FAQs

Hospitality Global Market Report 2022 - By Type(Non-Residential Accommodation Services, Food And Beverage Services), By Ownership (Chained, Standalone) - Market Size, Trends, And Global Forecast 2022 – 2026

What is the definition of the hospitality market?

The hospitality market consists of sales of accommodation and food services and related goods by entities (organizations, sole traders or partnerships) that provide customers with lodging and/or prepare meals, snacks, and beverages for immediate consumption. The market covers both accommodation and food services because the two activities are often combined at the same establishment.

How will the hospitality market drivers and restraints affect hospitality market dynamics? What forces will shape the hospitality industry going forward?

The stable economic growth is expected to drive the market during the forecast period. However, some hospitality market restraints include the outbreak of Coronavirus disease (COVID-19) as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these establishments.

What is the forecast market size of the hospitality market?

The hospitality market forecast expects the market size to reach $6.72 trillion in 2026 at a rate of 10.2%.

How is the hospitality segmented?

The global hospitality market is segmented -
1) By Type: Non-Residential Accommodation Services, Food And Beverage Services 2) By Ownership: Chained, Standalone Subsegments Covered: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-Residential Accommodation, Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors

Which region has largest share, and what is the market size and growth by geography according to the hospitality global market report?

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Who are the key players of the global hospitality market?

Top competitors in the hospitality market are Compass group plc, Starbucks, Sodexo, Marriott International, Aramark corporation, McDonald's, Darden Restaurants, McDonald's, Darden Restaurants, Yum China Holdings Inc., Chipotle and Berkshire Hathaway Inc.

What are the key trends in the global hospitality market?

Major trends influencing the hospitality market include using technologies that are transforming the customer experience. Some technologies are leading to significant improvements and savings in the hospitality market. The most significant trends in this market are the use of near field communication (NFC) technology, infrared technologies, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for many other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and personalize the experience for guests

What are the major opportunities in the hospitality market and the approaches companies can take to take advantage of them?

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How does the hospitality market relate to the overall economy and other similar markets?

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