STR Global launches Hotel Market Forecast
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STR Global, the world leading hotel benchmarking firm, has announced the launch of the Hotel Market Forecast.
Aimed at helping hoteliers forecast market conditions in an fast-changing economic environment, Hotel Market Forecast will be updated with projections each month, based upon the most recent available economic data and STR Global’s historic market data. The advanced model considers about 300 economic indicators, including GDP, oil prices, exchange rates, consumer confidence and business sentiment. It also takes into account local drivers of a particular market. Each market has a unique model to predict future performance that includes the impact of destination brand and major local events, enabling subscribers to keep an eye on specific upcoming conditions.
“In this fast changing environment, it is vital to look at how the local economic conditions are affecting our industry,” said James Chappell, Managing Director of STR Global (pictured). “By studying these in combination with historic data from previous cycles, the Hotel Market Forecast will give much needed visibility on what is likely to happen. We have been looking at these models for several years now and are confident that this will be an important instrument in the market.”
To be initially rolled-out for key UK and European cities, Hotel Market Forecast gives subscribers the expected occupancy, average room rate and revenue per available room (revPAR) performance for a selected market for the following 24 months.
For further information please contact Thomas Emanuel at temanuel@strglobal.com.
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