by Michael J. Shapiro | March 10, 2010

The Hotel Industry Leading Indicator dipped slightly in January, the first decrease following nine consecutive months of increases. The composite monthly indicator, as tracked by research firm in conjunction with Smith Travel Research, leads the industry's business activity by four to five months in advance, on average. The January decrease was slight -- only 0.2 percent, compared with December's increase of 1.4 percent.