Wotif Bucking The Trend
Wotif, the online accommodation company, is bucking the trend of profit loss during this deepening financial downturn.
Wotif’s share price rose 4c to $3.15 yesterday (February 5th, 2009).
Mr Cooke, Chief executive of the company said:
In the last six months, we found that people are still taking breaks but they are focused on getting the best deals online.
The majority of travelers are taking domestic holidays in Australia and New Zealand.
About 80 per cent of travelers are booking accommodation within a three-hour range away. They have also cut back on overseas travel, especially to the US and Europe, because of the falling Australian dollar against the US dollar and European currency.
The company’s decision to extend the booking window from 28 days to three months had generated greater interest from bargain hunters.
We received about 3.5 million hits on our site every month. The fact that travelers can now book three months ahead has been a big plus.
We have also seen an increase in the number of corporate bookings as many small and medium-sized companies hit by the financial downturn are looking to trim costs. Even high end business travelers and government department officers are turning to online hotel bookings because of cheaper rates.
With another strong example of people spending money online during unstable economic times, have you considered what you are doing to focus your marketing and advertising campaigns to capture the online shopper?
article source: here
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