The RevPAR forecast for the total UK market has been forecast downward based on more complete data and developments in variables which influence travel to the UK. Berlin is forecast to hold RevPAR nearly in line with last year's performance, whereas Frankfurt is forecast to edge down 1.2% and Munich by 3% over the same time period according to the e-forecasting.com baseline forecast released in their July Total UK and German Monthly Hotel Forecast reports using historical data from HotStats, the hospitality intelligence provider.
"With our July Monthly Hotel Forecasts we see shifting dynamics which are impacting the forecasts for the remainder of the year," commented Maria Sogard, CEO of e-forecasting.com. "Our Monthly Hotel Forecasts provide additional insights on recession probabilities for the industry as well a foreign travel leading indicator specific to each market which helps clients better understanding these changes in the outlook, how they affect their properties, and provide them with tools to alter policy to gain ground from their competition."
July Monthly Forecast Reports were released this morning for the following markets in the UK: Birmingham, Bristol, Cardiff, Glasgow, Liverpool, London, Manchester, Newcastle, the provinces and total UK. German coverage is in Berlin, Frankfurt and Munich at this time.
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
Logos, product and company names mentioned are the property of their respective owners.