Checking in: Improving global economic conditions and increased travel spending will boost industry revenue

Over the five years to 2017, the Global Hotels and Resorts industry experienced strong growth as both consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This culminated in a substantial increase in both travel rates and hotel room and occupancy rates, two indicators of a hotel's performance. Over the five years to 2022, travel spending is projected to increase as global economic conditions continue to improve and consumer spending bolsters revenue for global hotels and resorts...purchase to read more.

Industry Statistics & Market Size
Revenue
$878bn
Annual Growth 12-17
3.2%
Forecast Growth 17-22
Profit
Employment
4.3m
Businesses
572,000

Industry Threats & Opportunities

  • Travel spending is projected to increase over the next five years as global economic conditions continue to improve
  • This industry is particularly sensitive to macroeconomic factors, geopolitical instability and actual or threatened terrorism
  • The number of international tourist arrivals worldwide is expected to increase
  • Industry Report - Industry Investment Chapter

    The Global Hotels and Resorts industry is subject to a moderate-to-high level of capital intensity. For every $1.00 the average restaurant in the industry spends on wages, it will spend an estimated $0.34 on the use and replacement of capital. Both labor and capital play an important role in the industry.As a service-based industry, hotel and resort operators are highly dependent on direct labor input across all areas of operation, from front-desk service, reservations, room service and cleaning, food preparation, liquor and beverage service and back-of-house operational management. Due to the service nature of the industry, many of these labor-intensive functions cannot be substituted by technology or machinery. To ...purchase to read more.

    Additional Insights for the Global Hotels & Resorts Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Global Hotels & Resorts Industry are

  • Access to multiskilled and flexible workforce
  • Being part of a franchising chain
  • Receiving the benefit of word-of-mouth recommendations
  • IBISWorld analysts also discuss how external factors such as Global tourist arrivals and Global consumer sentiment index in the Global Hotels & Resorts industry impact industry performance..

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    What's in this report

    What is the Global Hotels & Resorts Industry?

    Operators in this industry include hotel and resort accommodations with private or shared facilities, and with or without meal services and restaurants attached. This includes both chain and franchised operators. However, it excludes all other forms of accommodation, such as motels, caravan parks and camping grounds, youth and backpacker hotels and bed and breakfast establishments.

    Industry Products
  • High-end hotel accommodation
  • Medium-end hotel accommodation
  • Low-end hotel accommodation
  • Resort accommodation
  • Industry Activities
  • Operating hotels with private facilities
  • Operating holiday resorts
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Global tourist arrivals
  • Global consumer sentiment index
  • Global per capita income
  • GDP of the BRIC nations

  • Current Performance
    Impact of travelRegional trendsRoom rates riseTechnology boosts profit
  • Chart: Revenue Growth

  • Industry Outlook
    Tourism trendsTrends promoting growth
  • Table: Global Hotels & Resorts Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Global Hotels & Resorts Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Global Airlines
  • Global Travel Agency Services
  • Global Consumers

  • Key Selling Industries
  • Global Beer Manufacturing
  • Global Fruit & Vegetables Processing
  • Global Milk & Cream Manufacturing
  • Global Spirits Manufacturing
  • Global Sports Betting & Lotteries

  • Products & Services
  • Medium-end hotel accommodation
  • High-end hotel accommodation
  • Low-end hotel accommodation
  • Resort accommodation
  • Chart: Global Hotels & Resorts Industry Products and Services Segmentation

  • Demand Determinants
  • Domestic tourism
  • Business travel
  • International tourism

  • Major Markets
  • Domestic - leisure and other
  • Domestic - business
  • International - leisure and other
  • International - business
  • Chart: Major Market Segmentation for the Global Hotels & Resorts Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Labor
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Global Hotels & Resorts

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Global Hotels & Resorts Industry

  • Industry Globalization
    Marriott International Inc., Hilton Worldwide,
  • Table: Marriott International Inc. - financial performance
  • Table: Hilton Worldwide - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Global Hotels & Resorts Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Global Hotels & Resorts Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Global tourist arrivals (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Computer Reservation Systems (Crs)
  • Computerized systems used to store and retrieve information and conduct transactions related to travel.
  • Management Contract
  • A contract for the operation of hotel property with the building owner.
  • Revpar
  • Short for revenue per available room, an indication of average room rates.
  • Suite
  • A hotel room of larger size than average, offering more internal fittings and comfort.
  • What Our Customers Say

    Why buy this report?

    The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Hotels & Resorts global market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies globally and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Global Hotels & Resorts:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Global Hotels & Resorts market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Global Hotels & Resorts, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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