If current trends continue, 2014 will be a solid year for group travel, according to hotel consultancy TravelClick, which this week released data from its October 2013 TravelClick North American Hospitality Review (NAHR).
According to the report, group bookings for the next 12 months are up 7.6 percent compared to last year, while group average daily rate (ADR) remains flat (up 0.6 percent). Transient bookings and ADR similarly are up, by 6.8 percent and 4.3 percent, respectively, for the next 12 months.
“In 2013, group occupancy and ADR growth has been a disappointment,” Tim Hart, TravelClick’s executive vice president of business intelligence, said in a statement. “While it is too late to see much of a turnaround in 2013, the outlook for 2014 is improving, with group sales over the past month outpacing the same period last year by almost 50 percent.”
For the first quarter of 2014, committed group occupancy and ADR are up 10.7 percent and 3.4 percent, respectively, compared to 7.5 percent and 8.4 percent, respectively, for transient travel.
“Q1 2014 appears to be a strong quarter across all segments,” Hart continued. “Hotels that put effective distribution, pricing and revenue management strategies in place will have ample opportunity in this favorable market environment to drive positive share and ADR outcomes.”
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