The global hotel market proved resilient in
March 2011, according to data released by Pegasus Solutions.
Despite world events that had a significant impact on regional
markets in Asia Pacific, the Middle East and North Africa, Pegasus
is reporting near-record growth on a worldwide scale in bookings
and revenue for both the business and leisure sectors.
Corporate travel reservations grew in March 2011 over 2010 by
+30%, while revenue climbed +42.5%, aided by a +6.9% increase in average daily rate (ADR). Following a growth dip in February,
March global leisure bookings achieved the second highest growth
pace in the last year, climbing +10.8%, while revenue jumped
+15.5%.
“We’re pleased to report that global travel as a
whole continued its steady climb despite major world events that
affected select regions,” said Mike Kistner, chief executive
officer of Pegasus Solutions. “Last year, March was bolstered by
the Easter holiday that fell in April this year, which makes the
leisure climb last month that much more impressive. We expect the
growth in leisure travel to continue, along with more impressive
increases in business travel, through second quarter, translating
to good news and higher revenues for hotels worldwide.”
Forward-looking data for bookings made through the global
distribution systems (GDS) shows no slow-down for business travel.
The data displays reservations will increase by more than +20%
through the second quarter as ADR, length of stay (LOS) and
booking lead times also rise. Business already booked through the
mostly leisure alternative distribution systems (ADS) points to
solid leisure travel growth through the spring and summer seasons
as more vacations are booked this year than last. Leisure hotel
reservations will continue to increase by approximately +10%, with
a slight slowing of ADR in spring that will rally in summer.
Data reported in
The Pegasus View comes from billions of transactions processed
monthly by Pegasus Solutions, one of the world’s single largest global
processors of hotel transactions. Data is drawn from both GDS and ADS transactions,
representing the business and leisure markets respectively for
approximately 90,000 hotels worldwide.
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March 2011
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