Booking abandonment in the travel industry is higher than in other e-commerce sectors, because consumers are more likely to do extensive comparison shopping. Just 2% of hospitality site visitors complete a reservation, 67.6% of hotel and lodging bookings are abandoned. A few Prestige Hotel brands, among them One & Only, Jumeirah and Millenium Hotels, are taking action against abandonment by retargeting the partially interested consumers.
Millenium Hotels sends travelers who don’t complete booking personalized emails in their local language, along with a proposed itinerary and property review score. Jumeirah takes a quantity-based approach, sending multiple emails with prices in the consumer’s local language. One & Only creates a sense of urgency by sending emails with time-sensitive offers.
Follow-up marketing emails have been an effective strategy in other categories such as Watches & Jewelry, and are translating well to Hotels. Our Digital IQ Index: Prestige Hotels finds open rates on remarketing emails to be four times that of standard marketing emails, and properties with an eight-star review (of ten stars) were able to increase their revenue by 110% using these tactics.