Global hotel rates post record rise

Pegasus Solutions Data (PSD) reports that the global hotel market enjoyed record increases over 2010 in the average daily rates (ADR) paid by consumers during December 2011. PSD released its data in The Pegasus View, revealing that leisure hotel rates grew by 8.3, while the corporate market realized more moderate rate gains of 3.2% compared to 2010. In North America, leisure rates climbed a near-record 6.3%, second only to June’s 6.5% increase, as markets outside North America returned an impressive 7.5% jump above December 2010. Corporate rates in North America beat the global increase with +5.4%, while the rise outside of North America was +1.7%. Pegasus Solutions’ CEO Mike Kistner commented: “Global bookings were solid in December, though they actually decreased 4.6% from the exceptional gains seen in December 2010, a month when booking volumes exceeded 2009, 2008, and 2007.” He added: “Rates, however, increased at significant levels globally and regionally for both channels.” Right now, reservations on the books point to leisure bookings easing in January with rates maintaining, and possible gains for both measures expected over 2011 from February through April. Corporate bookings are also expected to grow during the same period as rates stay ahead of prior year levels from January to the first of second quarter. For more, go to http://www.pegs.com .