Rate and Length of Stay Increases Translate to Greater Revenue per Booking for London Hotels,
According to Data Released by Pegasus Solutions
SCOTTSDALE, DALLAS and LONDON (April 28, 2011) – London hotel revenue per booking will increase nearly +400% for the royal wedding weekend according to a special edition of The Pegasus View to be released by Pegasus Solutions on the eve of the nuptials. The report will address the impact of the royal wedding on London hotels’ average daily rate (ADR), length of stay (LOS) and revenue per booking, pulling information from bookings made through travel agents and by travelers themselves.
Forward-looking data shows net average revenue per booking over prior year rising as high as +383.7% on April 30, +215.1% on the preceding weekend, and +210.9% for the post-wedding weekend. Citing both the build-up to the royal wedding and the Easter Holiday, Pegasus is also reporting rate increases of +134% over 2010 for the weekend of the nuptials. Length of stay shows triple-digit percentage increases over prior year in the two days after the ceremony, with increases of +71.4% the weekend before and +90.2% the weekend after.
“We’re seeing a pre- and after-party effect for the wedding that has the makings of a windfall for London hotels,” said Mike Kistner, chief executive officer of Pegasus Solutions. “Domestic and international travelers either came early or are staying on through the days and week after the wedding to continue the experience. The resulting combination of higher rates and longer stays means total revenue for each stay will increase by triple-digit percentages over last year the weekends before, during and after the wedding takes place.”
Combined global distribution system (GDS) and alternative distribution system (ADS) bookings for each weekend in April demonstrated escalating double-digit percentage ADR increases. Additionally, bookings made through April 21 for future arrivals showed ADR increasing nearly +90% the day of the wedding, peaking on Saturday, April 30 with a jump of +134%.
Most inbound travel to London for the event is domestic, with travelers from the US comprising the second highest source of bookings. Pegasus is reporting France and Germany as the next highest sources of international travelers for the events in London.
The Special Edition of The Pegasus View will be available in its entirety online and by free subscription at www.pegs.com on April 28. Data reported in The Pegasus View comes from billions of transactions processed monthly by Pegasus Solutions, the world’s single largest global processor of hotel transactions. It is the only industry report to reflect data drawn from both GDS and ADS transactions, representing the business and leisure markets respectively for approximately 90,000 hotels worldwide.
