by Lodging Staff, Lodging Magazine
NEW YORK—The pace of new bookings is down this summer, with the business segment experiencing a -4.0 percent decline over the past 30 days. However, average daily rates (ADR) are slightly up 2.0 percent over the same time last year based on reservations that are currently on the books, according to new data from TravelClick’s July 2016 North American Hospitality Review (NAHR).
“As new July bookings have fallen by -3.6 percent compared to the same time last year, it’s becoming abundantly clear that there are stronger headwinds ahead for hoteliers in 2016,” said John Hach, TravelClick’s senior industry analyst. “However, year-over-year growth is still occurring, stemming from committed reservations that were generated throughout the first and second quarters.”