Year-over-year GDS hotel booking growth slowed globally in July to 5.8 percent as the average daily rate increase remained steady at 6 percent,

according to Pegasus Solutions. Reservation volume growth was smaller in North America, up 3 percent, but rates jumped 7 percent, marking the largest monthly increase in the region since the recession began. Pegasus noted that corporate booking growth in August may have slowed, reflecting recent instability in financial markets, but said it expects rates to continue rising at a consistent pace. "Economic growth in certain regions of the world has slowed, and there have been renewed debt concerns in Europe and the United States," according to Pegasus. "While these have not caused a knee-jerk retraction in corporate travel, they may cause companies to assess how these matters might impact their financial situations and thus affect travel growth."