Business activity in UK hotels decreased in November to a reading of 145.5 according to the latest reading of the UK Hotel Industry's Pulse (UK-HIP) indicator. e−forecasting.com's UK-HIP, a composite indicator that gauges monthly overall business conditions in the UK hotel industry decreased 1.1% in November. The index is set to equal 100 in 2005.
UK-HIP's six-month growth rate, which has historically confirmed the turning points in UK hotel business activity, had a rate of 9.3% in November, falling from a rate of 14.9% held in October.
The probability of the hotel industry entering into recession, which is detected in real-time from UK-HIL, a leading indicator for United Kingdom hotels, registered 22.2% in November, which is 1.2 percentage points higher than in October. When this recession-warning gauge passes the threshold probability of 50%, the UK hotel industry enters a recession.
"UK-HIP continues to slow as well as the UK-HIL which signals the future direction of the UK hotel industry. These two indicators are major components of our monthly hotel forecast reports which we have for all major UK markets," commented Maria Sogard, CEO of eforecasting.com.
UK HIP and UK HIL are two of the major proprietary components to the Monthly Hotel Forecast reports which cover key markets in the UK and Germany. These baseline forecasts are developed by e-forecasting.com using historical data from HotStats, the hospitality intelligence provider.
e-forecasting.com, an international economic research and consulting firm, offers forecasts of the economic environment using proprietary, real-time economic indicators to produce customized solutions for what’s next. e−forecasting.com collaborates with domestic and international clients and publications to provide timely economic content for use as predictive intelligence to strengthen its clients’ competitive advantage. For more information visit www.e-forecasting.com.
HotStats, a leading firm in the hotels, tourism and leisure industries, provides a unique profit and loss benchmarking service to hoteliers from the UK, European and MENA markets, with more than 100 performance metric comparisons covering 70 areas of hotel revenue, cost, profit and statistics. For more information visit www.hotstats.com.
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