Hotel Asset Managers Maintain Recovery Optimism Despite Late-Year Warning Signs
Partially Returning Food and Beverage Among Top Operational Changes
When the Hotel Asset Managers Association last met in the spring, the COVID-19 pandemic had just passed the one-year mark in the U.S., and members were generally optimistic. At the time, the nationwide vaccine rollout was in full swing and vaccination rates were going up while COVID-19 cases were decreasing.
When the Hotel Asset Managers Association last met in the spring, the COVID-19 pandemic had just passed the one-year mark in the U.S., and members were generally optimistic. At the time, the nationwide vaccine rollout was in full swing and vaccination rates were going up while COVID-19 cases were decreasing.
That optimism has largely sustained through the competing forces of a full summer season of leisure demand, the spread of the delta variant and lower business travel demand in the autumn.
In a survey of members, HAMA found roughly 50% said they expect overall U.S. revenue per available room will return to 2019 levels in 2023, which is consistent with spring survey results. More than 40% expect that recovery in 2024, down a bit from the spring.