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Hotel And Other Travel Accommodation Global Market Report 2022 - By Type (Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveler Accommodation), By Mode of Booking (Online Bookings, Direct Bookings), By Application (Tourist Accomodation (Leisure), Official Business (Professional)), By Price Point (Economy, Mid-Range, Luxury), By Ownership (Chained, Standalone) - Market Size, Trends, And Global Forecast 2022 – 2026

What is the definition of the hotel and other travel accommodation market?

The hotel and other travel accommodation market consists of sales of short-term lodging services and related goods in facilities known as hotels, motor hotels, resort hotels, and motels by entities (organizations, sole traders or partnerships) that provide short-term lodging services and related goods in facilities known as hotels, motor hotels, resort hotels, and motels. The establishments in this industry offer food and beverage services, recreational services, conference rooms, convention services, laundry services, parking, and other services.

How will the hotel and other travel accommodation market drivers and restraints affect hotel and other travel accommodation market dynamics? What forces will shape the hotel and other travel accommodation industry going forward?

The rising awareness is resulting in large number of people travelling abroad and is expected to drive growth in the hotel and other travel accommodation industry during the forecast period. However, some hotel and other travel accommodation market restraints include 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 hotel and other travel accommodation market?

The hotel and other travel accommodation market forecast expects the market size to reach $1.35 trillion in 2026 at a rate of 14.5%.

How is the hotel and other travel accommodation segmented?

The global hotel and other travel accommodation market is segmented -
1) By Type: Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveler Accommodation 2) By Mode of Booking: Online Bookings, Direct Bookings, Others 3) By Application: Tourist Accomodation (Leisure), Official Business (Professional) 4) By Price Point: Economy, Mid-Range, Luxury 5) By Ownership: Chained, Standalone

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

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Who are the key players of the global hotel and other travel accommodation market?

Top competitors in the hotel and other travel accommodation market are Marriott International, MGM Resorts International, Rewe Group, Ctrip.Com International Ltd, Intercontinental, Hilton Worldwide Holdings, Accor Hotels, TUI Group, Shanghai Jin Jiang International Hotels (Group) Company Limited.

What are the key trends in the global hotel and other travel accommodation market?

Major trends influencing the hotel and other travel accommodation market include using technologies that are transforming customer experiences. Some technologies are leading to great improvements and savings to the hotel and other travel accommodation market. The most significant trend in the accommodation industry is 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 other functional purposes. Hotel operators are investing in systems and technologies that can automate processes, cut costs and personalize the experience for guests.

What are the major opportunities in the hotel and other travel accommodation market and the approaches companies can take to take advantage of them?

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How does the hotel and other travel accommodation market relate to the overall economy and other similar markets?

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