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HAMA survey: 30% contemplating brand, management changes

The Hospitality Asset Managers Association (HAMA) has released the results of its bi-annual survey of asset managers, and while there is optimism about a much quicker than expected recovery, a meaningful percentage of hoteliers still are working toward solutions.

Survey results from 98 participating asset managers found:

  • Nearly 30% are contemplating brand or management changes as part of their recovery strategy, approximately 5% believed they would change brands, 10% foresaw changing management companies and roughly 15% believe they would change both.
  • Approximately 15% of participants expected to either hand back keys to the lender or enter into a forced sale situation. Nearly 10% already had.
  • Fully, 50% of survey respondents believe RevPAR will return to 2019 levels by 2023. Not quite 10% believe it will occur as early as 2022, while approximately 37% believed it would happen in 2024.  Predictions for 2025 and 2026 came in at 3% and 1%, respectively.
  • The three factors most concerning to participants right now include labor availability (75%), demand (60%) and labor costs (55%).
  • On average, in urban markets for full-service and luxury properties, nearly 45% of those surveyed anticipated acquisition price discounts of 11% to 20%. One respondent believed discounts could reach 41% or more off pre-pandemic pricing, and 15% felt discounts would be as low as 0% to 11%.
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