Online Hotel Booking in the US - Industry Market Research Report

Reservation Booked: as More People Travel Following the Pandemic, the Industry is Expected to Recover

The Online Hotel Booking industry comprises establishments primarily providing hotel booking services via online platforms. These websites serve as third-party platforms for customers to research and make hotel reservations. Consequently, this industry excludes hotels that offer direct bookings on their websites and brick-and-mortar travel agencies. Over the past five years, the industry benefited from strong growth in the percentage of business conducted online, indicating more individuals are willing to make online reservations. Nevertheless, the industry was hit by the unprecedented COVID-19 that led to a substantial decline in travel rates. As a result, demand for accommodation declined overall, causing industry revenue to fall sharply in 2020. As travel restrictions were lifted in later 2021, demand has recovered strongly due to the release of pent-up demand. Over the five years to 2023, industry revenue is expected to grow at an annualized rate of 1.5% to $47.1 billion, including a 11.6% growth in 2023 alone. This industry includes establishments that make hotel reservations and bookings online. The industry excludes brick-and-mortar companies that provide hotel reservation services. 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.