What to Expect in the Hospitality Industry in 2023
Mark D. Podgainy | January 30, 2023
By Mark D. Podgainy Last year was a year of dramatic recovery for the hospitality industry. What’s ahead for 2023? Definitely clouds, but the question is whether the clouds will pass over or they will result in a storm. What’s Ahead High labor costs will persist. While many workers have come back to the hospitality industry after leaving during the Covid-19 pandemic, the industry is still short of employees. This supply-demand imbalance will continue to keep labor costs high and impact margins. As the economy slows the supply of employees will grow (layoff announcements in the news have been increasing), but it is unkno...
REPORT: Hotels Continue to Recover in 2023 as Industry Begins New Era of Operations
AHLA | January 30, 2023
2023 AHLA State of the Industry forecasts opportunities, challenges Download the report Here WASHINGTON (Jan. 30, 2023) – The hotel industry in 2023 is projected to surpass pre-pandemic levels of demand, nominal room revenue and state and local tax revenue, while inching closer to other key 2019 performance metrics, according to the American Hotel & Lodging Association’s 2023 State of the Hotel Industry Report. The report, which forecasts that operational challenges such as staffing shortages and economic factors will replace COVID as hoteliers’ top concerns, is based on data and analysis from Oxford Economics and was cr...
NYU Conference Takeaways: Despite Some Challenges, the Hospitality Sector Is Still Looking Good
Rod Clough | June 15, 2022
By Rod Clough The tale of the looming recession was mixed, with some forecasting a shallow, short-lived recession, and others expecting a more significant impact. The overall sentiment remains a positive one, and that cash flow growth should continue. Despite high inflation, other economic markers, such as consumer goods, mortgage default rates, and low unemployment rates, look positive. ADR will reach new highs in 2022, with further, albeit more muted, growth expected through 2023. With little push-back being seen in the market on higher ADRs, hotel owners are able to tap into this revenue source to combat higher operating costs, infla...
Hunter Conference Marks a Return to In-Person Conferences
Rod Clough | May 27, 2021
By Rod Clough As to be expected, the prevalent theme was that leisure demand continues to drive the initial recovery, with corporate transient and meeting/group demand lagging, but one must wonder if meeting/group demand will bounce back quicker than anticipated given the rather last-minute popularity of this event. Multiple panels reported that small and mid-sized corporate group bookings are picking up, which will be a critical piece of the recovery story in the second half of 2021. Also highlighted was that travel would return to normal more quickly if/when companies quicken their return to the office and once normal in-classroom educat...
Why 2018 Will Be Great: Hotel Industry Forecast
Robert A. Rauch, CHA | February 2, 2018
By Robert A. Rauch The big news in 2017 was the stock market, consumer confidence and the economy in general. Tax reform, wage growth, reduced regulations and the strength of our nation could keep this robust economy going and dramatically enhance it. Supply growth has begun to moderate somewhat, in part due to high construction costs and also due to lender restraint. Oil prices are back up, consumer confidence is solid, interest rates remain low albeit forecast to inch up and the U.S. and global economies seem stronger than last year. Gross domestic product may actually approach 3 percent in 2018, personal income growth is strong and l...
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All Things Independent
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