Business activity for US hoteliers rose to a reading of 120.8 in July 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 July after an increase of 0.1% in June...", 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 July: Hotel Jobs; Total Hotel Revenues (which include non-room revenues, like food & beverage services); The current business activity indicator which had a negative or zero contribution to HIP's change in July was Hotel Capacity.
HIP's six-month growth rate, which has historically confirmed the turning points in US hotel business activity, posted a positive rate of 0.8% in July, following a positive rate of 0.9% in June. 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.
"In the last twelve months - July 2017 to July 2018 - overall economic activity, measured by e−forecasting.com's monthly US GDP - rose by 2.9%. Over the same period, economic activity in US Hotels, measured by HIP, increased by 1%." Evangelos added.
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