking, holiday travel booking and over-the-phone booking are just some of the reasons hotel room rates fluctuate.
Because consumers can book and cancel far in advance or up until last-minute, and because these acts are made using several reservation methods where prices may not be the same across all avenues, the percentage at which price drops once booked can not be calculated. The dollar amount at which once reservation method may offer may be considerably more than another method would offer for the same room, therefore, price drops even for a single room can not be determined due to inconsistency of original booking price.
STATISTICS
Below is a list of statistical information surrounding the hotel industry's bookings, cancellations and losses due to cancellation and empty rooms.
Out of 4.9million hotel rooms in the U.S., one study showed only a 65.5% occupancy rate between 2007 and 2013, and this same 65.5% occupancy rate was found and published for a 2016 study.
$8.6Billion is wasted annually on 221,000 rooms which have been purchased, but canceled and are non-refundable.
POSSIBLE CONTINUED RESEARCH
One way to obtain some of the information requested, would be to contact the leading hotel chains directly and discuss their statistical data.
Another way to yield more results would be by viewing the same room at different times throughout the year or even over a few week span. This can show a pattern or trend in pricing, indicating when prices drop and by how much.
CONCLUSION
To conclude, the percentage of hotels which drop their prices and the average percentage of those reductions could not be found in any preexisting form, or calculated using any available statistical data. Other search avenues to consider would be to contact top U.S. hotels directly for the information, or to review the same room's rate over a period to compare drops and rises in rates, and when they occur.