Average booking values for summer 2023 ‘up 46%’

By Linsey McNeill
09/09/2022
Home » Average booking values for summer 2023 ‘up 46%’

Advantage members say they have seen the average booking value for summer 2023 holidays rocket.

Average prices for like for like holidays have risen 20% to 25% year on year, which follows on from an average price increase of 11% this year over 2019.

However, the latest Advantage Holiday Trends survey showed the value of the average booking has jumped 46% for summer 2023.

Chief Commercial Officer Kelly Cookes said this was due in part to rising air fares and hotel price increases, but also the fact that customers are upgrading their holidays or staying for longer.

“It is hit and miss, you can find examples of holidays that are lower or the same price as last year, but on average we are seeing 20% to 25% price increases and a 46% increase in the average booking value,” she said.

She said this was mostly due to air fare increases but also rising hotel costs, particularly in properties that haven’t been able to fully reopen due to staff shortages.

Advantage CEO Julia Lo Bue-Said described the price rises as ‘significant’ and said clients should be encouraged to book early to get the best deals.

While higher prices and the cost of living crisis don’t seem to be impacting bookings yet, Julia added: “The reality is that for our member it is pretty tough.”

She said working over the past summer had been ‘almost harder than during the pandemic’ because agents have had to deal with so many holiday cancellations and changes.

Many have lost and been unable to replace experienced staff, she said, and bookings are taking longer to convert and service because customers have so many more queries than previously.

In addition, members have come out of the pandemic with average loans of £500,000 to £1m, which has massively increased their costs, she said.

As a result, she said agents still need Government support.

 “We need to start lobbying [the Government] now, we need to work out what businesses need and make the case for specific support,” she added.

Share this article

Latest News

Loading