Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
Read more now
Read more now
Hotel rates surge in markets hosting major 2014 global sports events.
Wednesday, 29th January 2014
Source : Pegasus Solutions
 

Hoteliers in host markets have seen booking increases of as much as 200% and rates doubling ahead of the US Super Bowl, Winter Olympics and the FIFA World Cup.

Pegasus Solutions conducted a comparison of net reservations made in 2014 and 2013 for the same January 20 cut-off for same day-of-week arrivals in each region. The world’s largest processor of electronic hotel transactions reports affected hoteliers have smartly managed inventory ahead of the expected surges in demand.

"We reviewed bookings made through online sites for destinations that would see leisure travel for the Super Bowl in the US, Winter Olympics in Russia, and FIFA World Cup in Brazil,” said David Millili, chief executive officer of Pegasus Solutions. “Some booking increases were registered in destinations like Sao Paulo, which are not traditionally considered major leisure hubs. Other booking growth was not as evident because many hoteliers strategically limited room inventory allocated to third party sites to drive more bookings through the brand site. Hotels that were prepared with a website designed to sell to a global audience will have benefitted greatly from this approach.”

New York City will host most of those attending the National Football League’s Super Bowl on Sunday, February 2. Rates for arrivals on Wednesday, January 29 have climbed by +41% over 2013. This rises to +77% the following day, reaching a high of +97% that Friday, and +83% on Saturday, February 1. Booked rates for the day of the event remain elevated by +45%, but will begin to taper as Seattle Seahawks and Denver Broncos fans return home.

Rates in Russia during the Winter Olympics, which run February 7 to 23, were less consistently inflated. To overcome the potentially prohibitive cost of attending that includes international travel and event admission, hoteliers have worked to keep rates from being a deterrent, with many also offering inventory in travel packages. Sporadic spikes in rates compared to same day last year did occur on select dates, peaking mid-way through the Games, including the 6th (+66%), 7th (+41%), 11th (+56%), 12th (+154%), 17th (+97%), 23rd (+83%) and 24th (+58%).

FIFA’s World Cup from June 12 through July 13 at various venues in Brazil, has boosted rates in already popular leisure destination Rio de Janeiro. Sao Paulo, however, has seen reservations jump by more than 200% from what would normally be booked this far in advance for stays during this time period. Rates have been comparable to prior year, which may be due to the five-month booking lead time. One day, July 8, shows an uptick in rates equal to double what would be expected otherwise.

Data reported by Pegasus Solutions comes from billions of transactions processed monthly for nearly 100,000 hotel clients, facilitating more than $16 billion a year. The Pegasus View, produced quarterly, is the only industry report to reflect data drawn from both GDS and ADS transactions, representing the business and leisure markets respectively. Pegasus’ PegasusView Market Performance business intelligence is a monthly reporting product augmenting the global data provided quarterly in The Pegasus View.

About Pegasus Solutions

Pegasus Solutions is the single largest processor of electronic hotel transactions, delivering advanced and affordable connectivity and distribution solutions to nearly 100,000 hotels worldwide. Pegasus connects hotels to crucial sources of business, facilitating almost $16 billion for its clients annually. In addition to foundational global distribution system (GDS) access and online connectivity, Pegasus delivers online, social marketing and booking solutions through its Open Hospitality division, and powerful reservation tools to convert and capture bookings. Pegasus has 18 offices in 10 countries, including regional hubs in New York, Dallas, Scottsdale, Frankfurt, London, Madrid, Sao Paulo, Tokyo and Singapore.

~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
Advertisment  
 Related News  (Click title to read article)
Global Meeting Trends.
Bangkok hotels under pressure; 'Lowering rates not a solution'.
Top thoughts for 2014 - Global hospitality insights.
Exclusive Interview: Marketing Asia - Las Vegas Sands Corporation.
 Latest News  (Click title to read article)
TripAdvisor buys tours and activities website Viator
Wednesday, 30th July 2014

Japan aims to get medical tourists from China
Wednesday, 30th July 2014

European chain hotels market review
Wednesday, 30th July 2014

Boarding passes for Android watches are being made available
Wednesday, 30th July 2014

Millennial travelers enjoy amenities such as spa, dry cleaning and pet-friendliness
Wednesday, 30th July 2014
 Latest Articles  (Click title to read article)
Can Traditional Hotels Compete with Airbnb?
Wednesday, 30th July 2014

Helping Hotel Guests Through Travel Apps
Wednesday, 30th July 2014

Mid-Year Review: The Rising Tide of Mobile Bookings - How Hoteliers Can Stay Afloat
Tuesday, 29th July 2014

The 'Drink Up' Campaign Made a Measurable Difference
Tuesday, 29th July 2014

More Workers Taking Temporary Path To Being Hired Full-Time
Tuesday, 29th July 2014
 Most Read News  (Click title to read article)
Thailand Situation Updated - June 27: Thailand tourism gets stronger than ever
NH Hotel Group disposes Amsterdam asset
The Chinese Luxury Traveler - How destinations are decided and bookings made
News from around the Asia Pacific region, June 10
Alila and Commune create new lifestyle hotel management company

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy