Over the weekend, I had brunch with a good friend who is an exec at one of the large publicly traded hotel cos. He has been in the industry for 15 years.
I peppered him with questions and his take was well worth a post.
He says revpar for next year looks better and that there are a few reasons for the continued improvement.
First and perhaps most importantly, corporate customers are spending more. This is based on nessecity and an improving business environment despite the uncertainty caused by the complex global economic environment.
Second, he tells me that the hotels have not built out new rooms aggressively since the credit crisis and that any overhang there has been digested.
Big picture, he sees signs of recovery even though it might be uneven and agreed that some of the hold back relates to worry over continued weakness.
My take here is that executives, analysts and the media are often slow to respond to new information and sometimes remain anchored in past projections despite new information.
This must be especially true after the roller coaster ride of the past few years.
$MAR $H $WYN $CHH $HOT
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