Hospitality

Global Hotel And Other Travel Accommodation Market Outlook, Opportunities And Strategies

December 16, 2021December 16, 2021 by The Business Research Company

Learn about the global hotel and other travel accommodation market through The Business Research Company, which provides information on hotel and other travel accommodation market size, hotel and other travel accommodation market drivers and restraints, hotel and other travel accommodation market players, the COVID-19 impact on the hotel and other travel accommodation market, and more.

Our annual holiday sale is here! Get your discounted market research reports today.

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 growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1052.84 billion in 2025 at a CAGR of 7%.

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.

Request A Sample For The Global Hotel And Other Travel Accommodation Market Report:

https://www.thebusinessresearchcompany.com/sample.aspx?id=2198&type=smp

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 segments include:

By Type: Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveller Accommodation

By Mode of Booking: Online Bookings, Direct Bookings, Others

By Application: Tourist Accommodation (Leisure), Official Business (Professional)

By Price Point: Economy, Mid-Range, Luxury

By Ownership: Chained, Standalone

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global hotel and other travel accommodation market, accounting for 37% of the market in 2020.

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. 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.

TBRC’s hotel and other travel accommodation market report covers:

Major Market Players: Marriott International, Hilton Worldwide, Wyndham Corporation, Hyatt Hotels Corporation, Four Seasons Hotels & Resorts.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Hotel And Other Travel Accommodation Global Market Report 2021: COVID-19 Impact and Recovery to 2030 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, share, hotel and other travel accommodation market players, hotel and other travel accommodation market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s hotel and other travel accommodation market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Students And Workers Non-Residential Accommodation Global Market Report 2021

Non-Residential Accommodation Services Global Market Report 2021

Travel Arrangement And Reservation Services Global Market Report 2021

Interested To Know More About The Business Research Company?

The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 8897263534

Americas: +1 315 623 0293

Email: info@tbrc.info

Check out our Blog: https://blog.tbrc.info/

Check out our Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model