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Global Corporate Bookings Surge in July

  • Published by Vedat
Global corporate bookings grew +5.5% over 2012’s level in July, according to Pegasus Solutions, the world’s largest processor of electronic hotel transactions.

The promising uptick in business travel was accompanied by substantial leisure demand that paled in comparison to strong gains achieved last year.

The mid-season growth spurt in business reservations came after the corporate channel leveled out at prior year volumes at the end of the second quarter. Rates paid through the global distribution systems (GDS) also pushed past second quarter levels that had ebbed slightly in June. By month-end, average daily rates (ADR) for corporate bookings surpassed prior year by +0.3%, setting a year-to-date growth pace of +0.7% over 2012.

Globally, the leisure channel came shy of 2012 levels by -3.0%. However, last year’s levels were +10.4% over 2011, which suggests July 2013 still enjoyed a strong and steady holiday volume. ADR increased by +4.9% over prior year, exceeding the year-to-date pace of +2.5%, and nearly repeating June’s record +5.1% growth. Ultimately, the channel will conclude summer with consumers having driven more revenue to hotels overall than last year. September will bring less reservation growth before the channel rallies one more time in October to nearly +7% beyond last year’s levels.

Data reported by Pegasus Solutions comes from billions of transactions processed monthly for nearly 100,000 hotel clients, 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.
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