Leisure Hotel Rates Rise in June
Pegasus Solutions?reported that June leisure hotel rates grew 5.1 percent while booking growth was down 2 percent over the same period last year.
Booking growth was up 6.2 percent and 3.7 percent over April and May 2012. June 2012 increased by 8.5 percent over 2011, and June 2011 by 7.5 percent over 2010.
?The performance we?re seeing can be attributed to the perfect formula for hotels: lower room supply with increased leisure and business travel demand,? said David Millili, chief executive officer of Pegasus Solutions, in a prepared statement. ?The second quarter compared against prior years shows that while demand is present, hotels are also present with real distribution strategies. Taking time to understand and maneuver the world of distribution is helping hotels attract bookings across both channels at the prices they want guests to pay.?
On the corporate front, second quarter bookings rose early before dropping back to 2012 levels as the quarter progressed. April?s bookings rose 6.2 percent over 2012. By the end of June, bookings were up 0.7 percent compared to June 2012. Rates were down by just 0.7 percent over the June 2012.
The corporate segment, while remaining strong, is not expected to experience formidable gains over last year. On the leisure side, Pegasus said July and August rates may go up by more than 4 percent, with rates remaining level in September and October to those during the same period last year.