Stump Reports on HD Expo 2023

Charlotte, NC, May 16, 2023-Analyst Stump & Co. reports on HD Expo, “Las Vegas delivered a huge win for the hospitality industry last week, with over 10,000 attendees at the Mandalay Bay Convention Center for the annual HD (Hospitality & Design) Expo. Following more than two years of Covid-interrupted lifestyles, with limited travel and hotel visits, the world is indeed traveling again with hotel occupancy surging. The major hospitality flags are now spending and up-fitting hotels. There is great excitement in this sector, which is a welcome trend following the gloom-and-doom of Covid years.

“With ocean container rates back to pre-Covid levels, many vendors are eager to source from Asia as costs can be more favorable than North American made goods. Though we heard from several new or expanded Mexico factories that are on-line, working well, and delivering cost-competitive goods. In the U.S., the remaining hospitality suppliers are wide open making upholstery and soft seating. So much domestic capacity was abandoned in the past few years due to business failures-or simply exiting the sector-that quite a bit of market share is now up for grabs.”