Hotels and restaurants

This news release refers to hotels (including guest houses and conference centres), restaurants, snackbars (including ice-cream parlours, fastfoodrestaurants, etc.), pubs and bars. Traditionally, they are the backbone of the hotels and restaurants sector. Catering services and recreational accommodations are not included.

Excluding VAT

All turnover figures are presented excluding VAT.

Seasonally adjusted

Seasonal adjustment is a statistical method for removing the seasonal component of a time series that is used when analysing non-seasonal trends. Examples of seasonal patterns are higher turnovers during holidays or more ice-creams sold in summer. If figures are adjusted for seasonal variation, mutual comparison is easier, because interfering seasonal effects have been removed.

Quarter-on-quarter comparisons are adjusted for seasonal variation. Obviously, year-on-year developments are not seasonally adjusted.

Volume

Volume is defined asturnover adjusted for price developments and is an economic growthindicator.

Price developments

Consumer price index figures are used to calculate price developments. Currently, there is no separate price index for hotels. A separate price index for hotels will be introduced in 2016.