Hotel bookings achieved near-record growth in March, according to data released by Pegasus Solutions.
The travel technology company found corporate bookings were up 30% year on year, translating to a 42.5% increase in revenue. Leisure bookings also saw gains with bookings up 10.8% revenues growing 15.5%.
“We’re pleased to report that global travel as a whole continued its steady climb despite major world events that affected select regions,” said Mike Kistner, chief executive officer of Pegasus Solutions.
“Last year, March was bolstered by the Easter holiday that fell in April this year, which makes the leisure climb last month that much more impressive. We expect the growth in leisure travel to continue, along with more impressive increases in business travel, through second quarter, translating to good news and higher revenues for hotels worldwide.”
Pegasus Solutions’ forward-looking data shows no signs of a business travel slowdown. In fact, the company is predicting an increase of more than 20% through the second quarter.
The current booking numbers for leisure travel indicate a further increase in hotel revenues of about 10%.