Today, Hotels.com®, the largest provider of lodging worldwide, released their biannual Hotel Price Index (HPITM ) illustrating an increase in average hotel room rates for the first time since the end of 2007. Despite the 2% increase, hotel room rates are still markedly lower than rates at the peak of the market. As the Hotels.com 2009 HPI predicted, 2010 continues to be another great year for great travel values.
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CEO confidence was up slightly in the third quarter, noting a slowing economic growth pace, but no evidence of a double dip recession, according to the Vistage CEO Confidence Index 3rd quarter results. Despite widespread recognition of the recent economic slowdown, CEOs were more confident in their firm’s ability to increase their revenues and profits in the year ahead. Yet, virtually every CEO (92%) expects rising employee health care costs, and 57% of all CEOs expect those cost increases to be more than 10%. Two-thirds of all CEOs said that without the extension of the Bush tax cuts their businesses would be harmed, and nearly half (46%) reported continued unfavorable credit market conditions. In response to a question about the upcoming elections, 62% of CEOs believe the Republicans will control the U.S. House of Representatives in January 2011.
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Despite a sluggish economy and low inflation, the 2010 PNC Christmas Price Index® surged 9.2 percent in the whimsical economic analysis by PNC Wealth Management based on the gifts in the holiday classic, “The Twelve Days of Christmas.”
According to the 27th annual survey, the price tag for the PNC CPI is $23,439 in 2010, $1,974 more than last year. This is the second highest jump ever and largest percentage increase since 2003 when the index rose 16 percent. That comes on the heels of a modest 1.8 percent increase a year ago.
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Small business CEOs expressed a remarkable resurgence of optimism both in the overall economy and for their own companies. The Vistage Confidence Index jumped to 106.3 in the 4th Quarter of 2010, after reporting 95.1 in the 3rd quarter, 94.4 in the 2nd quarter and 93.7 in the 1st quarter of this year. Of the 1,729 respondents in the Q4 Vistage CEO Confidence Index, 77% expect increased revenues and 63% foresee higher profits in their own companies.
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Today, hotels.com®, the leading provider of lodging worldwide, released its Hotel Price Index (HPI™), noting a theme of recovery in the travel industry as global hotel rates rose 2% in 2010. Despite the increase year-over-year, travel deals and value can still be found in America’s most popular cities as well as the new global up-and-coming destinations.
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The average cost of a hotel room around the world rose 2% in 2010, according to the Hotels.com® Hotel Price Index™ (HPI®).
The increase was the first time that the average hotel room price rose year-on-year since 2007.
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Two-thirds of all CEOs surveyed believe the economy has improved during the past year and half expect further gains during the year ahead. The Vistage CEO Confidence Index was 105.2 in the 1st quarter of 2011, slightly below 106.3 recorded in the prior quarter but well above the 93.7 in last year’s 1st quarter survey. CEO confidence has more than doubled since the recession low of 48.7 two years ago. However, the small decline reflects a renewed uncertainty about the impact of events in Japan and the Middle East on energy costs, consumer spending and inflation. Overall, the majority of CEOs still expect the recovery to continue and their own businesses to continue to grow.
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The pace of economic growth has slowed significantly since the start of 2011 and the slowdown is expected to continue into the start of 2012, according to a survey of CEOs of small-to-medium-sized businesses. The Vistage CEO Confidence Index was 92.9 in the Q2 2011 survey, substantially below the 105.2 posted in Q1, and erasing all the gains recorded since 93.7 was registered in Q1 2010. Though declines were present in every major survey component, the largest losses were in evaluations of the overall economy. Rather than expecting a renewed economic downturn, the majority of CEOs anticipated a stagnating economy: growth too slow to support robust gains in employment or investment, and resulting in lower revenue and profit levels than previously forecast. Half of all firms put planned investments on hold due to the slowdown in economic growth.
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Genworth Financial, Inc. (NYSE:GNW) announced today the launch of two new index annuities designed to meet the growing needs of America’s security-conscious consumers. SecureLiving® Index 7 and SecureLiving® Index 10 Plus will be issued by Genworth Life and Annuity Insurance Company.
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After precipitous declines during the prior two quarters, CEO confidence bounced back at year’s end with the largest quarterly gain since the start of the recovery in 2009. The Vistage CEO Confidence Index was 98.8 in the 4th quarter 2011 survey, up from 83.5 in the 3rd quarter, and reaching the highest level since 105.2 was recorded at the start of 2011. The Q4 2011 Vistage CEO Confidence Index reflects responses from 1,641 U.S. CEOs, surveyed between Dec. 12 and Dec. 22, 2011.
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Britain’s small businesses grew by an average of 11 per cent over the last six months, up five per cent on the last half year according to HP’s SMB Index, an independent survey of 1000 UK small businesses (between 1 and 50 employees).
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Hotels.com®, the expert in online hotel booking and home to more than 20,000 hotel destinations worldwide, released its biannual Hotel Price Index™ (HPI®), reporting on the most popular travel destinations and the average price paid by travelers while visiting those destinations.
The HPI is a regular survey of hotel prices in major city destinations across the world, based on hotels.com bookings. Prices reported are those actually paid by customers (rather than advertised rates) during the calendar year of 2011. On a global scale, hotel prices increased by 4 percent on average in 2011 over 2010, while average prices in North America increased 5 percent year-over-year, continuing the process of steady recovery from the lows of 2008. Entering the third consecutive year of moderate price rises for guests, the global average price is still lower than it was in 2005, such was the depth of the financial crash-inspired trough.
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