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Global hotel business gains momentum
Both business and leisure travel hotel average daily room rates (ADR) increased in August over 2009 for all major regions of the world, according to The Pegasus View from Pegasus Solutions.
The monthly report, drawn from billions of Pegasus transactions processed in August for approximately 90,000 hotel customers, also showed future bookings for both sectors returning average double-digit increases through Q1 2011.
In the midst of the corporate rate-negotiating season, The Pegasus View also is reporting August business bookings, those made through the global distribution systems (GDS), had the highest increases globally over 2009 for all three key reservations metrics.
The channel’s reservation volumes jumped +27.9% while ADR increased +7.4%, helping drive revenue up +42.9% over 2009.
These figures were also accompanied by slight increases in GDS average length of stay and booking lead times, a key indicator of market confidence.
“Business travel is returning amidst the ongoing debate about whether the global economic recovery is losing steam,†said Mike Kistner, CEO of Pegasus Solutions.
“What we’re seeing is a rise in corporate travel demand being driven by corporations’ urgency to pursue sales and new business opportunities now more than ever.â€
The leisure market, dominated by bookings made through alternative distribution systems, is also realising revenue boosts through increases in ADR.
While booking volumes hover around +10% over prior year, a lift of +3% in ADR in August drove revenue to +13.7% over 2009, showing a more favourable balance between supply and demand.
The August 2010 The Pegasus View is available online and by free subscription at www.pegs.com.
Ian Jarrett
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