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Hospitality Global Market Report 2024

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    Report

  • 500 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5781141
The hospitality market size has grown strongly in recent years. It will grow from $4673.63 billion in 2023 to $4993.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historic period can be attributed to the expansion of travel and tourism, cultural and social transformations, global events including pandemics, and increased investment in infrastructure.

The hospitality market size is expected to see strong growth in the next few years. It will grow to $6189.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. Forecasted growth is driven by sustainability, wellness tourism, flexible bookings, community collaboration, and health standards. Key trends include AI personalization, contactless tech, technological advancements, personalized guest experiences, and enhanced digital marketing with social media influence.

The growth trajectory of the hospitality market is strongly influenced by the anticipated stability in economic growth across various developed and developing countries. This trend is exemplified by the economic data reported by the US-based Bureau of Economic Analysis in September 2023, revealing a 2.1% annual increase in the real gross domestic product (GDP) during the second quarter of the same year. The recovery of commodity prices, following a notable decline in the historical period, is poised to further bolster market expansion. Developed economies are positioned to exhibit consistent growth, while emerging markets are anticipated to outpace their developed counterparts slightly. The overall projection is that sustained economic stability will serve as a driving force for the hospitality market throughout the forecast period.

The hospitality market is set to experience substantial growth, propelled by the expanding tourism industry. The tourism sector encompasses a wide range of economic activities and services related to travel and leisure. Within this context, hospitality assumes a pivotal role by providing accommodation, dining, and services that enrich the travel experience and create welcoming destinations. Notably, data from the Spain-based World Tourism Organization in May 2023 indicates that international tourism reached a significant milestone, surpassing the $1 trillion mark in 2022, marking a 50% real-term growth compared to the previous year. Moreover, the first quarter of 2023 witnessed a remarkable surge, with an estimated 235 million international tourists, more than double the figures recorded in the corresponding period of 2022. As a result, the thriving tourism industry emerges as a key driver fostering the growth of the hospitality market.

The hospitality market faced substantial challenges in 2020 due to the outbreak of the COVID-19 disease, leading to widespread restrictions on domestic and international travel imposed by governments worldwide. These measures significantly reduced the demand for services provided by hospitality establishments. COVID-19, characterized by flu-such as symptoms such as fever, cough, and respiratory difficulties, was initially identified in Wuhan, Hubei province, China, in 2019, subsequently spreading globally to regions including Western Europe, North America, and Asia. National governments responded to the crisis by implementing containment measures, including lockdowns, resulting in a marked decline in economic activity. The adverse effects of the pandemic continued to impact businesses throughout 2020 and extended into 2021. Despite the challenges posed by the unprecedented circumstances of the COVID-19 outbreak, the hospitality market is anticipated to recover over the forecast period. This downturn is regarded as a 'black swan' event, representing an unforeseen and rare occurrence, rather than being indicative of inherent weaknesses in the market or the global economy. The expectation is that as the effects of the pandemic wane and restrictions are lifted, the hospitality sector will gradually rebound from the shock experienced during this extraordinary event.

The hospitality industry is undergoing a transformative phase with the integration of cutting-edge technologies that significantly enhance the customer experience while driving improvements and cost savings. Notable advancements in this sector include the adoption of near field communication (NFC) technology, infrared technologies, and the deployment of robots. NFC technology facilitates seamless data exchange between devices, facilitating instant and secure mobile payments. Infrared sensors find application in addressing customer complaints related to housekeeping disruptions, ensuring a smoother and more comfortable stay. Hotels are increasingly leveraging robots for tasks such as delivering amenities to guest rooms and performing various functional roles. Consequently, hotel operators are strategically investing in automated systems and technologies to streamline processes and tailor experiences for their guests.

