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More signs in publications we follow as hospitality consulting advisors point to growth in the lodging sector continues. This is marked by increased bedding purchases, rising valuations and a growing leisure travel market: – Hotel BeddingFor example and as reported in Hospitality News Network, “Owners are finally feeling more secure about the financial future and are greeting the new year with bolstered renovation budgets, revamping their properties’ guestrooms with new bedding. Designer Stacy Garcia, founder of Stacy Garcia Inc., said hotel owners weren’t sure a year ago when the recession would bottom out, but now there is a general consensus that the industry is beginning a recovery.” – Secondly and in this same publication, “Industry experts are already seeing increases in 2011 hotel valuations, particularly at the upper end of the market, say Steve Kirby, principal with Mumford Co.’s Atlanta offices, and Daniel Beider, chairman and senior managing director with Paramount Lodging.” – Lastly, and in AH&LA’s Smart Brief, “While the lodging industry as a whole is rebounding with the travel recovery, the leisure sector is taking longer. Wyndham has a greater exposure to the leisure travel sector, so it is not recovering as quickly as some of its rivals. “Business travel falls off harder and comes back more quickly,” said CEO Stephen Holmes.” In general, upgrades in beds, higher urban hotel real estate values and increased over-night stays by leisure travelers bodes well to suggest an economic recovery is in progress from a hospitality consulting perspective. More importantly, it says a longer term mind set regarding operations, investments and recreation is reemerging. View full articles here: Bedding boosted by new budgets 2011 valuations expected to rise in large, urban markets Wyndham’s quarterly earnings rise 6.9% as demand improves One take away here from our hospitality consulting vantage point – increased spending by operators, investors and travelers often means discretionary spending is also on the rise. This adds to the economic engine that will drive growth amongst the corporate traveler as well.
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