CHICAGO, October 20, 2022—The Hospitality Asset Managers Association (“HAMA”) today released the results of its Fall 2022 Industry Outlook Survey. The semi-annual report collected the opinions, experiences and predictions of approximately 70 hotel asset managers concerning the hospitality industry since the beginning of the pandemic through today. The survey also addressed respondent’s thoughts on the current state of the industry.
Presented live in Chicago, Ill., the survey was conducted in advance of HAMA’s 2022 Annual Fall Meeting. In total, 68 asset managers, comprising approximately one-third of membership, participated in the survey.
“According to our membership, the future looks bright for the hospitality industry, with the majority of participants forecasting that their properties will exceed 2022 budgeting targets,” said Matthew Arrants, The Arrants Company, CHAM, HAMA president. “Regardless of the category, our folks are optimistic. While labor remains a major concern, very few of our members were forced to hand back keys even during the worst of the pandemic, and that number looks to decrease sooner than later. Moreover, the acquisition market seems to be heating up, as well. Shy a black swan event, 2023 already is shaping up to be a strong years for the hospitality industry.”
Highlighted results include:
- Approximately 60% of respondents believe most of their portfolios (75%-plus) will exceed 2022 budgeted RevPAR.
- Nearly half of participants expect 75-100% of their portfolio to exceed 2022 budgeted GOP.
- Asset managers currently are most concerned about labor availability (86.76%), labor costs (85.29%) and demand (42.64%).
- Just under 50% believe industry RevPAR levels as a whole will return to 2019 levels by 2023, while approximately 40% predict it will occur in 2024.
- Roughly 80% of those surveyed actively are seeking acquisition opportunities.