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All the indications that Pegasus has analyzed over the past couple of months indicate that the market has bottomed out and bookings are returning to hotels. This was confirmed by strong performance in December in both the GDS and ADS channels.
Importantly, 2009 ended with more net bookings made than in December 2008 and December 2007 from both GDS and ADS channels. Net revenue remains depressed though as ADR continues to lag, particularly through the ADS channel.
The North American market continues to grow strongly, but other markets appear to be picking up as well.
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