Skift Take
Year-over-year growth is OK, but what hotels really want is to return the the glory days before the world economy began its meltdown in 2008. Both business and leisure numbers are closer to pre-crash levels than they've ever been.
Average hotel daily rates paid for corporate travel in August were within 1% of those paid pre-recession in August 2007 and 2008 globally, according to data released today by Pegasus Solutions.
The corporate market continued to rebound last month, narrowing a drop of -10% from last year for bookings in June to just -0.7%. Rates were down just -0.6% from August 2008, and up +0.3% compared to August 2007. For the leisure market, rates sustained an ascent over
