Corporate bookings smash growth record in April

GLOBAL corporate bookings for April posted the strongest growth since August 2011, spiking 8.8 per cent as compared to the same period last year.

According to Pegasus Solutions, which measured the number of reservations made through the GDS, April also registered year-to-date growth of four per cent while rates were up 0.1 per cent over last year.

“When we last reported this kind of year-over-year increase in 2011, we were quoted as saying ‘the hotel industry is strongly influenced by the economy, but does not take marching orders from it’,” said David Millili, CEO, Pegasus Solutions.

“At that time, we were dealing with the US and European economic debt and credit crises. Today, we’re hearing one positive economic indicator after another, which is definitely inciting business and leisure travellers to book. And, we expect them to book for the foreseeable future.”

On the leisure front, bookings for April rose 6.2 per cent year-on-year and 5.4 per cent for year-to-date growth. Rates grew 1.2 per cent over 2012.

Pegasus Solutions predicted that global corporate bookings would mirror 2012’s figures through summer and make gains in June. Rates would grow modestly through the season compared to 2012.

With leisure bookings pointing to higher levels of travel during the summer, the company expects potential double-digit growth in July and August. Rates will likely stay close to or above last year’s through August.

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