Global Leisure Bookings Jump More Than +9% in October
Leisure Room Rates Increase by +2.9% Worldwide and +4.0% in North America
"October leisure bookings reached increases over prior year that were nearly as high as those seen this summer," said David Millili, chief executive officer of Pegasus Solutions. "And, we saw those rises not just in reservations, but also in rates and length of stay. If travel is a bellwether for consumer confidence, then October gave us something to hope for this holiday season."
Global corporate bookings also rebounded in October, growing by +5.3% over 2011. Reservations had hovered below prior year since April, dipping by as much as -7.9% in September. In North America, bookings increased just +0.8%, which was still positive growth not realized since April. Solid demand allowed corporate rates to stay just ahead of prior year by +0.3% in North America, as globally corporate rates held steady overall, inching within -1.6% of last year in October.
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' recently introduced PegasusView Market Performance business intelligence is a monthly reporting product augmenting the global data provided quarterly in The Pegasus View.