GLobal hotel market is holding up, says Pegasus
The global hotel market proved resilient in March, according to data from technology services provider Pegasus Solutions.
Despite the earthquake in Japan and political unrest in the Middle East and North Africa, figures from Pegasus show near-record growth on a worldwide scale in bookings and revenue for the business and leisure sectors.
Corporate travel reservations grew by 30% in March 2011, compared with March 2010, 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 past 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 the second quarter, translating to good news and higher revenues for hotels worldwide."
Hotel data for March 2011 from Pegasus Solutions is published in The Pegasus View, which is available in its entirety online and by free subscription at www.pegs.com.
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By Janet Harmer
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