| SCOTTSDALE,
DALLAS
and LONDON (May 26, 2011) – Business travel experienced a
temporary
slow-down in April 2011, according to data released today from Pegasus Solutions in The
Pegasus View. Following the Easter
Holiday and previously reported on world
events,
the corporate travel market eased off its March double-digit growth in
bookings
and revenue to only rise +0.3% and +7.7% respectively in April.
The dip, however, appears to be temporary as booking growth could reach double-digit increases over 2010 as early as May, with stronger growth potential in the second half of the year. Additionally, average daily rates (ADR) rose, along with length of stay (LOS) and booking lead times for the business travel segment. “Many factors around the world affected travel markets in April, which translated into a dip for corporate travel and a boon for the leisure sector,” said Mike Kistner, chief executive officer of Pegasus Solutions. “On the horizon, though, both segments look to experience increases over 2010 for the next several months. The fundamentals driving corporate travel recovery – overall economies, corporate earnings, business trips and meetings/conference travel – are improving and increasing, while pent-up consumer demand and slow room supply growth portend a better summer travel season than last year’s.” Assisted by the timing of Easter, leisure bookings grew by +9.8% over 2010 while revenue rose +13.2%. Globally, ADR increased +2.5% above 2010, faster than its year-to-date rate. This rate is expected to continue into the summer, suggesting bookings growth in 2011 will not come at the cost of hotel rates as in the prior few years. The data shows more trips will be taken in 2011 than in 2010, however LOS suggests trips will be kept short to trim costs. The April 2011 The Pegasus View is available in its entirety online and by free subscription at www.pegs.com. This month’s issue also introduces editor Julie Parodi, senior director, strategic planning and analysis for Pegasus Solutions, who has led compilation of the report for more than a year. Parodi serves as the voice of The Pegasus View, which she will be presenting this summer at the upcoming Global Business Travelers Association National Conference. Data reported in The Pegasus View comes from billions of transactions processed monthly by Pegasus Solutions, the world’s single largest global processor of hotel transactions. It is the only industry report to reflect data drawn from both GDS and ADS transactions, representing the business and leisure markets respectively for approximately 90,000 hotels worldwide.  About
Pegasus Solutions Inc. Pegasus
Solutions is the world’s leading provider of technology and services to
hotels
and travel distributors, supplying the award-winning RezView® NG
central
reservation system, electronic distribution services, advanced agency
commission processing and payment services, and hotel marketing
representation
services. Founded in 1989, Pegasus created and launched the hotel
switch, and
today its customers include approximately 90,000 properties around the
globe as
well as a majority of the world’s travel agencies. Additionally,
Pegasus’ powerful representation arm
incorporates Utell® Hotels & Resorts and Utell Connect services
that have
been chosen by more than 6,000 member hotels in more than 130
countries.
Pegasus is the hotel industry’s most experienced third-party marketing,
sales
and reservations specialist. Pegasus also powers the niche consumer Web
site www.hotelbook.com™, dedicated to promoting
independent and boutique hotels throughout the world. Headquartered in
Dallas,
Pegasus has 21 offices in 12 countries, including regional hubs in
London,
Singapore and Scottsdale, Arizona. For more information, please visit www.pegs.com or www.utell.com |