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Group rates rise 3.1% for next 12 months
Transient travel is running strong for the next 12 months, but group business has slowed and likely will remain flat through 2014, says a May survey released last week by TravelClick North American Hospitality Review (NAHR).
Transient business travel bookings are up a whopping 7% for next year, while meeting bookings are up only 1.7%.
Looking at the next 12 months (May 2013 to April 2014), the number of booked rooms is up 3.3% over this time last year, and average daily rate (ADR) is up 3.6%, the survey found.
But the bulk of that is from the transient side, up 5.8%, with ADR up 3.9%.
The transient leisure segment is up 4.6% in occupancy and 4.8% in ADR over last year.
The transient business segment also is strong, with bookings up 7.0% percent, but more moderate ADR growth of 2.9%.
Group bookings are up just 1.7%, though, with an ADR gain of 3.1%.
The May NAHR looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays that are booked by April 28, 2013 for the period of May 2013 to April 2014.
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