Meet the Money® is one of the best places in the country for meeting the Who's Who of the hotel world, getting financing and transactions done and catching up on the latest strategies and approaches. This year's conference was held at the Sheraton LAX, May 6-8, 2013 and was attended by approximately 350 hotel industry leaders. Here's a quick take on the mood of the conference and some information about
Mood of the hotel industry: optimism and sustainability of recovery
JMBM wrapped up its 23rd annual hotel conference this week amidst the strongest optimism for the hotel industry that hotel experts have seen for six years. The consensus was there is a lot of blue sky ahead. Some think the good times will only last for a couple of years, but many see a good run for at least 5 years!
Everyone at Meet the Money® seemed to be fairly comfortable that the recovery has significant sustainability, because the debt and equity markets have not gotten too frothy, and new supply has been very restrained.
Mark Woodworth of PKF summarized it well after presenting industry fundamentals by saying: "It is a great time to be in the hotel business!"
And Vail Brown gave the STR forecast that the outlook of continuing improvements is "Steady as she goes."
Greg Hartmann of JLL sounded a slightly more cautious note. He agrees that everything looks pretty good for the next couple of years, but questions how long it can last, and suggests that investors might consider selling in the next year and a half to two years.
What inning are we in? Almost every panel gave its views, with the biggest consensus being that we are in the 4th or 5th inning -- still early in the ballgame. John Alderson of Westfield thinks that the shopping center owners now getting active in adding hotels to their malls are way behind the rest of the industry (2nd inning?) and are likely to have their games continue as they implement strategic plans.
Hotel Industry Presentations from Meet the Money® 2013
Meet the Money® 2013 was buzzing with action and great information. We have decided to release some of the presentations for free download. Select presentations from Meet the Money® 2013 (described below) and are now available at www.HotelLawyer.com. Click on "RESOURCE CENTER" and then "Hotel Industry Presentations."