Arthur Adler, Managing Director and CEO - Americas
Things are starting to get better out there, and I look forward to convening with fellow leaders in the hospitality industry during the upcoming NYU International Hospitality Industry Investment Conference. The mood shrouding industry conferences in recent memory has been bleak, and I expect this conference to reflect a turning point for our industry.
As recently as three months ago, many of us were expecting RevPAR to mark a further marginal decline in 2010, but RevPAR has now posted positive growth for two consecutive months which is leading to a consensus that RevPAR will mark a slight rise this year—finally!
I believe that this improvement in recent operating data will have a huge impact on the sentiment at the conference. While we’re nowhere near a recovery from the drastic declines, positive growth has made a very welcome return and is already beginning to shape the actions of investors and operators. The volume of hotel transactions that we tracked in the U.S. has more than doubled so far this year compared to the same period last year.
We’re at a very interesting juncture and I eagerly await participating in discussions on today’s driving topics and industry trends during the conference. A number of my colleagues at Jones Lang LaSalle Hotels are participating on conference panels and will share their views on expanding brands internationally, the latest on which assets are moving and at what price, what is happening in the debt markets, a look at distressed asset trends, what is motivating buyers and sellers and what are some winning asset management strategies. Let’s face it; there are some huge opportunities out there.
I hope you’ll check back for more updates on this blog during the conference, and I invite you to comment on our posts. I look forward to seeing many of you over the coming days.
- Art
