July Showed Increase in Corporate and Leisure Hotel Rates
DALLAS—Hotel rates paid in July for business and leisure travel increased over last year both globally and in North America, according to data released by Pegasus Solutions. Global and North America leisure booking volumes also closed in on last year’s levels, resulting in the smallest booking declines yet for 2012 against 2011, save February’s inflated figures due to leap year. READER COMMENTS
Rates maintained steady growth as hotel average daily rates (ADR) for business travel in July grew +3.0 percent globally, and increased a more significant +5.8 percent in North America. Leisure rates remained ahead of prior year as vacationers paid +2.3 percent more than last year globally, and nearly +3.0 percent in North America.
“Activity in some industries can slow during the summer as travelers go on holiday. These active vacationers helped rate savvy hoteliers keep rates firm, even boosting bookings for the month of July,” said David Millili, chief executive officer of Pegasus Solutions, in an announcement. “Booking volume gaps we’ve been seeing all year against 2011 narrowed to less than -4.0 percent in July for both global corporate and leisure travel. That’s a marked improvement for both sectors from June, when leisure bookings slowed to -5.3 percent less than last year and corporate bookings dropped by ten percent.”
Global and North American corporate bookings rebounded from June’s fall, reflecting a slighter -3.4 percent decrease globally against July 2011, and a -6.4 percent decrease in North America versus the double-digit level decreases seen in June 2012. July global leisure bookings came within -3.6 percent of last year, while the leisure booking gap in North America fell to -4.2 percent. Both were closer to 2011 leisure booking volumes than any month year-to-date, with the exception of February, which was bolstered by leap year’s extra day.
Corporate bookings will potentially slow in August, then pick-up momentum through the autumn conference season. Leisure data thus far suggests another slow patch in September, with progress against prior year expected again mid-autumn.
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