Leisure Rates Predicted to Grow Through Holidays by Approximately +4%
The leisure market as a whole performed better than 2012 in November, and is expected to climb into 2014, according to Pegasus Solutions. The world’s largest processor of electronic hotel transactions reports rates paid for leisure bookings held firm across all global regions and are expected to climb by approximately 4% through the holidays.
Consumers made +1.9% more leisure bookings in November than last year at an average of +3.3% higher rates globally. All regions except Europe experienced single- and double-digit growth, as rates held within one percent of prior year. In North America, rates rose nearly +5% with the Thanksgiving holiday.
Corporate reservations made through the global distribution systems in November fell short of prior year’s volume by -1.5% globally. However, the bookings were made at rates +1.7% higher than last year overall. While volumes are expected to hold steady or rise slightly into the first quarter, rates will continue growing, even topping 2013 levels at the first of the year.
Data reported by Pegasus Solutions comes from billions of transactions processed monthly for nearly 100,000 hotel clients, 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.
Consumers made +1.9% more leisure bookings in November than last year at an average of +3.3% higher rates globally. All regions except Europe experienced single- and double-digit growth, as rates held within one percent of prior year. In North America, rates rose nearly +5% with the Thanksgiving holiday.
Corporate reservations made through the global distribution systems in November fell short of prior year’s volume by -1.5% globally. However, the bookings were made at rates +1.7% higher than last year overall. While volumes are expected to hold steady or rise slightly into the first quarter, rates will continue growing, even topping 2013 levels at the first of the year.
Data reported by Pegasus Solutions comes from billions of transactions processed monthly for nearly 100,000 hotel clients, 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.