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HAMA: Demand, wage growth and ADR increase lead industry concerns

About 58 percent of respondents plan to make brand or management changes

HAMA: Demand, wage growth and ADR increase lead industry concerns

DEMAND, WAGE GROWTH and ADR increase remain the top concerns in hospitality industry, according to the Hospitality Asset Managers Association’s Fall 2024 Industry Outlook Survey. However, about 82 percent of respondents do not expect a recession in 2025.

Furthermore, approximately 58 percent have made or plan to make changes to brand or management as part of their strategy.


“The overall hospitality industry outlook remains positive from the hotel asset management point of view,” said Sarah Gulla, HAMA’s 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.”

The semi-annual report, released during HAMA’s 2024 Fall Meeting in La Jolla, reflects insights from nearly 70 hotel asset managers on topics including budget forecasts and management company outlooks. HAMA said that 65 asset managers, representing about one-third of its membership, participated in the survey.

In April, 83.83 percent of respondents to HAMA’s “Spring 2024 Industry Outlook” survey said they believed that RevPAR will return to U.S. hotels as a whole no later than 2025.

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Boston Hotels Tops Global Prices at $375 a Night

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Summary:

  • Boston and New York are the priciest cities for hotel stays, Cheaphotels.org reported.
  • Detroit ranked sixth globally, followed by Washington, D.C.
  • Mumbai ranks 49th out of 100 cities.

BOSTON AND NEW York are the most expensive cities for hotel stays, according to a Cheaphotels.org survey. Phnom Penh, Cambodia, is the least expensive and Mumbai, India, ranks 49th out of 100 cities.

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