HOTELIERS worldwide welcomed a promising first quarter as leisure and corporate travel bookings grew over the previous year in general, according to data from Pegasus Solutions.
Rates also delivered, with Q1 figures in the business and leisure sectors climbing past 2012 levels to rise 1.7 per cent and 1.4 per cent respectively.
Leisure travel bookings grew 5.1 per cent through the end of March, helped by an early Easter holiday and despite a shorter February (TTG Asia e-Daily, April 3, 2013). Global volumes in March increased 5.9 per cent year-on-year while rates grew 0.5 per cent. Length of stay and booking lead times were either on par with or gaining on prior year worldwide, indicating a promising consumer trend towards more international and longhaul travel.
“The stabilising or improved performance evident in leisure market indicators suggests hotels should emerge from daily survival mode to actually focus on the future,” said David Millili, CEO of Pegasus Solutions.
“When volume grows with rates, it means hotels aren’t pandering to win bookings by discounting. Instead, they are implementing and maintaining solid rate strategies with an eye to the future, making sure they are both available and bookable to seize a portion of growing demand.”
Corporate travellers also booked 2.4 per cent more reservations globally in 1Q2013 year-on-year, while staying within negative 0.3 per cent of March 2012. Rates for the segment also sustained, increasing by 1.7 per cent for the quarter and still growing slightly by 0.6 per cent in March. Average length of stay and reservation lead times exhibited marginal increases overall, which have held steady year-to-date.
