Risk Of U.S. Hotel Recession Retreats | hotelnewsnow.com
This morning economic research firm e-forecasting.com in conjunction with Smith Travel Research announced that following a decline of 4.7 percent in November, HIP edged up 0.1 percent in December. HIP, the Hotel Industry's Pulse Index, is a composite indicator that gauges business activity in the U.S. hotel industry in real-time. This increase brought the index to a reading of 91.6. The index was set to equal 100 in 2000. Chad Church, industry research manager at STR added, “December’s index growth is good news, and we’re being cautiously optimistic. After the 4-year low the index registered in November, any relief is welcomed.”
