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statistics. Industry overview. Key players. Digitalization. Construction outlook. The hotel sector has grown YoY over the past decade but how will it fare in the wake of COVID-19? For more...
Along with the average daily rate (ADR) of hotels in the U.S., other key hotel industry performance indicators include occupancy rate and revenue per available room (RevPAR). In 2022, the ...
The statistics below indicate just how impressive the current and future growth rates are. The hospitality industry experienced a remarkable growth from $4,390.59 billion in 2022 to $4,699.57 billion in 2023, achieving a compound annual growth rate (CAGR) of 7.0%.
Published: 7/23/2024. Statistic 1. Airbnb has over 7 million listings worldwide. Statistic 2. The revenue of the global vacation rental industry is expected to reach $94 billion by 2027. Statistic 3. Airbnb's revenue in 2020 was $4.7 billion. Statistic 4. The revenue of Airbnb experiences was $1.12 billion in 2019. Statistic 5.
2024 Global Hotels Outlook. Sector-Specific Tailwinds Should Offset Broader Economic Challenges. March 20, 2024 7 Minute Read. Download PDF. Executive Summary. U.S. After RevPAR rose to a record high in 2023, CBRE expects the U.S. to see another year of improvement in 2024.
State of the Hotel Industry report, released in January 2021, demonstrated just how resilient the hotel industry is and forecast what was ahead for hotel owners and operators, workers, and travelers.
Marriott had about 1.4 million guestrooms in 2020, over 400,000 more than runner-up Hilton Worldwide. The hotel and tourism industry typically accounts for about 10% of worldwide GDP. However, in 2020, when the COVID-19 pandemic hit, the hotel industry made up just 5.5% of global GDP.
In 2020, the hotel industry was on the brink of collapse.1 Nearly three years later, thanks to the resilience of hoteliers across the country, America’s hotels are poised to begin a new era in operations – one where challenges such as staffing shortages and economic factors including inflation and borrowing costs replace COVID as top concerns. .
Expert industry market research on the Global Hotels & Resorts (2014-2029). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.
Tourism & Hospitality. Hotels. Check In With These 25+ Hotel Industry Statistics. Want to know more about the inner workings of the hotel industry? Explore these hotel industry statistics! insights from 38,900+ hours of hospitality marketing experience.
Hotel industry statistics refer to data and metrics relating to hotels and other accommodations in the industry. Hotel statistics may include occupancy rates, revenue figures, guest statistics, cancellation rates, booking channel statistics and more.
The Report Covers US Hospitality Industry Trends, Overview and the Market is Segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid-Scale Hotels, and Luxury Hotels)
Published: 7/23/2024. Statistic 1. The average daily rate (ADR) of hotels worldwide was $107 in 2021. Statistic 2. The average daily rate (ADR) of luxury hotels worldwide was $296 in 2021. Statistic 3. The average length of hotel stays worldwide increased to 3.9 nights in 2021. Statistic 4.
A 50 bp increase in the unemployment rate over the past 12 months (3.4 percent in April 2023 vs. 3.9 percent in April 2024), now speculative reductions in policy rates, and a perceived lack of visibility in the public markets have resulted in downward pressure on room rates.
The market size of the hotel and resort sector worldwide peaked at 1.5 trillion U.S. dollars in 2023. This showed five percent growth over the previous year's figure of 1.43 trillion...
The State of Hotel Operations: 30 Must-Know Hotel Industry Statistics (2023) Here are the hotel industry statistics (2023) and hotel operations trends you need to know right now to help make informed decisions.
Here are the key statistics on the hotel industry: There are at least 187,000 hotels in the world as of 2023. There are an estimated 17.5 million guestrooms in the world. The global hospitality industry is worth over $4.548 trillion as of 2022. There are about 1.6 million people employed by the U.S.’s accommodation industry.
Hotel revenue is estimated to have fallen at a CAGR of 0.4% to $239.0 billion over the past five years, including 3.4% growth in 2024. Trends and Insights. Pent-up desire to travel skyrocketed demand for accommodations.
10 hospitality trends 2024 - Elevate experiences, embrace evolution. Workforce empowerment: Transforming challenges into opportunities. Artificial intelligence and technology: Choosing the best tech to revolutionize hospitality. Culinary experiences: Putting experiences, authenticity and the senses first.
This report presents a range of statistics and facts on the global hotel industry. It includes an overview chapter and information on key players, the construction pipeline, and...
SHARE. RALEIGH, N.C. (WNCN) — According to the Bureau of Labor Statistics (BLS), one in eight new jobs created in the next nine years will be in the leisure and hospitality industry. So between 2023 and 2033, the BLS projects in their report that the US economy will add around 822,700 new hospitality jobs. The increase is the third largest ...
1. Systemic Underinvestment in Technology: Normally, hoteliers spend on technology 2.5% - 2.75% of net room revenue, including payroll for IT personnel. Compare this to 15%-17% of revenue for ...
Premium Statistic Hotel and motel industry market size in Canada 2010-2022 Hotel and motel industry market size in Canada 2010-2022 Market size of the hotel and motel sector in Canada from 2010 to ...