The average daily hotel rate booked via global distribution systems in October increased 2.9 percent globally,

the smallest year-over-year growth since February 2010, according to Pegasus Solutions. Total hotel bookings grew 4 percent, the smallest rate of growth since April 2011. Pegasus noted that slower demand growth stems from tougher comparisons against a demand surge that began in April 2010 and "added scrutiny" from corporations amid a weak global economy and sovereign debt issues. The firm, however, said corporate travel is "solid" and projected continued hotel booking and rate growth into the first quarter of next year. The average rate for hotel bookings in North America GDS channels increased 4 percent compared with October 2010, while North America bookings were up 3.3 percent. Outside of North America, bookings were up 4.6 percent and rates increased by 2.1 percent.