Global Corporate Bookings Set New Growth Record in April
Global corporate bookings set a new growth record of +8.8% over prior year in April, according to Pegasus Solutions, the single largest processor of electronic hotel transactions. The jump is the highest year-over-year increase in reservation volume through the global distribution systems (GDSs) since August 2011.
Previously, January had the strongest growth this year, climbing +7.9% over 2012. April’s solid performance over last year also established a year-to-date pace of +4.0% in bookings growth for the channel, which is dominated by bookings made for business travel. Rates stayed ahead of prior year by +0.1%.
The global leisure market also returned an impressive performance in April, surging ahead of April 2012 bookings by +6.2%. Even with a boost from the Easter holiday last April, similar to the boost in March of this year, April 2013 set a solid year-to-date growth pace of +5.4%. Rates for the channel, reflective of online bookings made by consumers, lifted +1.2% over 2012.
Looking forward, global corporate booking volumes are expected to stay close to prior year through summer, potentially making gains in June. Rates for the channel will likely climb at a modest margin over 2012 through summer. Leisure reservations evidence increased travel through summer with potential for double-digit gains in July and August, as rates for the channel are expected to stay close to or above prior year through August.
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.
Previously, January had the strongest growth this year, climbing +7.9% over 2012. April’s solid performance over last year also established a year-to-date pace of +4.0% in bookings growth for the channel, which is dominated by bookings made for business travel. Rates stayed ahead of prior year by +0.1%.
The global leisure market also returned an impressive performance in April, surging ahead of April 2012 bookings by +6.2%. Even with a boost from the Easter holiday last April, similar to the boost in March of this year, April 2013 set a solid year-to-date growth pace of +5.4%. Rates for the channel, reflective of online bookings made by consumers, lifted +1.2% over 2012.
Looking forward, global corporate booking volumes are expected to stay close to prior year through summer, potentially making gains in June. Rates for the channel will likely climb at a modest margin over 2012 through summer. Leisure reservations evidence increased travel through summer with potential for double-digit gains in July and August, as rates for the channel are expected to stay close to or above prior year through August.
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.