According to The Hollywood Reporter, MGM is in very early talks with Rob Corddry, Craig Robinson, and Clark Duke to come back to their roles for a Hot Tub Time Machine sequel. The director from the original, Steve Pink, is also in talks to return, and there is a possibility that he would write the script along with Corddry. As of now, John Cusack, who starred in the original, is not involved in any of these talks.
Though the movie only grossed $50 million on a $36 million budget, Hot Tub Time Machine was a hit on home video, and with more of an emphasis being put on DVD and Blu-ray business nowadays, that alone could warrant a sequel. The site is emphasizing that talks are in the very early stages, but if a deal does get done, the movie could be fast-tracked for release.