(Alexandria) –The Pool & Hot Tub Alliance, the trade association that represents the swimming pool and hot tub industry, has released the first in a series Quarterly Pulse reports. The results were derived from PHTA’s quarterly industry survey, which captures executives’ opinions about the performance of their companies compared to the previous quarters. It also gives a glimpse into how they expect their company to perform in the next quarter. The report indicates a steady growth in the first half 2023, and a positive outlook for 2024.
PHTA combined the Q1-Q2 Pulse Surveys to launch the research program, and measure sentiment and performance over time in the hot tub and pool industry. PHTA members understood the importance of the data and over 200 companies across all sectors participated, including build, retail service, maintenance and hot tubs in all regions.
This week, the PHTA released its first Quarterly Pulse Report. Both members and non-members of the PHTA revealed that, when comparing revenue between the second quarters of 2022 and 2023, 48% of companies reported an increase. 19% saw significant growth of 10% or higher. In contrast, 34% of companies saw revenue declines while 18% were largely unchanged.
In the meantime, 86% pool and spa companies increased or maintained staff to meet the soaring client demand that arose during the pandemic.
Charlie Claffey of Claffey Pools, Southlake, TX, PHTA Chairman and President of the Board, says: “The numbers from our first Quarterly Pulse Report confirm what we’ve heard anecdotally, that the demand for swimming pools has slowed down since the pandemic. However, business appears to be returning back to its usual cyclical patterns.” “Rather than a trend that is negative, we view this as the end of a unique event — the pandemic — and we expect performance to be back to normal. We are happy to share this valuable insight with our members and industry. We are grateful to each of our members who participated and continue to encourage increased participation in the Quarterly Pulse Surveys.”
The economy has slowed down, and the backlog for construction of new pools and spas has decreased. The revenue generated by remodels has increased for 59% pool and spa companies. 31% of the respondents have seen revenue growth of over 6% in second quarter 2023. In the second quarter of 2023, revenue from remodels increased for 59% of pool and spa companies. 31% saw revenue growth above 6%.
In addition, 71% of the service companies also reported a rise in calls. Another 24% were largely unchanged.
The outlook for pool companies and spas over the next year is positive, as 68% of respondents expect revenue to remain the same or even increase. Respondents are most concerned about the economy including inflation, interest rates and other factors, as well as the ability to hire and retain staff.
The Pool & Hot Tub Alliance conducts the Quarterly Pulse Survey in the third quarter 2023. The survey is open for all professionals working in the hot tub, build, retail, services, maintenance and service industries. PHTA anticipates Q3 results to be available by the end November 2023. For more information and to receive a custom benchmark report by October 31, visit phtainsights.com.
If you would like more information about PHTA, please visit our PHTA research center. You can also contact Amy Willer PHTA’s Associate Director of Marketing and Communications at [email protected]. 121.
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