Alternative data on domestic tourism
I have a daily email from Google on Cairns related news and this popped in:
Australia’s Domestic Sector Driving Travel Rebound; Gold Coast And Cairns Propelling Recovery
OTA Insight’s newest product, Market insight, is a predictive market intelligence solution. Market Insight data is forecasting patterns of high travel. Insight’s newest product, Market Insight, is a predictive market intelligence solution. Market Insight data is forecasting patterns of demand for the Gold Coast through winter, with demand increasing 13% week over week, from May 9 (see figure 1). On some days over the winter months, hotels are nearing maximum occupancy. Throughout the school holiday period of July 1 – 10, up to 59% of hotels are unavailable, as is 89% of alternative accommodation.
Over the next 90 days, Cairns is also experiencing a similar pattern of consistently high demand (see figure 2). For example, on June 12, 86% of alternative accommodation options are unavailable, as are 56% of hotels – including some hotels which are completely sold out. On July 4, up to 34% of all hotels are unavailable, while 83% of alternative accommodation is unavailable.
How much credibility should we give to proprietary data sources? This is consistent with anecdotal narratives but they do have something to sell. Melbourne could blow it all apart this week.
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