Pegasus Solutions Reports February 2013 Hotel Bookings and Rates Rivaled or Outperformed 2012 Without Leap Year Bump
Despite Shorter Month, Year-to-Date Bookings Grew over Prior Year through Pre-downturn
"Hoteliers have become numbed to words like 'downturn' and 'recovery' from firsthand experience and a feeling of helplessness in the face of global economic events," said David Millili, chief executive officer of Pegasus Solutions. "But February's performance measures had far more increases than decreases across the previous six years, in both channels, and all regions. That tells me as hoteliers we can't hide behind the restrictions the downturn and recovery imposed on us in terms of diminished demand or limited budgets. This is the time for us to apply the wisdom gained since summer 2008 and focus on the future."
Global corporate bookings for February nearly equaled that of last year's longer month, falling short of 2012 by just -0.3%. Rates held strong and gained additional momentum, rising by +2.5%, and improving on both January's pace of +2.1% and the year-to-date pace of +2.3%. For North America, bookings were down -1.5% from 2012 as rates increased by +2.1%. However, outside North America, bookings outperformed February 2012 by +1.2%, as rates rose to a new growth high of +2.2%, an increase over prior year not matched since September 2011.
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' PegasusView Market Performance business intelligence is a monthly reporting product augmenting the global data provided quarterly in The Pegasus View.
About Pegasus Solutions
Pegasus is a leading global technology provider that empowers independent hotels, hotel groups and chains to grow their businesses in a digital world. The company provides a comprehensive offering of cloud-based Software-as-a-Service (SaaS) systems and services that are designed to help hoteliers connect with their guests, increase profitability and maximize productivity. The Pegasus offering combines its highly scalable and reliable SaaS platform with representation and demand services, uniquely enabling hoteliers to sell to guests worldwide across all touch points, including their websites, call centers and front desks, and through all channels, including direct to consumer, travel agents (GDS), online travel agents, tour operators and metasearch partners.