According to a recent TravelClick report, the North American hotel sector started the first month of 2014 with moderate increases in room rates and bookings. The transient segment (individual business and leisure travelers) was the group leading the way in occupancy growth.
“After strong group sales pace early in the fourth quarter of last year, it is a bit disappointing that group bookings have lost some steam heading into the New Year,” said Tim Hart, executive vice president of business intelligence at TravelClick. “That being said, the group segment is still ahead of where it was this time last year, and strong transient demand and ADR growth continues to drive a positive overall outlook for the first part of 2014.”
Here are highlights of some of the key numbers and statistics presented in the report:
-Transient bookings are up 5.3 percent year-over-year and the Average Daily Rate (ADR) for this segment is up 5.2 percent.
-When examining the 12-month outlook more closely (January 2014 – December 2014), it shows overall committed occupancy has increased by 3.3% compared to the same time last year. This is also an increase of one percent from TravelClick’s July 2013 survey measuring the same information.
-The 12-month outlook also shows that ADR are up 3.9 percent based on reservations currently on the books.
The read the TravelClick report in its entirety, click here.