Julie Sickel, Business Travel News
Read the story at Business Travel News.
"Inconsistent" is how TravelClick sums up the reservation pace at North American hotels in its October review. New bookings for the month overall are down 2.2 percent, and new group bookings are down 8.5 percent from the same time last year. Conversely, average daily rate is growing in 20 of the 25 major North American markets and overall ADR up 0.6 percent for the fourth quarter. "October is now the fifth consecutive month with a weakening new-reservation pace," said TravelClick senior industry analyst John Hach. "There are indications that this emerging trend will continue well into the upcoming year."
Business transient bookings for the next 12 months are down 1.9 percent from this time last year, and ADR is flat at 0.6 percent. Group booking commitments are up 2.7 percent and ADR is up 1.5 percent.
TravelClick's October North American Hospitality Review looks at group sales commitments and individual reservations in the 25 major North American markets for hotel stays booked by Oct. 1, 2016, for October 2016 to September 2017.