Download: The Effect of Reviews on Hotel Conversion Rates and Pricing
TrustYou, working in conjunction with Donna Quadri-Felitti, Academic Chair and Clinical Associate Professor at NYU Preston Robert Tisch Center for Hospitality and Tourism, developed a study to understand the effect that reviews have on hotel conversion rates and pricing. This study is the first of its kind using simulated booking engines and heat mapping technology to determine consumers’ hotel choices.
Key Findings From The Report
- Travelers are 3.9 times more likely to choose a hotel with higher review scores when the prices are the same
- When hotel prices are increased for hotels with better review scores, travelers are more likely to book the hotel with the higher score even when it costs more
- 76% of travelers were willing to pay more for a hotel with higher review scores, when asked explicitly