Every year right as school lets out, I collect my family, and we race to Destin, Florida. Why? As a revenue manager, I help hotels and VR (Vacation Rental) owners set rates for their rooms based on demand, and I know once Memorial Day Weekend hits at the end of May, prices will skyrocket. It’s the beginning of summer, so it’s still warm, and the mass throngs of people haven’t made it down there just yet. It ends up being a great time for our family, and my wife’s family.
I’m supposed to be in Destin right now on the beach writing this, but instead, I’m sitting at my kitchen table watching my parakeets tear up the playground we bought them. We had to cancel our trip due to the pandemic. We’re pretty depressed about it, naturally. My wife is sad that we won’t get to take a vacation this year, but I am determined to have my rear in the sand and a neon-colored drink in my hand by the end of the summer.
I’ve started looking for dates at the end of June, but my wife thinks that’s too soon. Now I’m looking at the first full week in August. I spoke to my friend last night, and his family of four is doing the same. This leads me to believe that the last half of the summer will be strong. Many experts were hoping for (and even predicting) the release of pent up demand, but in my hometown of Branson, Missouri, hotels saw about 20% occupancy during Memorial Day Weekend.
I think it’s just a touch too soon. Many people (my family included) are waiting to see what happens during the first few weeks of summer as people begin to venture out. After watching the extreme behavior this past week at Lake of the Ozarks I’m thinking this is probably still a wise strategy.
I think there’s a good chance that things could continue to progress in a positive direction. What’s that mean for the hospitality industry? That supposed dam of pent up demand bursts and people rush to complete their summer vacation as it looks safe enough to venture out.
China was the first domino to fall in this disaster, and even 13% there plan to travel within the next 3 months. I think this attitude will spread across the world as other areas continue to recover.
Although I know the world doesn’t revolve around my family, I doubt we’re the only ones who have been scouring the internet with our free time hoping to still pull off our summer vacation. If I’m right, this could mean a strong second half of the summer for my clients and for the hospitality industry as a whole.
I’m going to wishfully pack my bags and pray that we can pull it off. If I can be a help to you or your business, please reach out to me and I’ll be happy to speak with you for free. Be well!