Expedia has worked diligently to become the most well-known, most powerful marketing machine site for travel packages. They offer a full suite of bundle options called Expedia Travel Packages (flight/accommodation, flight/car, hotel/car, and flight/accommodation/car). Their consistency of pricing, global coverage, and ease of use make Expedia the favorite site for package travelers.
Vacation Rental Managers who do not take advantage of the power that Expedia package products offer may lose out on a significant amount of unrealized revenue. This becomes especially important for properties located in destinations that rely on air transport and/or international travelers. In certain markets, if you do not participate in package marketing, your properties may not even be seen by travelers. How impactful is the power of Expedia’s packages? These packages account for a substantial share of revenue in New York (52%), Oahu (29%), and Las Vegas (24%). A recent study conducted by Expedia revealed that package buyers booked on average, one month earlier than standalone (not bundled in a package) reservations. Standalone bookings are also 260% more likely to cancel their reservation than package consumers.
“Package bookings offer many benefits, to property managers and travelers, and to get the most value from packages, PMs should know their top origins markets, both domestically and abroad,” says Melissa Maher, SVP of Marketing & Industry Engagement. She added that hotels should offer “origin-specific” deals and promotions, monitor exchange rates in their top source markets, as well as knowing the key booking and travel periods for different international markets.
Interested in increasing your production by offering special package rates? VacayHome Connect’s Client Success Managers will guide you in optimizing your offerings on Expedia and attract more vacation package travelers. Contact us today!