Summer Industries In Focus
Raleigh, N.C., May 21, 2014
— According to a report released today by financial information company Sageworks, Summer couldn’t have come at a better time for industries that rely on travel, vacation and warm weather. According to data from Sageworks, a financial information company, several travel and vacation-related industries such as gas stations and hotels have been growing sales at a rate below the all private company average. Privately held gas stations, despite rising gas prices, have especially struggled to grow sales in the last 12 months, with the second lowest growth rate of any sub-sector tracked by Sageworks.
With beach season rapidly approaching, American consumers are expected to travel and vacation at decade-high levels this summer season. According to AAA, more than 36 million Americans will be traveling for a Memorial Day “getaway,” the second highest volume of Memorial Day travel since 2000 and the highest volume since the recession.
Americans look to be traveling at high levels throughout the rest of the summer as well, with the National Association of Convenience Stores reporting that 25% of consumers will be spending more money this summer in light of the long winter. This expected flurry of consumer spending on holiday travel and vacation could not have come at abetter time for many industries that rely on tourism, travel and the summer heat to generate business.
Below are the most recent sales growth rates for four industries related to summer, travel and vacation. For historical data or separate performance metrics on any of these industries, please contact the data & research team at Sageworks.
Sageworks is a financial information company and the leader in the analysis of privately held companies. The company provides risk-management solutions to financial institutions and financial analysis and benchmarking applications to accounting firms and private companies. Sageworks data and applications are used by thousands of accounting firms and financial institutions across North America and internationally.
About Our Data
Sageworks possesses a proprietary database of privately held company financial statements aggregated by industry.
Sageworks aggregates private-company financial statements from accounting firms, banks, and credit unions through a cooperative data model with their clients. The data is segmented and can be queried by 1,400 industry codes, 70 financial metrics, company size, and geographic location. Sageworks releases a quarterly Private Company Report, which provides a snapshot of U.S. private-company performance.
Sageworks data and analysis has been used by most major media outlets and is featured weekly on Forbes.com through the "Sageworks Stats" blog.
An infographic from Sageworks providing an update on the health of privately held companies and their impact on the U.S. economy can be found here.
Data & Research Team, Sageworks