TBR Index Continues Advance Into Y2K

<B>TBR Index Continues Advance Into Y2K</B>

By David Meyer

The Travel Business Roundtable Index of Leading Economic Indicators grew by a healthy 1.0 percent in January. The Conference Board's U.S. Index of Leading Economic Indicators also grew by 0.3 percent in January.

The growth in the monthly figures is particularly significant in light of the Year 2000 concerns that gave many business travelers a slight pause, even though no disaster came to pass.

"The increase in the January TBR Index represents a renewed continuation of strong growth in the travel and tourism industry," said Travel Business Roundtable chairman Jonathan Tisch. "This pattern reflects the continuing significant contribution that travel and tourism makes to the strength and vitality of the overall economy."

Overall, the annual 5 percent rate of industry growth has consistently outperformed the U.S. Index's 2 to 3 percent increases.

Growth in the January numbers was fueled primarily by a rise in Smith Travel Research's hotel/motel revenue index Also contributing slightly to the increase were the Conference Board's consumer confidence index, the daily rental price according to an index provided by an industry source, the level of travel industry employment according to the Bureau of Labor Statistics and personal consumption expenditures for travel and other discretionary products and services from the Bureau of Economic Analysis.

Unchanged or slightly down from December were total Airlines Reporting Corp. sales, revenue passenger miles from the Air Transport Association, retail sales at eating and drinking establishments from the Department of Commerce and Bureau of Census, and Smith Travel Research's hotel/motel occupancy rate.