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Economic Indicator Study of Hospitality Purchasers. Prepared for: The International Society of Hospitality Purchasers. www.ishp.org. Prepared by: The VNU Business Publications Research Center. April 2003. Background and Methodology.
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Economic Indicator Study of Hospitality Purchasers Prepared for: The International Society of Hospitality Purchasers www.ishp.org Prepared by: The VNU Business Publications Research Center April 2003
Background and Methodology This study was conducted by the VNU Business Publications Research Center for the ISHP and sponsored by Hospitality Design magazine. The study was designed to gauge the economic conditions in the hospitality industry among ISHP Members. Twenty six (26) members of the ISHP were interviewed in March 2003.
62%of their hotel business included restaurants. 99%of their hotel business was in North America.
62% of respondents reported that the number of resources (vendors) they are working with has INCREASED 31% said the number is DECREASING 8% said the number is UNCHANGED
On average, 28% of current projects are utilizing design firms with which the respondents had not previously worked.
On average, one project that started before the economic downturn a year and a half ago was cancelled while two are still on hold.
Summary • 75% of the work is in mid-scale with F&B and above • Mostly located in the Southwest and Northeast • Mostly owner initiated renovations of branded hotels • Almost all the product coming from the US and Canada • We are experiencing longer product lead times • Larger product deposit requirements • Combined with shorter project schedules at a lower budget of items that wear out faster. www.ishp.org