Pegasus Solutions Reports Global Leisure Hotel Rates Stayed Ahead of Prior Year for Every Month of 2013
Leisure Reservations Also Grew Through Fourth Quarter to End Year Ahead by +4.3%
Global leisure bookings began fourth quarter under 2013 levels by -0.8% in October, but rose through November (+1.9%) to reach +4.3% in December thanks to holiday demand. The solid vacation demand helped hoteliers increase rates throughout the year, including fourth quarter. Rates began the quarter ahead of 2012 by +2.6% in October, reaching +3.3% in November and finishing at +4.8% in December.
Year-over-year global corporate bookings paused in November, but returned to finish the year with a +7.4% bookings jump. Corporate booking growth with steadily improved rates was driven by increases in both transient and group business, including meetings. Rates paid for corporate bookings stayed slightly ahead of 2012 in fourth quarter, moving from a gain of +2.7% in October, then steadying to a margin of +1.7% in both November and December.
Data reported in The Pegasus View by Pegasus Solutions comes from billions of transactions processed monthly by the company, which is the single largest processor of electronic hotel transactions. 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.