WINTER STORMS BOOST HOTELIERS’ JANUARY RESULTS
Business activity in US hotels rose in January according to the latest Hotel Industry’s Pulse (HIP) indicator from e−forecasting.com. The index climbed 0.7 percent to a reading of 114.4 in January after an increase of 0.8 percent in December. The composite indicator gauges monthly overall business conditions in the US hotel industry; the index is set to equal 100 in 2005.
The six-month growth rate posted a positive rate of 6.7 percent in January, following a positive rate of 6.1 percent in December. This compares to a long-term annual growth rate of 3 percent, the same as the 40-year average annual growth rate of the industry’s gross domestic product.
“Higher occupancy rates without increase in jobs are indicative of an unexpected business activity due to weather in January,” said Maria Sogard, CEO of eforecasting.com. “The winter storms have slowed the overall economy but were beneficial to hoteliers.”
For details visit e-forecasting.com.