Hotel bookings defy economic gloom
Global business travel hotel bookings grew by 10.2 percent over prior year in August, up from July’s 5.8 percent increase, Pegasus Solutions reports.
Bookings for both the business and leisure markets showed continued resilience despite the US and European economic debt and credit crises that overshadowed the month.
Certain regional leisure markets did experience sensitivity to local economic pressures, however the overarching trend was solid growth, according to Mike Kistner, chief executive of Pegasus Solutions.
“While the hotel industry is strongly influenced by the economy, leisure and business travellers don’t take their marching orders from it,†said Kistner.
“We saw financial markets experience wild swings last month, but in our sector, we saw corporate and leisure travel markets not just continue to grow, but actually gain momentum, powering through the bad news of the US and European debt and credit crises.â€
Corporate travel markets saw continued rate growth in August, increasing 4.7 percent over prior year.
Leisure travel volume grew on a global level by 4.2 percent, gaining pace from July’s rate of 3.1 percent.
Average daily rate (ADR) for leisure bookings grew 3.7 percent, outpacing the 3.1 percent year-to-date growth average.
The Pegasus View reporting on August 2011 bookings is available online and by free subscription at www.pegs.com.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025