Study: Santorini to See Most 2018 Hotel Bookings in September

The highest demand period for reservations at hotels on Santorini will be shifted this year, according to an extensive study carried out by the data analysis department of Panadvert, an online performance marketing company that provides integrated digital advertising and marketing solutions.

According to the study, the majority of Santorini’s hotel reservations are expected in September 2018 as opposed to August, as was the case in 2017.

Further data processing also showed a significant increase of demand in hotel reservations for September and October 2018.

“Accurate forecasting is a valuable tool enabling hoteliers and travel industry professionals to appropriately manage revenue, allocate resources, and set pricing and targeting strategies while also providing insights towards identifying a destination’s marketing opportunities,” Panadvert said in an announcement.

The study’s primary objective was to predict the upcoming demand for hotel reservations on the WebHotelier booking engine for a number of tourism destinations and top markets.

Panadvert analysis: We anticipate that the highest point of demand will shift from August (as it was in 2017) to September, in 2018. As we can see, August will remain at the same levels as 2017 while we are expecting a small decrease in July and June and a significant increase in September and October. From the above we can conclude that Santorini’s hotels are fully booked in August and thus, tourists begin to book their stays in September and October. Cluster analysis has revealed that the high demand season consists of six months starting from May and ending in October. The season’s duration was determined in 2017 and will remain the same in 2018.

Santorini was selected due to the large statistical sample available to Panadvert (23,483,039 queries for 398 properties).

“The main outcomes of our analysis were the prediction of demand for hotel services in total numbers, demand seasonality, how it varies from year to year, as well as the rise of new markets/countries,” Panadvert said.

For further details, refer to the complete study here.