The survey was conducted in preparation for HAMA’s 2014 Annual Fall Meeting held in Miami, Fla. In total, 114 asset managers comprising more than half of membership participated in the survey.
This group represents more than 3,500 hotels and resorts across every major brand, accounting for 775,000 hotel rooms, 250,000 employees, $40 billion in annual revenue and $3 billion in capital expenditures.
Survey findings show that:
52 percent believe RevPAR growth will be between four to six percent. An additional 39 percent believe RevPAR growth will be between six and eight percent.
Nearly half (49.1 percent) believe RevPAR growth will be driven 80 percent by ADR.
Three quarters believe the lodging industry is in the middle innings of the current real estate cycle.
70 percent believe that the 2016 presidential election cycle will not spawn a business slowdown akin to the 2012 election.
The vast majority (86.8 percent) believe that hotels will find alternative ways to operate room service.
Free guest room Wi-Fi will be the norm within two years, according to 47.4 percent of those surveyed.
Two-thirds (65.8 percent) think mobile check-in also will be the norm within three years.
In addition, respondents identified several issues currently facing the industry. More than half (54.4 percent) felt that third-party commissions were the most concerning, and nearly as many (47.4 percent) voiced concern over the “rising cost of health care.” “OTA leverage” was cited as one of the top three issues by 43 percent.