Global Hotel And Other Travel Accommodation Market Trends And Strategies Of Major Players In The Hotel And Other Travel Accommodation Market 2021-2030

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 may offer food and beverage services, recreational services, conference rooms, convention services, laundry services, parking, and other services.

Global Hotel And Other Travel Accommodation Market Size And Drivers:

The global hotel and other travel accommodation market is expected to grow from $673.02 billion in 2020 to $801.9 billion in 2021 at a compound annual growth rate (CAGR) of 19.1%. The market is expected to reach $1.05 trillion in 2025 at a CAGR of 7%. Increasing use of social media and access to mass media is positively impacting the tourism and hotel industries. This 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.

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Trends In The Global Hotel And Other Travel Accommodation Market

Hotels are 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.

Global Hotel And Other Travel Accommodation Market Segments:
The global hotel and other travel accommodation market is further segmented based on type, mode of booking, application, price point, ownership and geography.
By Type:Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveler Accommodation.
By Mode of Booking:Online Bookings, Direct Bookings, Others.
By Application:Tourist Accommodation (Leisure), Official Business (Professional).
By Price Point:Tourist Accommodation (Leisure), Official Business (Professional).
By Ownership:Chained, Standalone.
By Geography:The global hotel and other travel accommodation market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global hotel and other travel accommodation market, accounting for 37% of the total market.

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Hotel And Other Travel Accommodation Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hotel and other travel accommodation market overviews, analyzes and forecasts market size and growth for the global hotel and other travel accommodation market, hotel and other travel accommodation market share, hotel and other travel accommodation market players, hotel and other travel accommodation market segments and geographies, hotel and other travel accommodation market’s leading competitors’ revenues, profiles and market shares. The hotel and other travel accommodation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.