Worldpay reveals OTA prices drop by 7% in August
London — Worldpay, a global leader in payments, is predicting a bumper August for travel bookings as bargain-hungry travellers look to snap up last-minute summer deals.
An analysis of consumer spending patterns found that August is the busiest month for online travel agents (OTAs) in the U.S., with bookings a third (33 percent) higher than average for the year. Worldpay’s data revealed that web sales peak during the first week of the month, when the number of bookings is 18 percent higher than the last week of July.
The figures suggest that many of us are waiting until the very last minute before booking our summer getaways. And with the average holiday 7 percent cheaper in August compared to the previous month, the data indicates that it pays to wait: meaning that last-minute deals on travel and accommodation can add up to significant savings for those savvy travelers willing to be more spontaneous.
Commenting on the data, Casey Bullock, General Manager for North America, Global eCom at Worldpay said: “As the summer holiday season sets in, millions of holidaymakers will be looking to find themselves a bargain before school starts again in September. Early data from this year’s Independence Day holiday are pointing towards a record summer period for U.S. travel bookings, but our analysis suggests it could pay to wait until the first week of August to book hotels or accommodation, when the prices are considerably lower.”
Worldpay’s analysis also found that bookings through OTAs are increasing by 4 percent year-on-year, exceeding total hotel website bookings in the U.S. for the first time in 2016.
Bullock added: “Thanks to their ease and convenience, OTAs are quickly becoming the most popular way to book holidays. Savvy travellers love to shop around, research the best deals and book from a travel website that is convenient and easy to use. Offering a slick payment process helps OTAs to create a seamless travel experience to meet the demands of the modern consumer.”
Worldpay recently launched a new report on how travel companies can create a seamless travel experience, find out more here.
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