Hospitality industry executives are feeling increasingly optimistic about the future, according to a survey conducted earlier this month. The Lodging Executives Sentiment Index, conducted monthly by LodgingForecast in Durham, N.H., to gauge the economic expectations of lodging executives, ticked up to 65 points from a reading of 61.3 points last month. Readings above 50 indicate that the lodging industry is expanding, and below 50 indicates an industry decline. Of the survey respondents, 87 percent forecast that "12 months from now, business conditions will be better."

Another survey conducted by LodgingForecast, called the Reservations Expectations Index, showed the same industry optimism about occupancy rates, with 93 percent of the respondents expecting guest room reservations to increase over the next 12 months. Respondents to both surveys represent more than 1.5 million guest rooms in the U.S. in all hotel market segments.