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 1 July 2010
PKF-Hospitality Research Releases Hotel Horizons® Forecast Accuracy Assessment
Lessons Can Be Applied To 2011 Budgeting Process Hotel industry forecasting is not for the faint of heart. During the recession that began in earnest in 2008, the magnitude of the economic declines deviated so far from long run norms that it was virtually impossible for econometric models to predict what ultimately occurred in the hotel industry. Despite the challenge, the lodging forecasts still provided meaningful guidance for owners and investors trying to operate through the historic downturn. Because of the severity of the decline and its length, lodging forecasts had to be updated based on the ever changing economic outlook.
These are some of the conclusions of a whitepaper recently published by PKF Hospitality Research (PKF-HR) whose purpose was to quantify the accuracy of their proprietary Hotel Horizons® reports.
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Hotel Horizons® Forecast Accuracy Assessment Consistent with its stated mission of full disclosure, and to provide its clients and the industry at-large with periodic assessments of the accuracy of their forecasts, PKF Hospitality Research (PKF...

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hospitality research, econometric models, faint of heart, hotel industry, economic outlook, downturn, whitepaper, recession, declines, norms, horizons, severity, magnitude, conclusions, decline, guidance, accuracy, pkf, investors
Mark Woodworth Executive Managing Director Phone: (404) 842-1150, ext 222 Email: mark.woodworth@pkfc.com
Colliers PKF Hospitality Research www.pkfc.com 3475 Lenox Road | Suite 720
USA
- Atlanta, GA 30326 Phone: (404) 842-1150 Fax: (404) 842-1165 Email: robert.mandelbaum@pkfc.com
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