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Meet the Money 2024 Special Presentations #2: LIIC Top Ten and Lodging Industry SWOT Analysis

22 May 2024
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JMBM’s Global Hospitality Group®  hosted the 31st edition of Meet the Money® national hotel conference on May 6-8, 2024. Alongside exciting networking opportunities and insightful discussion panels, the conference featured several special presentations interpreting the latest data and industry sector highlights. In Part 2 of this blog series, we highlight the special presentations given by Daniel Lesser and Michael Cahill.

U.S. Lodging Industry H1 2024

Daniel H. Lesser, Co-Founder, President, & CEO of LW Hospitality Advisors, continued the first day of presentations by examining the strengths, weaknesses, opportunities and threats for the U.S. Hotel Industry in 2024.

Daniel explained that robust revenues, limited new supply, and significant capital inflows continue to fuel the U.S. hotel industry’s extraordinary performance in the post-COVID era. However, cracks may be beginning to emerge with March 2024 RevPAR declining on a year-over year basis for the first time since February 2021. Group business demand, which was a laggard to rebound, is now healthy, while corporate individual travel maintains modest positive momentum.  While leisure demand continues to thrive, the segment is challenged with many Americans traveling abroad coupled with a slow return of inbound overseas visitors particularly from Asia. During the near-term, moderate U.S. RevPAR growth is expected while operating expenses are projected to rise at a rate greater than inflation.

Fundamentals of select urban markets including Boston and New York rival pre-pandemic levels while other downtown cores including Chicago and San Francisco have runway to recovery. Finally, numerous hotels including many that are physically and/or functionally obsolete are being acquired for conversion and/or redevelopment to affordable, migrant, student, or supportive housing which represent a reduction in supply. Assets with deferred brand mandated property improvement plans (PIP) are under pressure to complete them in a costly environment. Combined with $195 billion in hotel loans maturing during the next three years, and/or rising technical defaults resulting from failing to meet debt service coverage ratios, property owners will be compelled to inject fresh capital which may require deal restructuring or an outright asset sale. During the latter half of this year, price discovery and value clarity will gain traction, transaction activity will increase, and hotels will remain a darling asset class, particularly during a sticky inflation environment.

The full presentation can be downloaded here.


2024 LIIC Top Ten

Michael Cahill, CEO and Founder of Hospitality Real Estate Counselors (HREC), continued the special presentations with the 2024 Lodging Industry Investment Counsel (LIIC) Top Ten which reveals the challenges and investment trends identified through an annual survey of LIIC members.

The survey’s goal was to find out where hotel investment is heading for the next 12 months. 70 hotel experts weighed in and reported their predictions in the LIIC Top Ten Survey.

As discussed in our blog about the presentation, this year’s LIIC identified and provided insight on ten elements affecting hotel investment. They are listed in reverse order of importance to the LIIC members.

  • Hotel Guestroom Demand
  • New Hotel Development
  • Where NOT to Buy a Hotel, and Where to Buy a Hotel
  • Hotel Buyers Struggling to Find Product
  • What Do Lodging Investors Want
  • Impact of Inflation
  • Impact of Hotel Debt
  • Hotel Cap Rates and Transactions Market
  • Greatest Four Threats to Your Hotel Investment
  • Hotel Property Investment

Click here to download the full presentation.


Meet the Money Special Presentations

Save the date for Meet the Money® 2025!

Next year’s Meet the Money® conference is set for May 5-7, 2025 in Los Angeles, and planning is already underway. Please save the date on your calendar.

About Meet the Money® 

For over 30 years, Meet the Money® has created an energetic environment to forge relationships, negotiate deals, and gain an in-depth understanding of hotel investment and finance. Our national hotel conference attracts heavy hitters and offers an opportunity for productive, one-on-one networking with them.

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This is Jim Butler, author of and founding partner of JMBM and JMBM’s Global Hospitality Group®. We provide business and legal advice to hotel owners, developers, independent operators, and investors. This advice covers critical hotel issues such as hotel purchase, sale, development, financing, franchise, management, ADA, and IP matters. We also have compelling experience in hotel litigation, union avoidance and union negotiations, and cybersecurity & data privacy.

JMBM’s Global Hospitality Group® has been involved in more than $125 billion of hotel transactions and more than 4,700 hotel properties located around the globe. Contact me at +1-310-201-3526 or to discuss how we can help.

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