The volume of global corporate hotel reservations in January jumped 8 percent year over year,

and the average rate paid for those reservations increased 2.1 percent, according to Pegasus Solutions. Corporate bookings and average rate in North America rose 5.4 percent and 2.4 percent, respectively. Volume increased more outside North America (11.2 percent)—with growth "fueled by Asia"—while average rate grew less (1 percent). "Companies were anxious to get to business in January," according to CEO David Millili. Pegasus added that "global corporate bookings are expected to continue strong growth over 2012 into May, though at more moderate margins for most months. These bookings show rates will deliver marginal growth through March, potentially softening in April and May against prior year."