November 16, 2018

Hospitality industry executives look ahead to 2019


There are headwinds ahead for some hotel brand companies and real estate investment trusts, but the overall tone on calls in regards to next year was positive.

Arne Sorenson, president and CEO, Marriott International said:

“As we consider our 2019 outlook, we note that group revenue on the books in North America for comp hotels in both 2018 and 2019 are modestly higher consistent with constrained meeting space capacity. Our sales organization is doing a great job.

“We are negotiating 2019 special corporate rates with our largest corporate clients right now. And while only a few negotiations are complete, we expect 2019 special corporate rates for comparable accounts in North America to rise at a low single-digit rate.

“Given all this, we expect RevPAR in North America will increase 1% to 3% in 2019, which reflects our continued steady-as-she-goes view of lodging demand.”

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