Global hotel bookings dropped year-over-year in January, according to Pegasus Solutions, which tracks reservations made through global distribution systems. In comparison to very robust January 2011 numbers, corporate bookings dropped by 1.6 percent and leisure bookings were down by 5 percent, according to data released in last week's "The Pegasus View" report. Room rates, however, continued to grow: Business rates rose by 3.8 percent year-over-year, and leisure rates were up by 7 percent. "While the data suggests a lull in bookings, rising rates in January were supported by strong demand," said Mike Kistner, CEO of Pegasus Solutions. Global corporate bookings appear to be hovering near 2011 levels through April, potentially gaining momentum in May, according to the report. Increased groups and meetings activity is driving rate growth as well, the report adds.