TORONTO-Lyle Hall of HLT Advisory and Bill Stone of CBRE Hotels unveiled their delegate survey of hotel owners, managers, developers, lenders, architects and consultants, at the opening session of the Canadian Hotel Investment Conference (CHIC) May 26.
While 21.5 per cent of respondents felt the recovery was visible now, 11.8 per cent felt it was tentative at best. Eleven per cent anticipated a third quarter 2010 recovery, while 10.5 voted for fourth quarter 2010, 15.8 for first half of 2011 and just 6.1 per cent for the second half of 2011.
When asked what hotel sellers could expect to get for their hotels in the last half of 2010, just over half estimated the value to be plus-or-minus 10 per cent of 2009 values.
Almost half, 48.9 per cent, anticipated occupancy increases in 2010 over 2009; 28.1 expected no change and 11.0 per cent thought that occupancy would decrease this year.
That optimism extended to ADR, with 33.0 per cent expecting an increase, 36.8 stable ADR, and just 18.5 per cent a decline.
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