Forecast 2012: Sarasota-Manatee

Mark Becker, Hyatt Regency Sarasota
Downtown Sarasota
Region: The job and housing outlooks are two areas Mark Becker constantly mines for data, and he worries about what he sees going into 2012. “Like everyone else, I'm concerned about the economy in the short-term,” says Becker. “You just can't have unemployment levels like this and be successful in any industry.” Still, Becker isn't convinced government's response to unemployment has helped make things much better. “I'm not sure the emphasis is on the right areas,” Becker says.

Industry: A challenge that still looms over the hospitality industry, says Becker, is the AIG effect, when companies scale back on conferences and events to avoid the perception of over-spending in a recession. Another industry-wide challenge, says Becker, one that started to creep up in 2010, is the reality that groups are booking events much closer to the actual dates. That leaves little room for marketing and other long-term sales initiatives. The Sarasota hospitality industry, meanwhile, will look to keep on plugging the top beach score it received earlier this year for Siesta Key Beach. Says Becker: “There is no doubt that the No. 1 beach ranking gave us a lift this summer.”

Business: Becker says the good news is 2011 has been a great year from an occupancy standpoint for the Hyatt. “It was actually one of the best years in our history,” says Becker. The not-so-good news, however, is room rates are still down somewhat from previous years. Becker projects leisure bookings will be up slightly in 2012, while corporate events will likely be flat. Those projections, he says, are closely connected to the larger economy. “We've got a lot of assets here,” says Becker. “Now we need to make sure the consumer has the financial wherewithal to come see us.”