Leading companies in the hospitality market are intensifying their focus on incorporating customization features to maintain their competitive edge. Customization features empower users to personalize their experiences within a product, service, or system based on individual preferences and needs. A case in point is the initiative undertaken by HotelPort, a US-based software company, in July 2023. HotelPort launched Hospitality Software Development and Platform Integration Services, designed to assist hotels of all sizes in optimizing operations, streamlining workflows, and elevating guest experiences. Through the integration of existing hotel systems, HotelPort's platform integration services create a unified and efficient operational framework. This not only simplifies guest processes such as room booking, check-in/out, and access to services but also contributes to an overall enhanced guest experience. Furthermore, HotelPort's services play a pivotal role in increasing hotel revenue by improving online visibility and simplifying the booking process.

Major companies operating in the hospitality market report are Compass group Holdings plc; Starbucks Corporation; Sodexo SA; Marriott International Inc.; Aramark corporation; McDonald's Corporation; Four Seasons Hotels and Resorts Limited; Darden Restaurants Inc.; Yum China Holdings Inc.; Hilton Worldwide Holdings Inc.; Chipotle Mexican Grill Inc.; InterContinental Hotel Group plc; IDeaS Revenue Solutions Inc.; The Ritz-Carlton Hotel Company LLC; Mandarin Oriental Hotel Group Ltd.; Radisson Hotel Group AB; Extended Stay America Inc.; AIR Communities LLC; Rosewood Hotel Group LLC; La Quinta Inns & Suites Holdings Inc.; Apple Leisure Group LLC; Evolve Vacation Rental Network Inc.; Shangri-La Hotels and Resorts Ltd.; American Cruise Lines Inc.; Ennismore Lifestyle Group Limited; Hotel Engine Inc.; OTA Insight Limited; Red Lion Hotels Corporation; Mint House Holdings Inc.; Wonders Legal Inc.; BentoBox Media Inc.; Berkshire Hathaway Inc.

Asia-Pacific was the largest region in the hospitality market in 2023. North America was the second largest region in the hospitality market. The regions covered in the hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hospitality market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The main types of hospitality are non-residential accommodation services, food and beverage services. The non-residential accommodation services provide lodging or short-term accommodation for travelers, vacationers, and others. The different ownerships include chained and standalone.


The hospitality market research report is one of a series of new reports that provides hospitality market statistics, including hospitality industry global market size, regional shares, competitors with hospitality market share, detailed Hospitality market segments, market trends, and opportunities, and any further data you may need to thrive in the hospitality industry. This hospitality market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The hospitality market includes revenues earned by entities by providing accommodation and food services such as lodging and/or preparing meals, snacks, and beverages for immediate consumption. The market covers both accommodation and food services because the two activities are often combined at the same establishment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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Table of Contents

