Supply growth is a more pressing concern in the minds of hotel asset managers than alternative-accommodations disruptors like Airbnb, according to members of the Hospitality Asset Managers Association, and that’s in large part to successes in the industrywide fight to better regulate that sector.

In HAMA’s recent membership survey, 52.2% of respondents said they expected supply growth to “negatively affect (their) portfolio’s results over the next three years.” The top concern there was labor costs (92.2%). Just 10% of respondents worried about the “expansion of Airbnb” and “growing market share of OTAs,” both of which have been commonly raised concerns by industry leaders in recent years.