In this post, we have included an overview of the revenue and statistics of the global hotel industry. We have provided over a dozen key data and figures about the global hotel industry in this article.
The hotel industry has seen tremendous growth over the decades until it was hit hard by the Covid-19 pandemic in 2020. The hotel industry is an integral and indispensable part of the global hospitality and tourism industry.
The travel and tourism market is flooded with millions of new customers from all parts of the world; many of whom have access to disposable income and are willing to spend it exploring the world. The Hotel industry over the years has witnessed tremendous growth. Thanks to the large numbers of huge multi-billion companies that are opening their headquarters in various locations globally, the number of business travellers are expected to continue rising.
As companies in the hotel industry also focus on improving the customer experience, individual travel is also slated to be on the rise. Moreover, the demand for luxurious travel will also help to boost the hotel industry’s growth in the next years to come.
So, in a nutshell, the hotel industry is set to keep growing at a rapid pace in the years to come. Let’s come to a quick compilation of revenue and market statistics of the hotel industry.
Key Hotel Industry Statistics
So, here is a quick overview of the revenue this special industry generates.
- The biggest player of the hospitality industry in 2020 is the Wyndham Hotel group that manages close to 9000 hotels across the world.
- Wyndham hotel group is also the leading hotel chain in the USA with close to 7000 properties.
- Other top companies in the hotel industry in terms of the number are Marriott International and Hilton Worldwide with 6542 and 5402 hotel properties respectively across the globe.
- The Global Hotel Industry revenue in 2016/17 stood approximately at a staggering value of $550 Bn and it has seen an increase in 2018, 2019 and 2020.
- Total revenue of the hotel industry in the USA alone touched $200 Billion in 2018.
- Marriott International alone raked in over $ 20 Billion in 2018 in terms of revenue.
- Millennial is set to become the biggest consumer sectarian in the coming years.
- Travel and tourism industry is now over 10% worth of the Global GDP and the Hotel Industry accounts for half of that if clubbed with the Food & Beverage industry and alternate lodging.
- The Asia Pacific region in the last few years has recorded the maximum occupancy rate with the rates in the past couple of years staying above 70%.
- Highest Global Average revenue per room in 2018 and 2019 was recorded in the Middle East and Africa.
- Hilton Worldwide is currently the biggest hotel brand in terms of brand value with a valuation of around $7.4 Billion in 2019 as reported by Statista. Others in the list include Marriott and Hyatt.
- With around 1.3 million hotel rooms, Marriott International tops the list of hotel companies in 2019 with maximum guest rooms.
- Geneva in Switzerland was most expensive in terms of recorded average prices of hotel rooms in 2019.
- Hotel Industry alone is expected to sustain by growing at 6-7% in 2019 and beyond (This is set to fall by a huge margin in 2020 due to the Coronavirus pandemic that gripped the whole world in 2020).
For those who would like to explore more about the Hotel industry can visit our blog post on Hotel Industry Analysis and statistics. For a greater research and more statistics and detailed analysis, feel free to visit the resources pages of Statista and Deloitte mentioned in this post.
Here you go, a quick compilation of some useful statistics about the hotel industry. We have kept this post short and sweet to cover the most important facts and data. We have also provided resources for those who are keen to explore the details further.
So, discussing this special industry is certainly not a waste of time. Isn’t it? And, we have not included travel and tourism which heavily depend on this industry. Various other posts on this all hospitality portal cover more details about the hotels and the hospitality industry overall. So, please stay around!