1. Executive Summary2. Hospitality Market Characteristics
3. Hospitality Product/Service Analysis -Product/Service Examples
3.1. Hospitality Supply Chain Analysis
3.1.1. Hospitality Resources
3.1.2. Hospitality Manufacturers
3.1.3. Hospitality Distributors and Retailers
3.1.4. Hospitality End Users
3.2. Hospitality Customer Information
4. Hospitality Market Trends and Strategies
5. Hospitality Market - Macro Economic Scenario
5.1. Impact of High Inflation on the Market
5.2. Ukraine-Russia War Impact on the Market
5.3. COVID-19 Impact on the Market
6. Global Hospitality Market Size and Growth
6.1. Global Hospitality Market Drivers and Restraints
6.1.1. Drivers of the Market
6.1.2. Restraints of the Market
6.2. Global Hospitality Historic Market Size and Growth, 2018-2023, Value ($ Billion)
6.3. Global Hospitality Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
7. Hospitality Market Segmentation
7.1. Global Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Non-Residential Accommodation Services
  • Food and Beverage Services
7.2. Global Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Chained
  • Standalone
8. Hospitality Market Regional and Country Analysis
8.1. Global Hospitality Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.2. Global Hospitality Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. Asia-Pacific Hospitality Market
9.1. Asia-Pacific Hospitality Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
9.2. Asia-Pacific Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9.3. Asia-Pacific Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10. China Hospitality Market
10.1. China Hospitality Market Overview
10.2. China Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10.3. China Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
11. India Hospitality Market
11.1. India Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. India Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Japan Hospitality Market
12.1. Japan Hospitality Market Overview
12.2. Japan Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Japan Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Australia Hospitality Market
13.1. Australia Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Australia Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. Indonesia Hospitality Market
14.1. Indonesia Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. Indonesia Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. South Korea Hospitality Market
15.1. South Korea Hospitality Market Overview
15.2. South Korea Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. South Korea Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. Bangladesh Hospitality Market
16.1. Bangladesh, Hospitality Historic Market, 2018-2023, $ Billion
16.2. Bangladesh, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
17. Thailand Hospitality Market
17.1. Thailand, Hospitality Historic Market, 2018-2023, $ Billion
17.2. Thailand, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
18. Vietnam Hospitality Market
18.1. Vietnam, Hospitality Historic Market, 2018-2023, $ Billion
18.2. Vietnam, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
19. Malaysia Hospitality Market
19.1. Malaysia, Hospitality Historic Market, 2018-2023, $ Billion
19.2. Malaysia, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
20. Singapore Hospitality Market
20.1. Singapore, Hospitality Historic Market, 2018-2023, $ Billion
20.2. Singapore, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
21. Philippines Hospitality Market
21.1. Philippines, Hospitality Historic Market, 2018-2023, $ Billion
21.2. Philippines, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
22. Hong Kong Hospitality Market
22.1. Hong Kong, Hospitality Historic Market, 2018-2023, $ Billion
22.2. Hong Kong, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
23. New Zealand Hospitality Market
23.1. New Zealand, Hospitality Historic Market, 2018-2023, $ Billion
23.2. New Zealand, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
24. Western Europe Hospitality Market
24.1. Western Europe Hospitality Market Overview
24.2. Western Europe Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. Western Europe Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. UK Hospitality Market
25.1. UK Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.2. UK Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. Germany Hospitality Market
26.1. Germany Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.2. Germany Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. France Hospitality Market
27.1. France Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. France Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Italy Hospitality Market
28.1. Italy Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.2. Italy Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Spain Hospitality Market
29.1. Spain Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.2. Spain Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Austria Hospitality Market
30.1. Austria, Hospitality Historic Market, 2018-2023, $ Billion
30.2. Austria, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
31. Belgium Hospitality Market
31.1. Belgium, Hospitality Historic Market, 2018-2023, $ Billion
31.2. Belgium, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
32. Denmark Hospitality Market
32.1. Denmark, Hospitality Historic Market, 2018-2023, $ Billion
32.2. Denmark, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
33. Finland Hospitality Market
33.1. Finland, Hospitality Historic Market, 2018-2023, $ Billion
33.2. Finland, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
34. Ireland Hospitality Market
34.1. Ireland, Hospitality Historic Market, 2018-2023, $ Billion
34.2. Ireland, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
35. Netherlands Hospitality Market
35.1. Netherlands, Hospitality Historic Market, 2018-2023, $ Billion
35.2. Netherlands, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
36. Norway Hospitality Market
36.1. Norway, Hospitality Historic Market, 2018-2023, $ Billion
36.2. Norway, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
37. Portugal Hospitality Market
37.1. Portugal, Hospitality Historic Market, 2018-2023, $ Billion
37.2. Portugal, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
38. Sweden Hospitality Market
38.1. Sweden, Hospitality Historic Market, 2018-2023, $ Billion
38.2. Sweden, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
39. Switzerland Hospitality Market
39.1. Switzerland, Hospitality Historic Market, 2018-2023, $ Billion
39.2. Switzerland, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
40. Eastern Europe Hospitality Market
40.1. Eastern Europe Hospitality Market Overview
