Moxy and Motto. Autograph, Avid and Alila. Edition, Element and Even. Big hotel management companies have been acquiring or inventing new brands at a dizzying pace in the past several years.

But as the long bull market shows signs of fatigue, some industry analysts are starting to ask: What will become of all these upstart brands when the economy sours?

“The hotel industry historically has been very cyclical,” said Flo Lugli, principal of Navesink Advisory Group, a travel technology consulting firm. “It’s not a matter of if, it’s a matter of when the downturn will happen.”

The major hotel companies, including Marriott International, Hilton Worldwide Holdings, Hyatt Hotels Corporation and Wyndham Hotels & Resorts, have had all sorts of reasons to add brands, starting with the changing tastes of travelers, particularly younger ones, who no longer want the cookie-cutter sameness that was once the industry’s strong suit.