Hospitality Net - Hospitality Rate Growth Remains Steady Despite Booking Declines Across North America
Transient reservation pace showing the sharpest decline throughout 2019
NEW YORK - TravelClick, an Amadeus company, today released new data from the Company's February 2019 North American Hospitality Review (NAHR). According to this data, average daily rates (ADR) are up 2.7 percent across all travel segments during the first quarter of the year, led by group travel, up 3.8 percent. Similarly, the transient business and transient leisure travel segments are also up 2.1 percent and 2.2 percent, respectively. However, bookings have taken a dip this quarter, down -4.5 percent overall. Revenue per available room (RevPAR) is down, as well, except for group travel, which is slightly up 0.5 percent. Transient reservations are slowing.
Despite ongoing efforts to generate RevPAR growth through average daily rates increases, sharpening declines in advance reservation pace have created a negative RevPAR environment this quarter, the first in ten years," said John Hach, TravelClick's Senior Industry Analyst. "Since the beginning of this year, forward-looking booking pace continues to weaken, especially within the transient reservation segment in many North American markets. This reinforces the need for hoteliers to continue their marketing to maximize bookings."
Read more at Hospitality Net.