Hotel revenue and profit to exceed budgets, say asset managers

International news
Despite a muddied macroeconomic and geopolitical climate, members within the Hospitality Asset Managers Association (HAMA) are bullish on the state of hotel industry performance, according to a new survey.

In its semi-annual Spring 2024 Industry Outlook Survey, nearly 70 hotel asset managers (around a third of membership) chimed in on an array of topics ranging from overall economic concerns to RevPAR predictions. The survey was conducted in conjunction with HAMA‘s 2024 Annual Spring Meeting held in Nashville.

“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.”