At the 19th Annual general managers conference held by Chesapeake
Hospitality, a third-party management company based in Maryland, the
company's general managers weighed in with their thoughts on the
industry climate. In a survey conducted at the event, the GMs said they
had a positive, but cautious, optimism regarding the outlook for the
hotel industry for the remainder of the year. More than one-third of
attendees said they are experiencing growth in corporate business,
while another 27 percent have seen increased leisure demand. "We see
these as very encouraging signs on the road to recovery," said
Chesapeake President Kim Sims in announcement of the findings.
However, the GMs expressed lingering concerns about the outlook for
business meetings, with 90 percent of respondents to the survey citing
shorter meetings (more one-day events, often without a room block) and
lower food and beverage revenues as common. Meanwhile, nearly 20
percent of attendees expect to see rate increases during upcoming
negotiation periods, the remainder felt things would remain flat. Only
one respondent expected a possible downturn in rate.
"Overall, the hotel industry continues to improve, getting stronger
virtually every week, and we are working hard to continue moving the
needle further into positive territory," Sims said in the announcement.
"At the end of the day, hotels will thrive based upon superior service."
So what do the rest of you think about the remainder of 2010?