- HAMA: Demand and wage increases are the top hospitality concerns.
- Recession concerns declined for the third straight year.
- Students from Boston and Florida won HAMA’s 20th student competition.
DEMAND, THE IRAN conflict and wage increases are the top concerns in the hospitality sector, according to the Hospitality Asset Managers Association. Recession concerns have declined for the third straight year, with just over 16 percent expecting a U.S. recession in 2026.
HAMA’s “Spring 2026 Industry Outlook Survey” found uncertainty around cap rate trends, with 40 percent expecting a decrease of less than 25 basis points and 35 percent expecting an increase of 25 basis points. Concern about a recession fell from 37 percent in fall 2025 and 49 percent in spring 2025. The semi-annual report surveyed 86 HAMA members on topics including RevPAR expectations and segment outlooks.
HAMA released the report during its 2026 Annual Spring Meeting in Washington, D.C.
“HAMA members continue to have a positive view of the hospitality industry,” said Dina Winder HAMA president. “After the strong performance of the first quarter, nearly 60 percent of our members expect hotels in their portfolios to exceed budgeted RevPAR for the full year. Owners are also reinvesting in the industry, with nearly 90 percent planning hotel renovations and more than 70 percent actively seeking acquisitions.”
In September, more than 70 percent of respondents to a HAMA survey expected RevPAR to increase 1 percent to 3 percent in the fourth quarter of 2025.
HAMA student winners
For the 20th year, the HAMA Education Committee presented a case study for hospitality students to assess a management company transition for a 1,200-room convention hotel. Students evaluated three RFP responses and selected a management company. Seven undergraduate and seven graduate programs submitted entries.
This year’s winners were the Boston University undergraduate team of Amru Mahmoud, Jonathan Bear, John Sherburne, Devon Karras and Richard Lohnes and the Florida International University graduate team of Sophia Mayo, Jacob Reeder, Yasmin Bryan and Marc Velson Jerome.
Boston University based its decision on the selected management company’s higher market value, stronger EBITDA and lower execution risk. Florida International University chose the same company, citing continuity in the sales pipeline, avoidance of brand-conversion disruption and downtime and lower owner exposure through a larger key money contribution from the brand.
John Paulsen, HAMA education chair, said the quality of submissions and the next generation of hospitality asset managers continue to improve each year.
“More than 30 HAMA members participated as mentors or judges,” he said. “The competition continues to bridge the academic and operational sides of the industry. The submissions demonstrated a strong understanding of the hotel business and today’s operating environment.”
In March 2025, HAMA named Penn State and Boston University winners of its 19th Annual Student Case Competition, awarding each team $5,000 and a trip to HAMA’s Spring Conference to network with hotel asset managers.
