News for the Hospitality Executive |
NEW
YORK, DALLAS, SCOTTSDALE and LONDON (November 21, 2011) –
Leisure travel bookings continued to
climb against challenging odds, increasing +4.7% globally in October
according
to data released today by Pegasus
Solutions in the award-winning The
Pegasus View. North America outpaced
all other major regions’ leisure bookings with a jump of +5.8% over
prior year.
Regions outside of North America that showed greater strain in bookings included Europe, the Middle East/North Africa and isolated areas in Asia-Pacific. However, these locations still maintained increased revenue streams at the broad regional level over both 2010 and 2009. Rates were upheld for the leisure channel overall, rising +2.5% over 2010 globally, and +4.3% in North America. “The truth is we’re in a weak global economy, which has impacted the pace of the travel recovery,” said Mike Kistner, chief executive officer of Pegasus Solutions. “As the pace has slowed from the gains made in 2010 and the first part of 2011, leisure demand has still climbed against the odds. In fact, the reality of tighter capital markets and resulting restrained supply growth is ultimately beneficial for occupancy and rates.” Corporate travel has been labeled the ‘muscle’ behind the travel recovery as October global distribution system (GDS) bookings grew by +4.0%, with North America sustaining an increase of +3.3% over prior year. Corporate travel rates also showed sturdy growth, as average daily rates (ADR) increased almost +3% over prior year globally. North America realized an increase of +4.0%, almost reaching the year-to-date growth pace of +4.6%. Forward-looking data for the leisure market shows steady bookings and rate growth through February, with a potential slowing in rate growth compared to prior year in February. In the GDS channel, forward-looking data shows business travel firmly planted in corporate calendars through the rest of 2011 and into 2012. Solid growth is expected into December, with potentially slower booking growth in January and February to be offset by a potential uptick in rates that will provide stable revenue growth. The Pegasus View reporting on October 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, www.utell.com or www.openhospitality.com. |
Media Contacts: +44 (0)20 8490 4877 [email protected] Ariel Herr |