News for the Hospitality Executive |
DALLAS,
SCOTTSDALE and LONDON (September 27,
2011) – Global business travel hotel
bookings grew by +10.2% over prior year in August, up from July’s +5.8%
increase, as reported by Pegasus
Solutions
in the award-winning The
Pegasus View for August 2011, released
today. Bookings for both the business and leisure markets showed
continued
resiliency despite the US and European economic debt and credit crises
that
overshadowed the month.
Corporate travel markets also enjoyed continued rate growth in August, increasing +4.7% over prior year. Leisure travel volume grew on a global level by +4.2%, gaining pace from July’s rate of +3.1%. Average daily rate (ADR) for leisure bookings grew +3.7%, outpacing the +3.1% year-to-date growth average. Certain regional leisure markets did experience sensitivity to local economic pressures, however the overarching trend was solid growth, according to Mike Kistner, chief executive officer of Pegasus Solutions. “While the hotel industry is strongly influenced by the economy, leisure and business travelers don’t take their marching orders from it,” said Kistner. “We saw financial markets experience wild swings last month, but in our sector, we saw corporate and leisure travel markets not just continue to grow, but actually gain momentum, powering through the bad news of the US and European debt and credit crises.” Forward-looking bookings data, which is based on actual business on the books, shows corporate travel continuing to recover at the same or greater pace, with potential for significant growth in November. This is seen as a positive sign for the upcoming meetings and conventions season that is likely helping drive the expected ongoing rate increase for the corporate market. Leisure market forward-looking data, based on bookings made through online channels, will progress overall with growth rising for the November and December holiday season. Consumers are still mindful of budget, making compromises on distance, destination and length of stay, which presents an opportunity for hotels to conduct regional/local campaigns to attract more of these savvy bargain-hunters. The Pegasus View reporting on August 2011 bookings is available online and by free subscription at www.pegs.com. 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 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. It also powers the niche consumer website
www.hotelbook.com™, dedicated to promoting independent and
boutique hotels throughout the world. The company’s widely followed
monthly
data report The Pegasus View
has been awarded a 2011 Stevie Award, and
is recognized as the only hospitality report to monitor both actual
business
and leisure bookings. Pegasus has 21 offices in 12 countries, including
Dallas,
London, Singapore and Scottsdale, Arizona. For more information, please
visit www.pegs.com or www.utell.com.
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Media Contacts: +44 (0)20 8490 4877 [email protected] Ariel Herr |