Travel Webcast

Pegasus’ numbers reveal Sandy’s impact

Pegasus Solution reports that data for the third quarter of 2012 was “generally positive for business and leisure travel hotel bookings and rates.” but its data also provides a good look at the impact of Hurricane Sandy on New York City and Atlantic City. Globally, business bookings that rallied during July and August, coming within 3% of prior year, returned to pre-summer levels at 7.8% lower than 2011. Rates, however, were more stable, easing to just 1.5% lower than last year, and realizing 0.4% growth year-to-date. Leisure travel growth slowed at the end of the quarter, but still rose by 2.6% over the prior year during an off-peak travel period. The average daily rates (ADR) paid globally also grew by 2.2%. Pegasus Solutions CEO, David Millili commented: “We were prepared to issue a positive statement about global travel performance for the third quarter, however, the tragedy of Hurricane Sandy in the states I both live and work in changed that narrative. A mix of cancellations and drops in reservations reminds us not just of the impact this is having on businesses in the areas affected, but also of so many individuals who have been displaced.” In New York City, reservations fell by 61% from prior year for arrivals Oct. 30 after the storm made landfall. The next day’s bookings were also 50% below last year, where they remained depressed by at least 25% through Nov. 3. Cancellations increased by triple-digit percentages over 2011 for stays Oct. 28 through Nov. 1. Atlantic City, with a higher mix of leisure visitors, saw reservations plummet by almost 70% from last year, with decreases as high as 60% through Nov. 3. The dramatic cancellations for this area reached as high as 2,800% over last year on Nov. 3, registering in the triple digits on several other days. Substantial decreases eased after Nov. 6, with evidence of sporadic boosts and declines through November. Go to http://www.pegs.com for more.

Posted in Destinations, News

 

 

Categories