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by Michael J. Shapiro | November 23, 2011

 Hotel bookings through global distribution systems grew by 4.0 percent year-over-year for the month of October, and the average daily rate was up by 2.9 percent, according to a report by travel technology provider Pegasus Solutions. Those increases represented a slowdown of growth for the industry but still indicate “a solid foundation of corporate travel demand,” according to the October edition of The Pegasus View. The report noted that the weak global economy has caused companies to more closely scrutinize travel expenses, resulting in a lower rate of growth compared to last year's surge.