London Hotel Revenue per Booking Jumps Nearly +400% for Royal Wedding Weekend
Rate and Length of Stay Increases Translate to Greater Revenue per Booking for London Hotels, According to Data Released by Pegasus Solutions
SCOTTSDALE, DALLAS and LONDON (April 28, 2011) – London hotel revenue per booking will increase nearly +400% for the royal wedding weekend according to a special edition of The Pegasus View to be released by Pegasus Solutions on the eve of the nuptials. The report will address the impact of the royal wedding on London hotels' average daily rate (ADR), length of stay (LOS) and revenue per booking, pulling information from bookings made through travel agents and by travelers themselves.
"We're seeing a pre- and after-party effect for the wedding that has the makings of a windfall for London hotels," said Mike Kistner, chief executive officer of Pegasus Solutions. "Domestic and international travelers either came early or are staying on through the days and week after the wedding to continue the experience. The resulting combination of higher rates and longer stays means total revenue for each stay will increase by triple-digit percentages over last year the weekends before, during and after the wedding takes place."
Combined global distribution system (GDS) and alternative distribution system (ADS) bookings for each weekend in April demonstrated escalating double-digit percentage ADR increases. Additionally, bookings made through April 21 for future arrivals showed ADR increasing nearly +90% the day of the wedding, peaking on Saturday, April 30 with a jump of +134%.
Most inbound travel to London for the event is domestic, with travelers from the US comprising the second highest source of bookings. Pegasus is reporting France and Germany as the next highest sources of international travelers for the events in London.
The Special Edition of The Pegasus View will be available in its entirety online and by free subscription at www.pegs.com on April 28. 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 – Proud honoree of the 2010 InformationWeek 500, CIO 100 and InfoWorld Top 100
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 nearly 6,000 member hotels in more than 130 countries. Pegasus is the hotel industry's most experienced third-party marketing, sales and reservations specialist. Pegasus also powers the niche consumer Web site www.hotelbook.com™, dedicated to promoting independent and boutique hotels throughout the world. Headquartered in Dallas, Pegasus has 21 offices in 12 countries, including regional hubs in London, Singapore and Scottsdale, Arizona. For more information, please visit www.pegs.com or www.utell.com.