RevPAR for the Provincial UK hotel market is forecast to rise 1.8% in 2014 whereas markets such as Cardiff, Glasgow and Newcastle are expected to fare much better with RevPAR increases averaging near 5% over the same time period according to the e-forecasting.com baseline forecast released in their Monthly Hotel Forecast reports using historical data from HotStats, the hospitality intelligence provider.
"With our February Monthly Hotel Forecasts for Provincial UK, Newcastle and other key UK markets, we see stronger demand in many of the Provincial markets. While some markets are expecting a robust 2014, the three German markets we cover are a bit shakier, with Munich forecast to have double digit declines in RevPAR this year" commented Maria Sogard, CEO of e-forecasting.com.
In addition to the Cardiff, Glasgow, Provincial UK, Newcastle and Munich hotel market, e-forecasting.com's Monthly Hotel Forecasts reports were released this month for the following markets in the UK: Birmingham, Bristol, Liverpool, London, Manchester, and total UK. In Germany, market coverage includes Berlin, Frankfurt and Munich.
The Monthly Hotel Forecasts (MHF) are the result of a predictive intelligence collaboration between e-forecasting.com and HotStats to provide in real time monthly hotel insights with a competitive advantage for UK, European and MENA top destinations. The HotStats hotel database, which is immense and industry's most comprehensive, coupled with e-forecasting.com's over 10 years expertise in forecasting hotel markets around the world with the industry's best accuracy record, brings to the market an unparalleled decision-making tool for hoteliers and executives in hotel-related businesses.
In addition to reporting on forecasts of the hotel metrics of occupancy, ADR and RevPAR, the Monthly Hotel Forecasts also provide in depth analysis of the economic environment and how it relates to the forecast for each hotel market. This additional analysis includes country-wide hotel industry pulse (HIP) and hotel industry leading indicator (HIL) monthly readings, probabilities of an upcoming recession in the hotel industry, the country's monthly GDP, a foreign travel leading indicator specific to each market, labor market conditions, inflation, exchange and interest rates, energy prices and special events. Each Monthly Hotel Forecast includes predictions for 24 months, 8 quarters and three years out for each of the key hotel performance metrics. It is available on an annual subscription basis.
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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