United Kingdom
United States
Asia Pacific
Hotel business takes trouble in its stride
The significant impact of world events on regional markets in Asia-Pacific, the Middle East and North Africa failed to dampen near-record growth on a worldwide scale in hotel bookings and revenue for both the business and leisure sectors.
Pegasus Solutions said corporate travel reservations grew in March 2011 over 2010 by +30%, while revenue climbed +42.5%, aided by a +6.9% increase in average daily rate (ADR).
Following a growth dip in February, March global leisure bookings achieved the second highest growth pace in the last year, climbing +10.8%, while revenue jumped +15.5%.
“Global travel as a whole continued its steady climb despite major world events that affected select regions,†said Mike Kistner, CEO of Pegasus Solutions.
“Last year, March was bolstered by the Easter holiday that fell in April this year, which makes the leisure climb last month that much more impressive.â€
Forward-looking data for bookings made through the global distribution systems shows no slowdown for business travel.
The data displays reservations will increase by more than +20% through the second quarter as ADR, length of stay (LOS) and booking lead times also rise.
The March 2011 The Pegasus View is available in its entirety online and by free subscription at www.pegs.com.
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