TIA, Smith Travel Research forecast healthy travel year

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Art Pfenning According to data published by the Travel Industry Association (TIA) and Smith Travel Research, travel should experience a healthy year in 2005 and continue to grow in 2006.

The TIA predicts a 1.7% increase in leisure trips for 2005 and a 1.7% growth in 2006.  Also, business travel will continue to grow over the next two years.

The TIA predicts a 3.6% increase in business trips in 2005 and a 1.9% increase in 2006. Hotels performance should also improve, according to Smith Travel Research.

For 2005, the research firm predicts a 3% growth in demand for hotel rooms, a 3.8% increase in average daily rate and a 5.5% increase in revenue per available room.

We all know that forecasts are just forecasts and sometimes achieving those goals can be a very different matter.

However, the most telling sign that the travel industry may be in for a solid turnaround is the optimistic outlook of its normally cautious constituents.

In a recent poll of TIA members, 81% said that they expected business to improve in 2005.

Art Pfenning is the research director for Northstar Travel Media, Travel Weeklys parent company. For information on how research can help your business, or if you are interested in having NTM Research conduct your next project, contact Pfenning at [email protected].

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