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The impact of financial, macroeconomic and non economic factors on the hospitality industry in Spain and the UK

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Academic year: 2020

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Figure

Figure 1. Time series plots of hotel price indices and hotel stock returns of Spain and the UK from May  2003 to December 2017
Table 3 Correlation Matrix of the UK HR t(UK) HR t-1(UK) R t-1(UK) ΔEXR  t(UK) ΔSIR  t(UK) ΔUNEP  t(UK) ΔTA t(UK) Note: Correlation coefficients, using the observations from May 2003 to December 2017.ΔTA t(UK)0.12720.06880.1074-0.11160.0572-0.07481ΔUNEP t(

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