40.2. Eastern Europe Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
40.3. Eastern Europe Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41. Russia Hospitality Market
41.1. Russia Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
41.2. Russia Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
42. Czech Republic Hospitality Market
42.1. Czech Republic, Hospitality Historic Market, 2018-2023, $ Billion
42.2. Czech Republic, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
43. Poland Hospitality Market
43.1. Poland, Hospitality Historic Market, 2018-2023, $ Billion
43.2. Poland, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
44. Romania Hospitality Market
44.1. Romania, Hospitality Historic Market, 2018-2023, $ Billion
44.2. Romania, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
45. Ukraine Hospitality Market
45.1. Ukraine, Hospitality Historic Market, 2018-2023, $ Billion
45.2. Ukraine, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
46. North America Hospitality Market
46.1. North America Hospitality Market Overview
46.2. North America Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
46.3. North America Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47. USA Hospitality Market
47.1. USA Hospitality Market Overview
47.2. USA Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
47.3. USA Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48. Canada Hospitality Market
48.1. Canada Hospitality Market Overview
48.2. Canada Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
48.3. Canada Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
49. Mexico Hospitality Market
49.1. Mexico, Hospitality Historic Market, 2018-2023, $ Billion
49.2. Mexico, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
50. South America Hospitality Market
50.1. South America Hospitality Market Overview
50.2. South America Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
50.3. South America Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51. Brazil Hospitality Market
51.1. Brazil Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
51.2. Brazil Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
52. Chile Hospitality Market
52.1. Chile, Hospitality Historic Market, 2018-2023, $ Billion
52.2. Chile, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
53. Argentina Hospitality Market
53.1. Argentina, Hospitality Historic Market, 2018-2023, $ Billion
53.2. Argentina, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
54. Colombia Hospitality Market
54.1. Colombia, Hospitality Historic Market, 2018-2023, $ Billion
54.2. Colombia, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
55. Peru Hospitality Market
55.1. Peru, Hospitality Historic Market, 2018-2023, $ Billion
55.2. Peru, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
56. Middle East Hospitality Market
56.1. Middle East Hospitality Market Overview
56.2. Middle East Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
56.3. Middle East Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
57. Saudi Arabia Hospitality Market
57.1. Saudi Arabia, Hospitality Historic Market, 2018-2023, $ Billion
57.2. Saudi Arabia, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
58. Israel Hospitality Market
58.1. Israel, Hospitality Historic Market, 2018-2023, $ Billion
58.2. Israel, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
59. Iran Hospitality Market
59.1. Iran, Hospitality Historic Market, 2018-2023, $ Billion
59.2. Iran, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
60. Turkey Hospitality Market
60.1. Turkey, Hospitality Historic Market, 2018-2023, $ Billion
60.2. Turkey, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
61. United Arab Emirates Hospitality Market
61.1. United Arab Emirates, Hospitality Historic Market, 2018-2023, $ Billion
61.2. United Arab Emirates, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
62. Africa Hospitality Market
62.1. Africa Hospitality Market Overview
62.2. Africa Hospitality Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
62.3. Africa Hospitality Market, Segmentation by Ownership, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
63. Egypt Hospitality Market
63.1. Egypt, Hospitality Historic Market, 2018-2023, $ Billion
63.2. Egypt, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
64. Nigeria Hospitality Market
64.1. Nigeria, Hospitality Historic Market, 2018-2023, $ Billion
64.2. Nigeria, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
65. South Africa Hospitality Market
65.1. South Africa, Hospitality Historic Market, 2018-2023, $ Billion
65.2. South Africa, Hospitality Forecast Market, 2018-2023, 2028F, 2033F, $ Billion
66. Hospitality Market Competitive Landscape and Company Profiles
66.1. Hospitality Market Competitive Landscape
66.2. Hospitality Market Company Profiles
66.2.1. Compass group Holdings plc
66.2.1.1. Overview
66.2.1.2. Products and Services
66.2.1.3. Strategy
66.2.1.4. Financial Performance
66.2.2. Starbucks Corporation
66.2.2.1. Overview
66.2.2.2. Products and Services
66.2.2.3. Strategy
66.2.2.4. Financial Performance
66.2.3. Sodexo SA
66.2.3.1. Overview
66.2.3.2. Products and Services
66.2.3.3. Strategy
66.2.3.4. Financial Performance
66.2.4. Marriott International Inc.
66.2.4.1. Overview
66.2.4.2. Products and Services
66.2.4.3. Strategy
66.2.4.4. Financial Performance
66.2.5. Aramark corporation
66.2.5.1. Overview
66.2.5.2. Products and Services
66.2.5.3. Strategy
66.2.5.4. Financial Performance
67. Hospitality Market Other Major and Innovative Companies
67.1. McDonald's Corporation
67.2. Four Seasons Hotels and Resorts Limited
67.3. Darden Restaurants Inc.
67.4. Yum China Holdings Inc.
67.5. Hilton Worldwide Holdings Inc.
67.6. Chipotle Mexican Grill Inc. .
67.7. InterContinental Hotel Group plc
67.8. IDeaS Revenue Solutions Inc.
67.9. The Ritz-Carlton Hotel Company LLC
67.10. Mandarin Oriental Hotel Group Ltd.
67.11. Radisson Hotel Group AB
67.12. Extended Stay America Inc.
67.13. AIR Communities LLC
67.14. Rosewood Hotel Group LLC
67.15. La Quinta Inns & Suites Holdings Inc.
68. Global Hospitality Market Competitive Benchmarking69. Global Hospitality Market Competitive Dashboard70. Key Mergers and Acquisitions in the Hospitality Market
71. Hospitality Market Future Outlook and Potential Analysis
71.1 Hospitality Market in 2028 - Countries Offering Most New Opportunities
71.2 Hospitality Market in 2028 - Segments Offering Most New Opportunities
71.3 Hospitality Market in 2028 - Growth Strategies
71.3.1 Market Trend-based Strategies
71.3.2 Competitor Strategies
72. Appendix
72.1. Abbreviations
72.2. Currencies
72.3. Historic and Forecast Inflation Rates
72.4. Research Inquiries
72.5. About the Analyst
72.6. Copyright and Disclaimer

