The group segment is up 1.0% in room nights committed (contracted). New group business added over the last month (pace) has declined over the last month, down -14.4% over the comparable period last year. Transient room nights booked are up 5.3% compared to the same time last year. Average daily rate (ADR) is growing slightly more than occupancy, up 3.7% based on reservations currently on the books for 2013. For the third quarter of 2013 (July – September), overall committed occupancy is up 1.0% in the top 25 markets. Committed occupancy for the group segments is down -2.5% and the transient segment is up 3.4% compared to a year ago. Average daily rate for the third quarter is up 3.3% over the same time last year. Business segment ADR, which includes weekday transient negotiated and retail segments, is up 3.2%. Leisure segment ADR, which includes transient discount, qualified and wholesale segments, is up 4.5%. The 2014 budget season is upon us. Effective revenue planning requires you to anticipate future market conditions and to forecast your own performance within those market conditions, based on the revenue strategies you will put in place. A good starting point for this planning is gaining a proper understanding of current and evolving market conditions and of your own performance so far in 2013. The industry convention is to focus on overall occupancy, average daily rate and RevPAR performance as the general benchmark for performance. However, overall market and hotel performance is in fact a function of the performance of each individual customer segment, including not only group and transient guests, but also each of the transient business and leisure customer segments that comprise overall transient demand. Download the full report at TravelClick