RevPAR for the London hotel market is forecast to decrease 7.4% in April 2014 from April of this year whereas the provinces is set to decrease 5.3%, according to the e-forecasting.com baseline forecast released in their inaugural London and the provinces Monthly Hotel Forecast reports using historical data from HotStats, the hospitality intelligence provider.
The launch of the Monthly Hotel Forecast (MHF) is 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.
"We are so thrilled to be working with HotStats in launching the Monthly Hotel Forecast in UK destinations," commented Maria Sogard, CEO of e-forecasting.com. "By drawing on the depth of HotStats’ intelligence, our forecasts are able to glean important insights into the world's top destinations. Month after month, our subscribers take a measure of the current pulse in the market and the ever changing predictive analytics that are expected to drive hoteliers' business in London," Mrs. Sogard continued.
In addition to the London hotel market, this month's launch of the e-forecasting.com city Monthly Hotel Forecasts includes the following UK destinations: Birmingham, Bristol, Cardiff, Glasgow, Liverpool, Manchester, and the provinces; along with a total UK Monthly Hotel Forecast.
“We are delighted to collaborate with e-forecasting for the Monthly Hotel Forecast reports by providing historical data. In the coming months, the geographic coverage will be enhanced substantially with the addition of markets in other destinations in the UK, Europe and MENA from our extensive database.” commented Tony Oliveira, Business Development Manager.
"The key to our hotel forecast reports are comprehensive proprietary predictive analytics, which drive decisions to the next level, taking the focus from what's now to what's next," added Mrs. Sogard.
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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