Booking numbers for hotels in the corporate market fell for June compared to last year while hotel rates rose according to Pegasus Solutions.

The Pegasus View revealed corporate bookings globally dropped by 10.6 percent with North America experiencing the biggest decrease of 13.9 percent.

Pegasus Solutions chief executive David Millili said corporations and consumers are thinking hard about travel.

Mr Millili said the decrease was due to corporations wanting value in the face-to-face business supported by corporate travel, but are more cautious on considering what trips to take, when to take them and whom to send.

“They’re committed to traveling, but they’re taking the time to rethink and reshuffle travel dates, destinations, trip length, activities and, of course, hotels.”

Despite the downturn in volume of bookings, hotel rates delivered an impressive performance in June, rising globally with an increase of nearly three percent for June 2012.

The Pegasus View reports from billions of transactions processed by Pegasus Solutions from both GDS and ADS transactions, representing the business market for nearly 100,000 hotels worldwide.