The leisure and corporate hotel markets returned solid results globally for bookings and rate growth inNovember, according to data released by Pegasus Solutions. Most notably, global hotel rates outperformed both astrong October and the year-to-date pace, achieving growth of nearly +4.0% over 2010.
Global average daily rates (ADR)for November climbed higher than the year-to-date pace of +3.2% andOctober’s increase of +2.7%. On a global scale, November leisure bookings jumped +6.0%, up from October’s increase of +4.8%. Leisure performancewas especially evident in North America, where bookings rose +7.1% over prioryear and leisure ADR increased +4.8%.
“We attribute some of thismarket performance to reports of growing consumer confidence,” said MikeKistner, chief executive officer of PegasusSolutions. “However, we mainly view this as a combination of pent-upconsumer demand and a commitment to travel. The corporate hotel market returnedpositive figures, but we’re seeing the most significant gains in theleisure market, where even outside of North America amid concerns of theEuropean debt crisis, most markets saw some improvement over last month’s results.”
Global corporate bookings rose+5.4% over 2010, up from October’s growth of +4.0%, while rates increased+2.2%. Business on the books suggests more business trips for 2012, withbookings expected to outpace 2011 through February. Towards the end of thefirst quarter 2012 leading into spring convention season, there is potentialfor greater booking momentum while rates continue climbing back to pre-recessionary levels.
ThePegasus View reporting on November 2011 bookings is available onlineand by free subscription at www.pegs.com.Data reported in ThePegasus View comes from billions of transactions processed monthly byPegasus Solutions, the world’s single largest global processor of hoteltransactions. It is the only industry report to reflect data drawn from bothGDS and ADS transactions, representing the business and leisure marketsrespectively for approximately 90,000 hotels worldwide.