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Cost of no-show reservations halve in 2022
The cost of no-shows in the hospitality sector dropped by $5.63b
The likelihood of no-shows in the hospitality sector dropped to 6%, almost half of 11% last year, according to a report by CGA by NielsenIQ and Zonal.
Consumers making reservations and honouring them has also increased by 15 percentage points, reducing the cost of no-shows to the hospitality sector to £12.6bn – saving the industry $5.63b a year.
Customers not showing up for bookings are costing the industry an estimated $19.82b a year in lost revenue, with one in seven people not turning up to their reservations and not informing the venue.
