Outlook for the US Hospitality Industry
The near-term outlook for the U.S. hospitality industry continues to improve according to the speakers at the 2015 NYU International Hospitality Industry Investment Conference. The over 2,300 attendees largely were optimistic for the industry for the rest of 2015 and 2016. Of crucial importance, the demand for tourism both short-term and long-term looks strong.
Within the business community, a revived stock market and robust corporate profits are having their long awaited effect of increasing corporate travel and meetings. Similarly, as U.S. consumers are feeling wealthier, luxury hotels and resorts are experiencing an uptick in demand for accommodations. Internationally, the streamlined U.S. visa policies and expansion of consumer classes in developing nations is expected to bring more travelers to the United States.
Although most experts are predicting a continued recovery for the industry, supply issues are worth keeping an eye on. With the exception of some outlying markets such as New York and Houston, in the near term supply should not be a concern. Although low interest rates have created favorable terms for debt financing, most new construction has been in the limited and select-service segments, which has not created major risks for most markets.
As the economy continues to improve, Xclusive recognizes the need for a reliable staffing partner to deal with unexpected rises and falls in occupancy. We look forward to servicing all our partners no matter what industry surprises lie ahead. For more information please see: http://www.hospitalitynet.org/news/4070897.html