The last few months have been incredibly challenging and confusing for everyone in the tourism industry. However, as the situation stabilizes throughout Europe, and especially in Croatia (in Croatia today we have 0 new cases), there is a relaxation of measures, borders are slowly opening, hotels are opening slowly, so there is optimism and tourism is waking up, even the first tourists already on the Adriatic.
Although it is difficult to predict anything, everyone is wondering what the real situation is with reservations: what happens to previous reservations and what is the real interest around new reservations or what is the overall state of booking.
It is the Rentlio Trend Tracker analyst that gives us an excellent insight into the current state of booking (the ratio between new and canceled bookings).
Zadar IT company Rentlio, which has developed an application for automation of the entire business of small tourist facilities - apartments, small hotels, hostels, has published an extremely useful tool - Rentlio Trend Tracker which gives us an insight into the recovery trend of the tourism market, and which is based on live data of more than 7 thousand accommodation units managed through Rentlio.
Rentlio Trend Tracker (RTT) shows the ratio between new and canceled bookings at the day level. A Rentlio Trend Tracker value greater than 1 is a positive signal, which specifically means that guests book more new appointments than cancel existing bookings.
With Rentlio Trend Tracker, we want to provide all tourism workers with timely information on the change in the negative trend we are affected by, he said. Marko Mišulić, director and founder of Rentley.
“The index collects live data at the level of our entire customer base, which consists of over 7.000 accommodation units. When the index exceeds 1.0, it means that the number of new bookings in the day was higher than the number of cancellations of existing bookings. If, for example, out of 100 reservations we have 75 new and 25 canceled, we will get a Tracker value of 3. For comparison, the average daily value of the Tracker in the first six months of last year was 2"Misulic points out.
So, this graph shows us the current state of reservations, but I also give us an insight into the development trend around reservations, because everyone is wondering what will happen to the reservations for July, August and September, which are booking before the outbreak of the covid19 epidemic.
"Most cancellations of reservations in the last two months related to the period until July, but not reservations for July, August and September. It is now important to follow this trend to see if the trend of canceling reservations for the “peak season” continues or the trend is turning positively in our favor. What is a fact and what is clearly seen in the chart is how positive shifts have been noticed in the last ten days”Concludes Mišulić.
At the beginning of the crisis or when the whole situation with coronavirus escalated somewhere in mid-March, the index was 0,10 or 0,15, which is clearly seen in the graph, while at the time of writing (16:12) the RTT index was 0.94, which means we are close to the recovery line.
Follow the current situation from minute to minute Rentlio Trend Tracker