The Hospitality Asset Managers Association reveals its Spring 2024 Industry Outlook survey results. 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 predictions for revenue per available room.
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,” HAMA President Sarah Gulla said in a statement. “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 percent 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 percent) of the respondents are contemplating a management and/or brand change.
- 83.83 percent of respondents believe RevPAR will return to U.S. hotels as a whole no later than 2025.
Click here to download a copy of the survey findings.