LA JOLLA, Calif., Oct. 15, 2024—The Hospitality Asset Managers Association (“HAMA”) today announced the results of its Fall 2024 Industry Outlook Survey. The semi-annual report conveyed the latest opinions, experiences and predictions of nearly 70 hotel asset managers on topics ranging from budget forecasts to management company outlooks.
Conducted in conjunction with HAMA’S 2024 Annual Fall Meeting that was held in La Jolla, Calif., the results were presented to media live with a concluding Q&A session via online conferencing. In total, 65 asset managers, comprising approximately one-third of membership, participated in the survey.
“The overall hospitality industry outlook remains positive from the hotel asset management point of view,” said Sarah Gulla, HAMA president. “For the most part, our member hotels continue to exceed budgeted forecasts, and there seems to be little fear of a recession on the immediate horizon. While demand and wage increases remain persistent concerns, this is a solid time to be in the hospitality industry.”
Highlighted results include:
- The top three issues of greatest concern are demand, wage increases and ADR growth.
- Nearly 82% of respondents do not believe the economy is headed toward a recession in 2025.
- Approximately 58% of respondents have made or are planning to make changes to brand and/or management as part of their current strategy.
To download a copy of the survey findings, please visit https://app.box.com/s/ia7uk2r8kh3hsld50zcu46xe0okbtwpj.
