Global Hotel Industry 2023-2030

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    GLOBAL HOTEL INDUSTRY 

     

    INTRODUCTION

    The hotel business is one of the most significant components of the broader service industry, providing to clients that need overnight lodging. It is closely connected with the travel and hospitality industries, however there are significant distinctions in scope. This page will teach you more about the hotel business, its connections to other service industry sectors, and the many types of hotel and guest accommodations available.

     

    infographic: Hotel Industry Market, Hotel Industry Market Size, Hotel Industry Market Trends, Hotel Industry Market Forecast, Hotel Industry Market Risks, Hotel Industry Market Report, Hotel Industry Market Share

     

    A hotel, in broad terms, is a controlled building or institution that offers guests a place to stay overnight – on a short-term basis – in exchange for money. The exact amenities and services given to visitors might vary greatly from one hotel to the next, and hotel owners typically seek to target a specific sort of client through their pricing model and ing approach, or by the range of services they offer.

     

    The hotel business is the segment of the service sector that deals with visitor housing or accommodation. Most definitions of the hotel business include not only hotels, but also many other types of overnight lodging, such as hostels, motels, and inns. The hotel sector is exclusively concerned with the provision of lodging and related services to guests.

     

    The hospitality sector, on the other hand, is concerned with leisure in a broader sense. As a result, it includes lodging, restaurants, bars, cafés, nightlife, and a variety of travel and tourism services.

     

    GLOBAL HOTEL INDUSTRY  DYNAMICS

    The expansion of the travel and tourism sector, as well as shifting patterns in living standards, have resulted in progressive growth in the luxury hotel trends. The demand for luxury hotels varies by property type and is affected by factors such as location, size, and on-site amenities. Rising disposable income, the popularization of weekend culture, the advent of low-cost airline services, and a thriving service industry are all projected to propel the .

     

    Inflationary pressures on buying power and living standards are two of the primary factors driving people to luxury resorts. Hosting sporting events by a city or country is another important aspect.

     

    Among tourists, there is a rising trend of experiencing a luxurious lifestyle during vacations or holidays. They regard it as a very peaceful and refreshing holiday experience.

     

    This is growing popular among newlyweds and older adults, who describe their luxurious stay as a once-in-a-lifetime opportunity. It has been a tendency in the luxury hotel business to advertise their products while retaining their brand image; for this, numerous techniques and endorsements are used.

     

    The increasing tourism and hospitality industries are largely driving the industry. Furthermore, the working population’s rising demand for weekend vacations, as well as their shifting lifestyle habits, are pushing growth. Furthermore, the growing demand for staycations and weekend getaways in luxury hotels for remote working is boosting the global industry. In addition, increased social media penetration and cooperation between hotels and influencers are driving product demand.

     

    Over the projection period, the Asia Pacific area is expected to have the greatest growth rate. The European has grown in popularity as a result of government attempts to promote tourism in their country and local regions by raising awareness about architectural or historical value.

     

    People’s growing incomes in developing economies such as India, China, Thailand, Brazil, and South Africa are expected to fuel the global tourist sector, benefiting the entire business. Countries experiencing political upheaval, economic crises, and rigorous Foreign Direct Investment (FDI) rules are expected to see development stall or stop.

     

    GLOBAL HOTEL INDUSTRY DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 ITC Hotel to launch new luxury hotel brand Mementos across destinations ITC Hotel is set to launch a destination-led luxury brand called Mementos adding to its bouquet of five brands including the recently announced Storii. Mementos would be aimed at addressing the need for boutique luxury hotels across various destinations. Global Better Accessibility and Innovation

     

     

    GLOBAL HOTEL INDUSTRY SEGMENTATION

     

    The Global Hotel Industry can be segmented into following categories for further analysis.