Executive Summary

Hospitality Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hospitality market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for hospitality? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Type: Non-Residential Accommodation Services; Food and Beverage Services
2) By Ownership: Chained; Standalone

Subsegments Covered: Hotel and Other Travel Accommodation; Camping and Caravanning; Students and Workers Non-residential Accommodation; Restaurants and Mobile Food Services; Bars and Cafes; Catering Services and Food Contractors

Key Companies Mentioned: Compass group Holdings plc; Starbucks Corporation; Sodexo SA; Marriott International Inc.; Aramark corporation

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

  • Compass group Holdings plc
  • Starbucks Corporation
  • Sodexo SA
  • Marriott International Inc.
  • Aramark corporation
  • McDonald's Corporation
  • Four Seasons Hotels and Resorts Limited
  • Darden Restaurants Inc.
  • Yum China Holdings Inc.
  • Hilton Worldwide Holdings Inc.
  • Chipotle Mexican Grill Inc.
  • InterContinental Hotel Group plc
  • IDeaS Revenue Solutions Inc.
  • The Ritz-Carlton Hotel Company LLC
  • Mandarin Oriental Hotel Group Ltd.
  • Radisson Hotel Group AB
  • Extended Stay America Inc.
  • AIR Communities LLC
  • Rosewood Hotel Group LLC
  • La Quinta Inns & Suites Holdings Inc.
  • Apple Leisure Group LLC
  • Evolve Vacation Rental Network Inc.
  • Shangri-La Hotels and Resorts Ltd.
  • American Cruise Lines Inc.
  • Ennismore Lifestyle Group Limited
  • Hotel Engine Inc.
  • OTA Insight Limited
  • Red Lion Hotels Corporation
  • Mint House Holdings Inc.
  • Wonders Legal Inc.
  • BentoBox Media Inc.
  • Berkshire Hathaway Inc.

Methodology

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Table Information