News for the Hospitality Executive |
DALLAS
(December
21, 2011) – The leisure and corporate hotel markets returned solid
results
globally for bookings and rate growth in November, according to data
released
today by Pegasus
Solutions
in the award-winning The
Pegasus View. Most notably, global
hotel rates outperformed both a strong October and the year-to-date
pace,
achieving growth of nearly +4.0% over 2010.
Global average daily rates (ADR) for November climbed higher than the year-to-date pace of +3.2% and October’s increase of +2.7%. On a global scale, November leisure bookings jumped +6.0%, up from October’s increase of +4.8%. Leisure performance was especially evident in North America, where bookings rose +7.1% over prior year and leisure ADR increased +4.8%. “We attribute some of this market performance to reports of growing consumer confidence,” said Mike Kistner, chief executive officer of Pegasus Solutions. “However, we mainly view this as a combination of pent-up consumer demand and a commitment to travel. The corporate hotel market returned positive figures, but we’re seeing the most significant gains in the leisure market, where even outside of North America amid concerns of the European debt crisis, most markets saw some improvement over last month’s results.” Global corporate bookings rose +5.4% over 2010, up from October’s growth of +4.0%, while rates increased +2.2%. Business on the books suggests more business trips for 2012, with bookings expected to outpace 2011 through February. Towards the end of the first quarter 2012 leading into spring convention season, there is potential for greater booking momentum while rates continue climbing back to pre-recessionary levels. The Pegasus View reporting on November 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. Open Hospitality,a Pegasus Solutions company, delivers a full array of strategic online marketing solutions and accommodation booking options. Its award-winning marketing solutions focus exclusively on hotels and hospitality verticals, helping independent hotels, groups and chains raise online visibility, build market share and increase online reservations. Headquartered in Dallas, Pegasus has 22 offices in 12 countries, including regional hubs in London, New York, Singapore and Scottsdale, Arizona. For more information, please visit www.pegs.com, http://www.utell.com or www.openhospitality.com. |
Media Contacts: +44 (0)20 8490 4877 [email protected] Ariel Herr |