Total income for accomodation industry up 8% y/y in October.
Category Commercial news
Total income for SA’s tourist accommodation industry (which includes restaurant‚ bar sales and “other” income) rose by 8% year on year (y/y) in nominal terms (current prices) in October‚ Statistics SA’s tourist accommodation survey released on Monday showed. The survey is conducted monthly and covers a sample of public and private enterprises involved in the short-stay accommodation industry‚ with the results used to compile estimates of tourism satellite accounts‚ as well as the gross domestic product. Stats SA said that income from accommodation increased by 9.3% y/y in October‚ the result of a 6.9% increase in the number of stay-unit nights sold and a 2.2% increase in the average income per stay unit night sold. Stats SA describes a stay unit as a unit of accommodation available to be rented out to guests. Examples include a powered site in a caravan park or a hotel room. The types of accommodation that recorded the highest y/y growth rates in income in October 2014 were hotels (5.2%) and “other” accommodation (3.4%). Income from accommodation increased by 9.6% in the three months ended October 2014 compared with the three months ended October 2013.
Author: SA Commercial Property
