South Korea Hotels and Motels Market Summary, Competitive Analysis and Forecast to 2027

Key Highlights

• The hotels & motels industry consists of establishments that provide paid lodging and full guest services, typically with a continuous staff presence. In the case of motels, this includes off-street parking facilities, but not necessarily meal services. The industry is detailed in both value and volume terms.
• The South Korean hotels & motels industry had total revenues of $6.1 billion in 2022, representing a negative compound annual growth rate (CAGR) of 1.2% between 2017 and 2022.
• Industry consumption volume increased with a CAGR of 6.2% between 2017 and 2022, to reach a total of 2,176.0 establishments in 2022.
• The demand for hotels & motels in South Korea is attributed to the growing travel & tourism industry, the growing middle-class population, rising consumer purchasing power and expenditure, and economic growth.

Scope

• Save time carrying out entry-level research by identifying the size, growth, and leading players in the hotels & motels market in South Korea
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the hotels & motels market in South Korea
• Leading company profiles reveal details of key hotels & motels market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the South Korea hotels & motels market with five year forecasts by both value and volume

Reasons to Buy

• What was the size of the South Korea hotels & motels market by value in 2022?
• What will be the size of the South Korea hotels & motels market in 2027?
• What factors are affecting the strength of competition in the South Korea hotels & motels market?
• How has the market performed over the last five years?
• Who are the top competitors in South Korea's hotels & motels market?