Certainly, recovery in some areas of the globe has been set back by recent events caused by political or natural forces, as analyzed in The Pegasus View Special Edition earlier this month. However, the business sector’s continuous and quite consistent year-over-year improvement is testament to the steady gains being made in corporate markets worldwide. With demand building, even those markets most depressed by the recession are slowly yet surely rebounding and proving able to lure meetings and conference business back to their doorstep. Additional substantiation of a broadening recovery of business travel is the expansion of length of stay (LOS) and booking lead times despite regional event-driven fluctuations. Global average LOS in March expanded from 2.18 nights in March of last year to 2.24 nights in March 2011, increasing by +2.7%. March’s overall average booking lead time also improved, edging up to 18.59 days from 18.50 days in March last year. Longer trips booked further in advance are indicative of an increase in conference and meetings travel. Get the full report at Pegasus (PDF 4.7 MB)