Driving hotel revenue through alternate payment methods

The days of one-size-fits-all payment methods are disappearing. Flexible hotel payment options offer guests adaptable and diverse ways to secure their accommodations

While traditional credit cards remain popular, alternative payment methods such as buy now, pay later (45%), digital wallets (42%) and mobile payments (34%) are gaining traction. Hotels need to offer a variety of payment options to accommodate all guests.

Key takeaways

• Booking decisions now depend not only on location or amenities, but also on payment options. Flexibility is key, with 80% of consumers prioritizing free cancellation policies;
• The trend towards mobile bookings is clear, with 40% preferring to book via mobile platforms. Hotels can differentiate themselves by offering group payment splitting, which is important to 37% of respondents;
• Payment options also influence the choice between direct and OTA bookings. While 65% of travelers over the age of 45 prefer direct bookings, only 40% of travelers under the age of 45 prefer OTAs. Expanding payment options can help hotels attract the younger demographic.

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