Steve Van of Prism Hotels & Resorts Van’ advises hotel owners not to ignore the economic outlook, but also not to waste “a ton of time or energy making big changes to your business strategy based on constantly shifting and notoriously unpredictable forecasts.”

DALLAS—Most everyone in the hotel business is pretty upbeat these days. The consensus is that the sustained growth we’ve seen recently is basically set to continue through at least the next six to 12 months. Constrained supply is good news, and one thing that’s constraining supply for the first time in a long time is some conservatism on the part of banks who are making loans.