News for the Hospitality Executive |
DALLAS (May 21, 2013) –
Global corporate bookings set a new growth record of +8.8% over prior
year in April, according to Pegasus Solutions, the single largest
processor of electronic hotel transactions. The jump is the highest
year-over-year increase in reservation volume through the global
distribution systems (GDSs) since August 2011.
Previously, January had the strongest growth this year, climbing +7.9% over 2012. April’s solid performance over last year also established a year-to-date pace of +4.0% in bookings growth for the channel, which is dominated by bookings made for business travel. Rates stayed ahead of prior year by +0.1%. “When we last reported this kind of year-over-year increase in 2011, we were quoted as saying the hotel industry is strongly influenced by the economy, but does not take marching orders from it’,” said David Millili, chief executive officer of Pegasus Solutions. “At that time, we were dealing with the US and European economic debt and credit crises. Today, we’re hearing one positive economic indicator after another, which is definitely inciting business and leisure travelers to book. And, we expect them to book for the foreseeable future.” The global leisure market also returned an impressive performance in April, surging ahead of April 2012 bookings by +6.2%. Even with a boost from the Easter holiday last April, similar to the boost in March of this year, April 2013 set a solid year-to-date growth pace of +5.4%. Rates for the channel, reflective of online bookings made by consumers, lifted +1.2% over 2012. Looking forward, global corporate booking volumes are expected to stay close to prior year through summer, potentially making gains in June. Rates for the channel will likely climb at a modest margin over 2012 through summer. Leisure reservations evidence increased travel through summer with potential for double-digit gains in July and August, as rates for the channel are expected to stay close to or above prior year through August. Data reported by Pegasus Solutions comes from billions of transactions processed monthly for nearly 100,000 hotels, facilitating more than $16 billion a year. The Pegasus View, produced quarterly, is the only industry report to reflect data drawn from both GDS and ADS transactions, representing the business and leisure markets respectively. Pegasus’ PegasusView Market Performance business intelligence is a monthly reporting product augmenting the global data provided quarterly in The Pegasus View. About Pegasus Solutions Pegasus Solutions is the single largest processor of electronic hotel transactions, delivering advanced and affordable connectivity and distribution solutions to nearly 100,000 hotels worldwide. Pegasus connects hotels to crucial sources of business, facilitating almost $16 billion for its clients annually. In additional to foundational global distribution system (GDS) access and online connectivity, Pegasus delivers online, social marketing and booking solutions through its Open Hospitality division, and powerful reservation tools to convert and capture bookings. As a trusted partner in generating guest room demand and sales, Pegasus also offers hotels actionable business intelligence through its PegasusView Market Performance reports to help hotels understand and respond to changing market conditions. Pegasus has 18 offices in 10 countries, including regional hubs in Dallas, Frankfurt, London, Madrid, New York, Sao Paulo, Singapore and Scottsdale. For more information, visit www.pegs.com or www.openhospitality.com. |
Contact: Ariel Herr 214-234-4286 [email protected] |