Hotels & Motels in the US - Market Research Report

Room service: Extended-stay and boutique hotels will support revenue growth

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Hotels and Motels industry offers short-term lodging in hotels, motels and resorts. The need for hotels and motels relies heavily on domestic and international tourism levels, making them dependent on the overall economic environment. Travel trends were impacted by the 2020 pandemic, as travel restrictions mostly paused tourism in the United States, causing hotels and motels to be one of the hardest hit industries by the pandemic. Lifting travel regulations resulted in skyrocketing hotel revenue. However, rising inflation has pushed some consumers to reduce spending on leisure activities, causing revenue to slow down. Hotel revenue is estimated to expand at a CAGR of 0.3% to $239.2 billion over the past five years, including 16.4% growth in 2023. Operators in this industry provide short-term lodging in hotels, motor hotels (motels) and resort hotels. Operators may also offer food and beverage services, recreational services, conference room and convention services, laundry services, parking and other services. This industry excludes hotels that have casino facilities attached.