Pegasus Solutions Predicts Leisure Market to Stay Strong in 2014

According to Pegasus Solutions, the leisure market as a whole performed better in November 2013 than in November 2012, and is expected to climb further in 2014.

“Many hotels look to the holiday season as a windfall that will make up for any slow periods from the rest of the year,” said David Millili, chief executive officer of Pegasus Solutions. “November opened the 2013 season with a solid start, including leisure gains globally, and relatively solid corporate performance. What’s significant is that the increases we saw came on top of increases we saw in 2012, which were increases over 2011, and so on.”

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.