Global leisure and business hotel bookings and rates continue to climb, although a return to pre-economic downturn finances is still “a ways off”, according to Pegasus Solutions.
Global corporate booking made through the global distributions systems (GDS) in October 2013 matched those of October 2012, with rates rising 0.5 percent over the same period last year.
Global corporate rates have increased by 0.6 percent year-to-date, while worldwide leisure bookings rose 1.7 percent year-to-date in 2013.
“Bookings have been recovered for a couple of years now, but we continue to struggle to return rates to 2007 levels,” Pegasus Solutions chief executive David Millili said.
“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.”
Leisure rates are still off by 15.7 percent when compared to October 2007 levels, despite occupancy volumes being a full 25.1 percent higher in October 2013 than pre-economic downturn figures.
Rates for the corporate market are forecast to grow through December 2013, while bookings through online channels will incur a 3 percent rise in rates during the first quarter 2014.