Valeriia Kostynets

Department of Economics and Services,

Faculty of Economics and Business,

Kyiv National University of Technology and Design, Ukraine

valeriya1989@i.ua 

ORCID 0000-0002-4222-7620

Pent-up demand’s realization in the hospitality sector in the context of COVID-19

Iuliia Kostynets

Acting Head of Department of Marketing and Communicative Design, 

Kyiv National University of Technology and Design, Ukraine

yulia.kostinets@gmail.com 

ORCID 0000-0001-6427-675X

Oleksandra Olshanska

Dean of Faculty of Economics and Business,

Kyiv National University of Technology and Design, Ukraine

deanfebknutd@gmail.com

ORCID 0000-0003-1535-7742 

Abstract. The article is dedicated to modelling the realization of pent-up demand based on the relationship between the incoming traffic of online booking platforms in the hospitality sector and the volume of tourist arrivals in the context of COVID-19 spread. The authors conducted a study on the current trends in the hospitality sector in the aspect of the industry's functioning under COVID-19. The authors identified the development prospects for the hospitality sector as a component of the tourist services market in the context of easing restrictions in the countries of tourist arrivals. The article established the specifics of the pent-up demand realization based on the results of the international flights renewal and the functioning of the hospitality industry under COVID-19. The authors analyzed the consumer requests on popular online booking services, Airbnb and Booking.com, during the period of partial easing of the restrictions on the movement of tourists, starting from July 2020. Based on the conducted regression analysis, the density of communication between the incoming traffic of the online booking platforms in the hospitality sector and the volume of tourist arrivals in the context of the COVID-19 spread was established. Based on the regression modelling, realization of demand in the hospitality sector was forecasted.

Received: January, 2020

1st Revision: October, 2020

Accepted: March, 2021

DOI: 10.14254/2071-8330.2021/14-1/6

JEL Classification: M21, R22, L83, G01, O50

Keywords: pent-up demand, hospitality industry, travel services market, COVID-19