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Further outlook Luxury stay will be affordable

Easing out of travel restrictions have begun in certain states. This has made the travel industry a bit proactive in order to attract tourist and to flourish tourism.

Different people have a different mindset. There are a set of people who believe in secluding themselves to a safer place, with less crowd, away from the city. Places where there is a less impact of covid 19, social distancing can be maintained with ease. Then there is a different mindset of people who just want to travel despite of the pandemic being like a sword over their neck. In simple words people don’t want to stop travelling.

The travel industry has understood one thing that is, if they need to attract the travellers they will have to alter not just their hygiene policies but also offer attractive deals for e.g. discounted rates, complimentary stay or meals, additional services etc. The big bannered chain of hotels have also understood that change in their pricing and promotional strategies is the only best fit at this point of time in order to sustain in this competitive market. Reduction in luxurious hotels and homestays tariff rates has been a great way for them to lure tourists to experience luxury without making a hole in their pocket.

5 stars hotels that were ideally selling at 10,000/- per night are now selling at a steeply discounted rate of upto 60% on realising the lack in demand. This helps them to still manage a minimum 50% occupancy rate and expose themselves to a different target audience altogether who couldn’t otherwise afford a stay at these opulent spaces. This pricing strategy could probably compel the new target audience in all likelihood to realise the intrinsic worth of these spaces and even book them once their prices are back to normal.

Homestays too have been experiencing a shift in paradigm amidst the lockdown wherein, travellers are now comfortable staying at a property not just for 3-7 days but instead for a month or even upto 6 months as long as their provided with high speed internet and a study room for them to comfortably #WFH. Travellers are willing to spend even upto 5 lakhs per month for a 4BHK Luxury Private Pool villa in Goa. Otherwise, the same villa would cost 5 lakhs for simply a two week stay. These kinds of heavy discounts and restrictions on international travel are enticing clients to rather spend big locally. Long stays and hefty discounts are working hand in glove for both hotels as well as homestays.

The future outlook for luxury stays definitely seems to be more affordable than ever, even during prime season time, at least for the mere future. Travellers should realise the same and exploit this opportunity to the fullest.

They say travel sets you free and the greatest luxury is being free, hence we can correlate the two.

By: Varun Arora, CEO and Co-Founder of Ekostay, a homestay venture

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