I got a call recently from a C-suite executive who wanted nothing more than to blow off a little steam following an internal hotel sector forecast meeting.

During the meeting, the executive questioned how the team generated some of the forecast data that was presented. The team responded. They were using forecast data from the industry’s research companies.

This answer provoked the executive to tell his team: “Think for yourself.”

I certainly can understand his frustration. During my previous life in investor relations, I remember sitting in on meetings where executives battled back and forth over what the wording should look like in the forward-looking guidance section of that quarter’s earnings release. Forecasting is more art than science, and every piece of information you find can be invaluable when forecasting revenue per available room, demand or any other of a number of key performance metrics.

That said, it’s also important to judge for yourself what you’re seeing in the market because forecast data can vary widely from company to company, the executive said.

“A lot of people put too much weight on the experts,” the executive told me. “It’s a local business here.”

For the record, STR, the parent company of HotelNewsNow.com, provided the following forecast for 2012 and 2013.

As for the executive’s own take on where the industry is going during 2012? “Not great, but not bad,” he said, with “moderate” demand growth during the year.