Leisure hotel rates achieved a record in May

A strong summer travel season for the leisure market is expected

The monthly Pegasus View from Pegasus Solutions displays a record growth of almost 5% in May for leisure hotels.
Leisure travel bookings are growing steadily at an average of 10% over 2010 and rates have been increasing for a whole year.
The corporate sector is also well on the way back. Bookings leapt from being practically equal to last year’s volume in April to being 15% higher than prior year for the month of May. The average daily rate growth, strongly rising through April, increased by 6.5% over 2010. Thus, revenue growth tripled over prior year in April to a 23% increase in May.
According to Mike Kistner, CEO of Pegasus Solutions, hotels are able to offer extra value by adding new services rather than sticking to traditional discounts. Hotels need to respond adequately to the rising demand as clients’ budgets remain tight and consumers are looking for the best value package.
Pegasus is the world’s largest single processor of electronic hotel transactions, and serves the ten largest U.S.-based travel agencies, eight of the top ten agencies in the United Kingdom, more than 86,000 hotel properties around the globe. The Pegasus View is available at: http://www.pegs.com/ThoughtLeadership/The%20Pegasus%20View/The-Pegasus-View.html
[pictured: Bellerophon riding Pegasus (1914)]