Global business and leisure hotel bookings remained at the same level as last year’s October this year.
Business hotel rates were up 0.5% year-on-year and 0.6% year-to-date.
In the leisure sector bookings were 1.3% less than last year but 1.7% up year-to-date. Rates are 2.3% higher.
“Five years ago, our industry had just been hit with the effects of the economic downturn,” said David Millili, CEO of Pegasus Solutions.
“Hotels across every region and segment experienced a dip in occupancy and rates. Bookings have been recovered for a couple of years now, but we continue to struggle to return rates to 2007 levels. For the corporate channel, October rates actually set a year-to-date pace of +1.1% over October 2007, though they were still off that month’s performance by -3.5%. Every bit of growth we see in those rates brings us closer to being fully ‘recovered’, which is still a ways off for the leisure market,” he added.
More stable bookings are expected up to the end of the year.