US hotels ‘heading back to average’
The US Hotel Industry Leading Indicator of business activity increased by 0.2% during July after going down 0.5% during June, according to research firm e-forecasting.com in conjunction with Smith Travel Research.
The six-month growth rate went up by an annual rate of 6.2% during July after going up 7.2% during June. Maria Simos, CEO of e-forecasting.com, said: "Even with this monthly increase, we are still seeing a deterioration in the six-month growth rate, which is now near its long-term trend. This means that growth in the US hotel industry is headed back to its long-term average and may stop seeing some of the strong months we have had this summer."
See the full release here: