Leisure Room Rates Increase by +2.9% Worldwide and +4.0% in North America
DALLAS (November 28, 2012) – Leisure bookings in October grew +9.2% over 2011 globally, as North America also saw a rise of +9.1%, according to data released today by Pegasus Solutions. Despite the catastrophic impact of Hurricane Sandy on October hotel performance in New York City and Atlantic City, leisure rates still rose by +2.9% worldwide and +4.0% in North America.
Entering the holiday season, consumers seized off-peak values for holiday travel by booking in October, avoiding the premiums of late November and early December. Despite a still sluggish global economy, resilience in the U.S. market and global numbers for October suggest a continued commitment to travel.
“October leisure bookings reached increases over prior year that were nearly as high as those seen this summer,” said David Millili, chief executive officer of Pegasus Solutions. “And, we saw those rises not just in reservations, but also in rates and length of stay. If travel is a bellwether for consumer confidence, then October gave us something to hope for this holiday season.”
Global corporate bookings also rebounded in October, growing by +5.3% over 2011. Reservations had hovered below prior year since April, dipping by as much as -7.9% in September. In North America, bookings increased just +0.8%, which was still positive growth not realized since April. Solid demand allowed corporate rates to stay just ahead of prior year by +0.3% in North America, as globally corporate rates held steady overall, inching within -1.6% of last year in October.
Data reported by Pegasus Solutions comes from billions of transactions processed monthly for nearly 100,000 hotels, facilitating more than $16 billion a year. The Pegasus View, produced quarterly, is the only industry report to reflect data drawn from both GDS and ADS transactions, representing the business and leisure markets respectively. Pegasus’ recently introduced PegasusView Market Performancebusiness intelligence is a monthly reporting product augmenting the global data provided quarterly in The Pegasus View.
Pegasus Solutions is the single largest processor of electronic hotel transactions, delivering advanced and affordable connectivity and distribution solutions to nearly 100,000 hotels worldwide. Pegasus connects hotels to crucial sources of business, facilitating almost $16 billion for its clients annually. In additional to foundational global distribution system (GDS) access and online connectivity, Pegasus delivers online, social marketing and booking solutions through its Open Hospitality division, industry-preferred global commission processing, and powerful reservation tools to convert and capture bookings. As a trusted partner in generating guest room demand and sales, Pegasus also offers hotels actionable business intelligence through its Pegasus View Market Performance reports to help hotels understand and respond to changing market conditions.
Pegasus has 18 offices in 10 countries, including regional hubs in Dallas, Frankfurt, London, Madrid, New York, Sao Paulo, Singapore and Scottsdale. For more information, visit www.pegs.com or www.openhospitality.com.