The hotel and other travel accommodation industry provides short-term accommodation, meals and other guest services for travelers and tourists. Establishments in this industry may include hotels, other travel accommodations, resort hotels and others.
The top five companies covered are Marriott International, Hilton Worldwide, Wyndham Worldwide Corporation, Hyatt Hotels Corporation and Four Seasons Hotels & Resorts. Marriot International, Inc. was the largest company in the hotel and other travel accommodation market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Hotel and Other Travel Accommodation Global Market Size
The global hotel and other travel accommodation market was valued at above $855 billion in 2017. North America was the largest region in the hotel and other travel accommodation market in 2017, accounting for 36% market share. The USA was the largest country in the market in 2017, accounting for 30% market share.
Hotel and Other Travel Accommodation Global Market Trend
Mergers and acquisitions (M&A) in the hotel and other travel accommodation industry are expected to increase, building on a strong year of activity in 2015. M&A interest is likely to be fueled by the desire for growth, high volume of global capital, availability of debt and equity, and continued favorable interest rates. The hotel and other travel accommodation industry saw a series of deals in 2015, with Blackstone Group acquiring Strategic Hotels & Resorts, Jin Jiang acquiring Groupe du Louvre and many more.
Hotel and Other Travel Accommodation Global Market Segmentation
The hotel and other travel accommodation market is segmented into Hotel and Motel, Casino Hotels, Bed And Breakfast Accommodation and All Other Traveler Accommodation.
Hotels and Motels are establishments engaged in providing short-term lodging 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 and convention services, laundry services, parking, and other services.
Other Travel Accommodations provide lodging facilities to motorists along with ample parking space. They are situated on highways or near the outskirts of towns. These establishments may provide free breakfast services to their customers. Other travel accommodation prices are generally lower than hotels' due to their limited service offering.
Casino Hotels provide short-term lodging facilities with a casino on-premise. Casinos on the premises comprise table games, slot machines, betting and other gambling activities. These establishments also offer food and beverage services, valet parking, entertainment, swimming pools, and conference and convention facilities.
Bed And Breakfast establishments provide short term accommodation in private homes or small buildings. They also provide breakfast included in the room rate.
All Other Travel Accommodation includes small establishments such as guest houses, tourist homes and youth hostels which provide accommodation for short periods at relatively low prices.