     

    By Class Of Hotel Type

    • Luxury Class Hotels
    • Economic Class Hotels
    • Business Hotels
    • Suite Hotels
    • Resorts

     

    By Presence Classification Type

    • International Chain of Hotels
    • Domestic Chain of Hotels

     

    By Room of Usage Type

    • Luxury Rooms
    • Upper Class Rooms
    • Economical Class Rooms
    • Upscale Rooms

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region
    • Sweden

     

    RECENT TECHNOLOGICAL TRENDS IN GLOBAL HOTEL INDUSTRY

    The industry of hotels offer travellers and tourists a high-end lodging experience, including amenities such as discreet check-in and check-out, heated & fresh water swimming pool (many hotels offer private swimming pools), spa, fitness area, and others (including customised services) that set them apart from other ordinary hotels. The rise in demand for luxury stays as a result of changing consumer preferences and improvements in hotelier services fuels the expansion of the hotel sector.

     

    Aside from leveraging technology to better serve customers, hotels’ operational efficiency and ing capacities have improved. Operations software may enhance communication, reduce staff time, and potentially save the property money.

     

    The latest technology has been the integration of the new smart room. Aside from leveraging technology to better serve customers, hotels’ operational efficiency and ing capacities have improved. Operations software may enhance communication, reduce staff time, and potentially save the property money.

    Infographic: Global Hotel Industry Market, Global Hotel Industry Market Size, Global Hotel Industry Market Trends,  Global Hotel Industry Market Forecast,  Global Hotel Industry Market Risks, Global Hotel Industry Market Report, Global Hotel Industry Market Share

    As part of an integrated approach, the software solution requirements of IoT are being implemented within the Smart home automation systems. The Internet of Things (IoT) enables numerous devices to be connected to the internet and controlled by a single central source, such as a phone or tablet.

     

    Everything in a smart hotel room, digital key cards, and even voice-controlled customer service are examples of IoT applications. IoT enables visitors to effortlessly manage and customize everything in their accommodation. They are also beneficial in operations, owing to the fact that IoT functions as a smart hotel technology, utilizing data to identify and fix concerns before they become larger difficulties.

     

    COMPETITIVE LANDSCAPE

    S No Hotel Company Name Development
    1 S.A hotel International hotel company Accor S.A. is the owner of several popular hotel brands, including Novotel, Mercure, Pullman, Fairmont, and Raffles. Along with running a number of other hospitality companies, Accor is in charge of approximately 5,000 lodging establishments spread over more than 100 nations. It was regarded as the 12th best large workplace in the Bay Area of California, while being known for its diverse staff. 
    2 Hilton organization Around 62,000 individuals work for the Hilton organization worldwide. It is highly known for its top-notch training programs, generous benefits, flexible work schedules, long parental leave policies, and travel discounts. If anyone want to work in a big city or busy environment with lots to see and do, Hilton is a fantastic choice because many of its hotels are situated in well-known tourist areas.
    3 Kimpton Hotels and Restaurants One of the best hospitality employers is commonly cited as Kimpton Hotels and Restaurants. The hotel chain was named the 44th best company to work for in 2022 by Fortune 100 in honor of its commitment to its staff members and its commitment to diversity and flexibility.

    In addition to completely compensated sabbaticals and payment for college tuition, Kimpton employees also receive a number of benefits.

    4

    Hyatt Hotels & Resort

    With more than 1,000 locations spread across more than 70 countries, Hyatt primarily caters to the business and luxury markets, making it the perfect employer for those looking to work in or develop the skills necessary to provide a high level of hospitality. The business is frequently praised for its considerate work environment, flexible scheduling, training programs, mentorship, and a successful track record of internal promotions.
    5 Marriott  International hotel chain Marriott is renowned for providing excellent benefits to its staff, including assistance from the TakeCare charity, which supports staff members who are ill, injured, or recently gave birth. As part of its commitment to recruiting veterans, the company hired over 1,000 of them and offers tools and resources to help them match their abilities with open positions. Additionally, Marriott offers working families a number of benefits, such as competitive parental and adoption leave and a favorable work/life balance.
    6 IHG Hotels and Resorts  IHG Hotels and Resorts provides a wealth of opportunities for ambitious leisure sector professionals with more than 6,000 hotels in more than 100 countries. The company prides itself on being a people-centric business with a genuinely inclusive, diverse, and collaborative culture, and it has more than 325,000 employees worldwide. 
    7 Jin Jiang International Several hotel chains and independent hotels are run by the Chinese government-owned hotel company Jin Jiang International. It also owns a number of well-known European brands, including Golden Tulip and Royal Tulip. Workers in the hospitality industry and associated disciplines are constantly in demand due to the presence of more than 10,000 hotels in more than 100 nations.

