Optimism revealed from survey results
Andy Slater- 4 hours ago
Results released by the Pool & Hot Tub Alliance from the Quarterly Pulse Survey for Q4 2024 have revealed a very optimistic point of view among builders, retailers, and service professionals.
The Pool & Hot Tub Alliance (PHTA) Pulse Survey for Q4 2024 reveals a resilient industry navigating economic challenges with retailers reporting a slight increase in total revenue, while maintaining stable employee numbers. Retailers also anticipate a 4.9 per cent revenue growth over the next 12 months compared to the past 12 months.
While some sectors faced declines, others demonstrated growth, highlighting the diverse nature of the pool, spa, and hot tub market. With a positive outlook in January, the PHTA will now be seeking feedback to evaluate if this trend is continuing from the results within the next Quarterly Pulse Survey for Q1 2025, when participation for the next survey opens in April.
Over 300 respondents participated in the latest survey between January 15 and February 7. During this time, respondents revealed that they anticipated a 5.4 per cent growth in revenue over the next 12 months compared to the past 12 months. The PHTA believes this underscores the resilience and growth potential of the industry, while highlighting the industry’s ability to adapt to economic challenges.
As part of the latest results, key challenges faced by businesses included economic factors, maintaining profitability, and recruiting and retaining skilled employees. However, despite these challenges, 70 per cent of companies reported feeling well-positioned to adapt and thrive in the face of industry disruptions or changes. Additionally, 78 per cent of companies anticipate revenue growth over the next 12 months, indicating a positive outlook for the industry’s future.
Despite economic turmoil, revenue from new pools and pools/spas remained relatively stable, with 34 per cent of companies reporting an increase and 35 per cent of companies reporting a decrease compared to Q4 2023. This, according to the PHTA, suggests continued consumer demand for new pool installations, even in the face of inflation and rising interest rates.
The remodelling sector demonstrated stronger performance, with 49 per cent of companies reporting an increase in revenue from these jobs compared to only 19 per cent reporting a decline. The PHTA believes this indicates that homeowners are investing in upgrading their existing pools, potentially opting for the more affordable renovation options over a new build.
Results for portable hot tubs and swim spas have revealed that 38 per cent of the sector experienced increases in revenue, indicating a positive trend for the sector that had been experiencing a downturn during 2023. According to the PHTA survey, the sector is predicting revenue increases of 4.9 per cent over the next 12 months compared to the past 12 months.
Positive feedback also indicates that the maintenance and service sector remains strong, with 58 per cent of service companies experiencing an increase in revenue on average of 3.1 per cent for the fourth quarter.
This, according to the PHTA, highlights the essential nature of these services in maintaining pool functionality and safety. The sector is among the strongest growth opportunities, predicting revenue increases of 5.7 per cent over the next 12 months compared to the past 12 months. The PHTA believes that the combination of homeowners returning to the office five days a week will only enhance the trend to outsource service and maintenance work to service professionals.
Meanwhile, the PHTA has announced the appointment of a new Chair and four new Voting Members to the PHTA Standards Consensus Committee (SCC). The SCC is PHTA’s official consensus voting body, responsible for reviewing and voting on all pool, spa, and hot tub standards to be approved by the American National Standards Institute (ANSI). Members of the SCC are classified into one of four interest categories: Producer, User-Government, User-Consumer, or General Interest.
Bruce Carney, who is owner of American Pools & Spas in Cabo San Lucas, is stepping up from Vice Chair to become the new Chair of the SCC. The SCC’s four new voting members are: Amrit Singh Gill, who is Manager of Facility Support Services, FAM Design Team at Walt Disney World in Orlando, where he operates and maintains more than 160 recreational bodies of water; Frank Goldstein, who is President of Chesapeake Aquatic Consultants, LLC; Jennifer Huang, who is Senior Technical Regulatory Consultant for ApothaQuali Solutions LLC; and Ashley Hofferber McKay, who is Aquatics Recreation Supervisor with the City of Plano in Plano, where she maintains multiple aquatic facilities.
“It has been an honour to work with PHTA staff and members of the SCC these past few years, first as the Vice Chair and now as the Chair,” divulged Bruce.
“To have so much expertise and experience in one group is truly amazing, and adding the new members should provide fresh viewpoints to many discussions.
“In the next few years, the SCC will be responsible for approving several very important standards. We are also taking on the new concept of ‘continuous maintenance’ on several standards, which will allow quicker updates as changes in information and technology occur.
“I look forward to the challenges we will have and feel comfortable that we will be a big part of providing a safer experience for all aquatic users.”
