Wednesday, January 29, 2014
Travel and Tourism/Hotels and Hospitality
Mid-day market brief update for Wednesday, January 29, 2014
I was just reminded of PKF HR’s Trends in the Hotel Industry 2013 video presentation of some of this report’s basic industry statistics presented by Robert Mandelbaum, director of research information services for PKF Hospitality Research- https://www.youtube.com/watch?v=kc6e_8exWkI.
Recovery continued through the year 2012 with the occupancy rates approaching the long-run average this meaning that the number of rooms booked was nearing the numbers they were pre-economic strife in recent years when measured over a longer period of time instead of measuring only the years of latest recessionary occurrences. This is good news essentially. As often stated in these business companies and studiers of it, the occupancy rate serves in a canary in the coal mine capacity dissipating during economic hardship on national and global scales and this occupancy rate rising again when the strife has begun to leave, being similar to days when a caged canary was brought with the miners into their mine causing the bird to faint dead away or actually die when a poison gas was present in the mine warning the workers ahread of time of their conditions allowing escape and suitable problem management.
Have a truly good rest of the day from hotelxgroup!