    The rise in the travel and tourism sector, an increase in the demand for leisure travel, and an improvement in the level of living are the primary forces fueling the expansion of the luxury hotel . However, an increase in hotel prices is likely to stifle industry development.

     

    In the future years, the emergence of new luxury hotels is expected to open up new economic prospects for the sector. In 2020, the movement toward digital and contactless services gained traction.

     

    Customer-facing services are being redesigned as a result of the increased usage of technology-assisted alternatives such as mobile check-in, contactless payments, voice control, and biometrics.

     

    Marriott International Inc. is one of the leading international hotels chain operating on a global scale of which covers in most of the important tourism destinations on the planet. In its most recent initiative, With a long-term partnership with Sunwing Travel Group’s hotel division, Blue Diamond Resorts, Marriott’s All-Inclusive portfolio is expanding.

     

    By adding 19 franchised resorts across six countries and more than tripling the company’s footprint in the all-inclusive sector to 33 properties by 2025, the deal is anticipated to catapult Marriott into the top ten worldwide all-inclusive players. The chain has been operating a total of 8,000 approx. International footprint based on the resorts and premium hotel requirements.

     

    Hyatt Hotel is part of the digitization procedures and implementation in the hospitality and hotel industries on global scale of operations. The technology has an integrated approach towards the guest and customer satisfaction.

     

    The guests may browse hotel information for over 700 hotels and resorts in eight different languages with the World of Hyatt app. The app includes information about hotel facilities, maps, pictures, weather, activities, restaurants, rooms, special deals, and room rates in 57 currencies.

     

    Guests may also use World of Hyatt reward points, book points plus cash awards, book award nights, and use corporate and discount coupons while making a reservation. Hyatt Hotels has also initiated a VR based experience. The VR is also part of the latest digitization process which brings in better levels of display requirements.

     

     

    Sl no Topic
    1 Scope of the Report
    2 Market Segmentation
    3 Research Methodology
    4 Executive summary
    5 Introduction
    6 Growth in number of domestic travelers in Global
    7 Foreign Tourist Arrivals and impact on Global Hotel IndGlobaltry
    8 Global Hotels: Establishments by Hotel Category
    9 Total Room Revenue by Hotel Category & CGlobaltomer Type
    10 Total Revenue by Hotel Category & CGlobaltomer Type
    11 Guests by Hotel Category & CGlobaltomer Type
    12 IndGlobaltry Trends: The rise of co-working spaces and one day domestic trips
    13 Popular price point among travellers from major cities
    14 New hotel launches in 2022 and planned launches in 2023-2024
    15 Top 10 highest ADR, OCC and RevPAR cities in Global- 2022
    16 GDP AND EXCHANGE RATE FACTORS ON TOURISM DEMAND
    17 Top 10 Globalan cities for Hotel Investments-2022
    18 Market restraints
    19 COVID impact on Hotel IndGlobaltry in Global
    20 Market Size, Dynamics And Forecast By Hotel Type, 2023-2030($M)
    21 Market Size, Dynamics And Forecast By Region, 2023-2030($M)
    22 Market Size, Dynamics And Forecast By Destination type, 2023-2030($M)
    23 Competitive Landscape
    24 Market share of major companies-2023
    25 Profitability analysis of major players
    26 Top Global Hotel Chains 2022
    27 Growth and expansion strategies of major hotel chains in Global
    28 Key Strategic Move: Partnerships, Collaborations and Agreements of Major Players
    29 Pipeline projects in major Global countries
    30 Inventory analysis of major companies
    31 Company Profiles
    32 Unmet needs and Market Opportunity for Vendors
    33 ConclGlobalion
       
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