Travel Biz Index Growth Dips In November

<B>Travel Biz Index Growth Dips In November</B>

The Travel Business Roundtable Index of Leading Economic Indicators grew by only 0.2 percent in November 1999. Even with the weak monthly performance, the index still advanced at a rate of 6.3 percent for the past 12 months, while the Conference Board's U.S. Index of Leading Economic Indicators increased at only 2.3 percent. The U.S. Index grew by 0.3 percent in November.

"The TBR Index provides concrete data to demonstrate our contention that travel and tourism is a growth industry, and one which has great potential to sustain long-term success," said Jonathan Tisch, president and CEO of Loews Hotels and chairman of the TBR.

The growth in the TBR monthly figure comes from a composite of 1.1 percent in increases from six of the nine economic indicators the index uses to track the travel industry.

Growth came in Smith Travel Research's hotel/motel occupancy rate index; daily car rental price according to an industry source; the Conference Board's consumer confidence index; the level of travel industry employment, according to the Bureau of Labor Statistics; personal consumption expenditures for travel and other discretionary products and services from the Bureau of Economic Analysis; and retail sales at eating and drinking establishments, taken from the Department of Commerce and Bureau of Census.

The TBR index reported a sharp 0.9 percent decline in total Airlines Reporting Corp. sales and the Smith Travel's hotel/motel revenue rate.