Hotel rates stay strong for summer travel
June 28, 2012 | Hotel Marketing
According to the latest data from Pegasus, hotel rates paid for vacations in May 2012 exceeded those paid in May 2011 across all global regions by an average of +5.6%. Leisure booking volumes closed the gap from nearly -8% in March to just -4.6% in May.
Corporate bookings were down -5.7% compared to last year, but rates held strong growing by +4.0% globally and +7.6% in North America. Leisure booking windows grew as corporate ones shrunk, indicating an expansion in consumer confidence tempered by the corporate sectors desire for smaller meetings rather than conventions and conferences.
"A certain consumer will always act exclusively on last-minute deals," said David Millili, chief executive officer of Pegasus Solutions. "But we're seeing leisure travelers relish the chance to plan for their vacations. It appears they are finding better values with greater selection and availability by booking further in advance."
Download the full report at Pegasus (4.6 MB)
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