Business activity for US hoteliers rose to a reading of 122.5 in June according to today's release of the Hotel Industry's Pulse (HIP) indicator. e-forecasting.com's hotel predictive analytic, which "...gauges monthly overall business conditions for hotels earlier than any industry indicator, climbed by 0.1% in June after an increase of 0.1% in May...", said Evangelos Simos, editor-in-chief of the Digest series and professor at the University of New Hampshire.
Two of the three demand and supply indicators of current business activity that make up Hotel Industry's Pulse (HIP) Index had a positive contribution to its change in June: Hotel Jobs; Hotel Capacity; the current business activity indicator which had a negative or zero contribution to HIP's change in June was Total Hotel Revenues (which include non-room revenues, like food & beverage services).
HIP's six-month growth rate, which has historically confirmed the turning points in US hotel business activity, posted a positive rate of 1.7% in June, following a positive rate of 1.7% in May. This compares to a long-term annual growth rate of 2%, the same as the 40-year average annual growth rate of the industry's gross domestic product.
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