A closer look at three main reasons why forecasting is crucial for the success of a hotel and why accuacy is as important as achievement.
US hotel industry remains stagnant
The probability of the hotel industry being in recession has been in a range between 40% to 46% in the last seven months indicating that the industry is in a major slowdown near the borders of the recession.
Slower growth forecast for U.S. hotels
The U.S. hotel industry is projected to experience continued performance growth through 2017, albeit at a slower rate, according to STR and Tourism Economics’ most recent forecast
Strong revenue growth predicted for Asia-Pacific hotel sector in 2016
Sixty-five percent of attendees at a summit of hotel professionals forecast six percent or more revenue growth, but they acknowledge oversupply and new competition as ongoing concerns.
US hotel industry knocking on recession’s door: Hotel Industry’s Pulse indicator
e−forecasting.com’s HIP – a predictive analytic which gauges monthly overall business conditions for hotels – stalled, posting a nil growth rate in April after an increase of 0.1% in March.
