Global Hotel Budget Priorities [CHART]

Chart: Global Hotel Budget Priorities
In the brutally competitive hotel business, staying top of mind with consumers is a difficult challenge. The realities of the sector are leading more hotel professionals to increase their 2017 budgets for digital marketing and social media strategy in a bid to grow consumer awareness and attract more guests, according to a January 2017 survey.

When hospitality marketing platform SiteMinder asked hotel professionals worldwide about their projected budget allocations for the next 12 months, 48% of respondents said they planned high spending to go toward digital marketing, while 44% said they intended to designate high investment in social media strategy.

One reason hotel professionals are doubling down on digital marketing and social is the growing market power of accommodations upstart Airbnb. Hotel operators must also compete with the deep pockets of online travel agencies Priceline and Expedia, both of which spend considerable sums each year on consumer marketing campaigns while simultaneously cutting into hotel profits by charging commissions for customer referrals. Read the rest at eMarketer.

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