Published on Tuesday, May 3, 2011
It is expected that the royal wedding weekend will have seen London hotel revenue per booking increase nearly fourfold, according to a special report by Pegasus Solutions.
Data shows net average revenue per booking over last year rising as high as 383.7% on April 30, 215.1% on the preceding weekend, and 210.9% for the post-wedding weekend.
Pegasus put the increase down to both the royal wedding and the Easter holidays.
“We’re seeing a pre- and after-party effect for the wedding that has the makings of a windfall for London hotels,” said Mike Kistner, chief executive officer.
“Domestic and international travellers either came early or are staying on through the days and week after the wedding to continue the experience.
“The resulting combination of higher rates and longer stays means total revenue for each stay will increase by triple-digit percentages over last year the weekends before, during and after the wedding takes place.”
According to the report, most inbound travel to London for the event was domestic, with travellers from the US comprising the second highest source of bookings.
France and Germany were the next highest sources of international visitors.
Data in the report, called The Pegasus View, comes from billions of transactions processed monthly by Pegasus Solutions.
By Bev Fearis
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.