News for the Hospitality Executive |
SCOTTSDALE,
DALLAS
and LONDON (September 1, 2011) – Global business travel net
revenue grew
by +12.2% in July, while global leisure travel revenue increased +8.6%,
according to data released from Pegasus
Solutions
in The
Pegasus View. The report, which
includes extra analysis of daily bookings through August 14, shows
resiliency
in both the corporate and leisure markets despite the US credit
downgrade by
the S&P on August 5. The corporate travel recovery continued in July in the face of uncertainty about the financial markets regarding the August 2 US debt default deadline. Bookings grew by +5.8% over 2010, while global average daily rates (ADR) gained momentum over June’s pace, rising by +6.0% over prior year. Mike Kistner, chief executive officer of Pegasus Solutions, said the fickleness of the financial markets failed to make a marked impact on the industry. “Unlike events that may put the personal health and safety of travelers at risk, negative and uncertain financial news did not compel travelers to cancel planned trips, whether they had already booked or not,” said Kistner. “Long-term strain could ultimately lead to a slow-down in the recovery, but in the short-term, it is events like earthquakes and hurricanes that will have the most immediate effect on bookings, though on a more regionalized level. It is good news for the travel industry that travelers failed to ‘catch’ the nervousness of investors.” Leisure travel bookings grew by +3.1% over 2010 globally, which did represent a slightly slower pace than June growth. However, leisure ADR grew by +5.0%, up from June’s +4.7% and two points higher than the year-to-date pace of +3.0%. The solid ADR counteracted slower booking growth to lead to an +8.6% gain in leisure revenue over 2010. Looking forward, leisure booking growth slowed slightly during the week of August 8, although the pace seemed to improve toward the weekend. Through the end of 2011, the leisure channel is expected to improve over 2010 in terms of bookings and ADR. GDS channel activity shows that corporate travel demand will continue to drive more bookings with steady ADR growth. The Pegasus View reporting on July 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 largest and 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.
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 |