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| Sarah Gulla |
NASHVILLE, TN, April 15, 2024—The Hospitality Asset Managers Association (“HAMA”) today announced the results of its Spring 2024 Industry Outlook Survey.
The semi-annual report expressed the
updated opinions, experiences and predictions of nearly 70 hotel asset managers
on topics ranging from overall economic concerns to RevPAR predictions.
Conducted in conjunction with HAMA'S 2024 Annual Spring Meeting that was held
in Nashville, the results were presented to media live with a concluding
Q&A session via online conferencing. In total, 68 asset managers,
comprising approximately one-third of membership, participated in the survey.
“While there are some overall concerns ranging from demand to the impact of the coming U.S. presidential election, our membership tends to have a rather positive view of the industry through the near to mid-future,” said Sarah Gulla, HAMA president.
“Budgetary forecasts for both RevPAR
and GOP are expected to exceed expectations in virtually every segment, from
select-service through resorts, and more than 70% of respondents expect RevPAR
to exceed 2019 levels.”
Highlighted
results include:
·
The top three issues of
greatest concern are demand, wage increases and increased insurance costs.
·
Slightly more than half
(51.47%) of the respondents are contemplating a management and/or brand change.
·
83.83% of respondents
believe RevPAR will return to U.S. hotels as a whole no later than 2025.
CONTACT:
Chris Daly,
(703) 435-6293
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