HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack

RateGain’s PULSE report for May shows No Impact of Global Inflation on Travel Demand

Thursday, June 16, 2022, 12:03 Hrs  [IST]
HBI Staff | Hyderabad

 RateGain Travel Technologies, a global SaaS provider for travel and hospitality, in its latest edition of PULSE report shares insights by analyzing demand from over 191000 hotels as well as monitoring future travel demand from over 60+ cities.As per the report, travel demand continues to stay strong across the world even in the wake of high inflation and an anticipated global slowdown due to lockdowns in China as well as the ongoing conflict in Europe. The finding of this month’s report is in line with the recent data from the United States Commerce Department according to which Inflation-adjusted spending on goods fell 0.5 percent while services rose 0.6 percent. Not adjusted for inflation, the gain in services spending was broad-based and led by components including international travel, restaurants and hotels.  

A never before seen May in India

India continued to see its monthly bookings grow with tourist destinations up north as well as down south attracting more bookings, as families plan to step out during the annual summer break for the first time in two years.
While hill stations were already witnessing a spike of 100-150% in April as per the last report, the same destinations are now witnessing a growth of 50-60%. This is in stark contrast to last year when India was under the grip of a deadly second wave of coronavirus. When compared to May 2021, India’s bookings have grown by 178% even though the country witnesses high cost of travel. The capital city of Delhi continues to clock double digit growth in bookings and a 65% increase in ADR when compared to last month, even though the city battles a record breaking heat wave


South East Asia and Middle East Surge As Summer Travel Begins

Despite high airfares, a looming recession, we saw a month on month growth of 38% in bookings across the most popular 20 destinations in the month of May led by a massive surge of bookings in Turkey, Jordan and Malaysia followed by other countries in Asia such as Oman, Singapore and Indonesia. Thailand, Singapore that had very strict COVID protocols and relied heavily on inbound arrivals have seen an increase of 846% and 465% YoY when compared to May 2021


High Hotel Rates Not Deterring Travelers

Even with 60-70% price rise predicted over the next three months, South East Asian Cities Bali and Kuala Lumpur are seeing the fastest growth in bookings followed by Koh Samui and Pattaya as International travellers land in Asia Pacific region for the first time in 2 years. We are witnessing a similar trend in Central Europe where Zurich, Munich and Berlin continue to see high interest as compared to April even though prices continue to soar due to inflation.


Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
* Name :    
* Email :    
* Message :  
»  India emerges as the global leader in travel in 2022 as per TLN survey
»  Jharkhand Tourism Policy envisions changing global perspective about the state
»  Cedarmint Global announces the signing of debut resort property, The White Resort & Spa Pawna
»  Otis’ Made to Move Communities Global Challenge recognizes students representing Otis India for their innovative mobility solution
»  Travel Start-up, Moonstone Hammock Opens Its 'Buddha Cafe' To All
»  RateGain’s PULSE report for May shows No Impact of Global Inflation on Travel Demand
»  Varanasi in East, Shirdi in West, Amritsar in North, Tirupati in South are India’s top spiritual-travel destinations: OYO's Treasure Trove of Cultural
»  Seventh edition of Global Hospitality Conclave held in Capital after a hiatus of two years
»  Betting big on business travel, OYO adds more than 1,250 corporate clients since March 2022
»  Ovolo Hotel Group launches global ‘Plant’d’ initiative
»  Mercure Chennai Sriperumbudur presents an culinary journey through ‘Grand Trunk Road’ from 16th to 31st May 2022
»  Good Travel with Marriott Bonvoy expands to close to 100 hotels and resorts across Asia Pacific
»  Gin Explorers Club - Space City Edition, Mumbai scheduled for May 7th and 8th
»  Luxury travel platform Bear Luxe Japan inks new deal with Sabre
»  The RARE Showcase 2022: Sustainability and revival of inbound travel were the major topics of discussion among the travel fraternity
»  Indian Tourism & Hospitality performance report 2021 by Noesis says domestic travel is driving the recovery
»  RateGain Industry Report Suggests Strong Momentum in Global Travel Recovery
»  Beam Suntory Launches Limited-Edition Bowmore 1965 Precious Metals Exclusively To Global Travel Retail
»  Hospitality sector may soon get infra status
»  BookingJini Partners with Uttarakhand Tourism to Boost Demand - Supply Reservation
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar

© Copyright 2016 Saffron Synergies Pvt Ltd