Full up: Higher tourism rates will bolster revenue for the industry

Over the five years to 2017, the Hotels and Motels industry in Florida has experienced steady growth, primarily thanks to robust gains in overall tourism participation throughout the state. Increases in corporate profit, domestic travel and consumer spending, as well as consistent increases in international travel, have enabled industry revenue growth in every year since 2012. Though increased development suggests the prospect of oversupply, continued rises in domestic and international tourism, as well as increased business activity in the central and southern regions of Florida, are expected to bolster industry demand going forward...read more.

Industry Statistics & Market Size
Revenue
$21bn
Annual Growth 12-17
4.3%
Forecast Growth 17-22
Profit
Employment
177,412
Businesses
9,688
What Our Customers Say

Industry Threats & Opportunities

  • The Hotels and Motels industry in Florida has outperformed the broader state economy over the past five years
  • Major players have ramped up efforts to generate sales through their own online channels
  • Demand for the state's many attractions is expected to remain robust
  • Industry Report - Industry Products Chapter

    A hotel is an establishment that provides lodging and, usually, meals and other services for travelers and other paying guests. Conversely, a motel provides lodging for motorists in rooms that usually have direct access to an open parking area. A particular hotel or motel can be classified by a number of characteristics, including whether it provides full or limited service, whether or not it is located in a metropolitan area, the state or region in which it is located, its price or rate level, the number of rooms and whether it is independent or part of a chain operation.Hotels and motels can also be segmented by room price rates. Establishments with room rates in the top 30.0% that are located in local or metropolitan markets are classified as upscale or luxury. The middle 30.0% i...purchase to read more.

    Additional Insights for the Hotels & Motels in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hotels & Motels in Florida 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 Domestic trips by US residents and Consumer Confidence Index in the Hotels & Motels in Florida industry impact industry performance..

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    What is the Hotels & Motels in Florida Industry?

    Operators in this industry provide short-term lodging in hotels, motor hotels (motels) and resort hotels. Establishments 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.

    Industry Products
  • Guest room rentals from properties with under 75 rooms
  • Guest room rentals from properties with between 75 and 299 rooms
  • Guest room rentals from properties with between 300 and 500 rooms
  • Guest room rentals from properties with more than 500 rooms
  • Alcoholic beverages served for immediate consumption
  • Meals, nonalcoholic drinks and other items for immediate consumption
  • Conference room and venue space rentals for events
  • Other services (meals for catered events, laundry services, parking)
  • Industry Activities
  • Operating short-term hotels
  • Operating short-term motor hotels
  • Operating short-term resort hotels
  • Operating short-term motels
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Domestic trips by US residents
  • Consumer Confidence Index
  • Consumer Spending in Florida
  • Inbound trips by non-US residents

  • Current Performance
  • Tourism demographics
  • Technology abounds
  • Industry composition
  • Chart: Revenue Growth

  • Industry Outlook
  • Growing economy bolsters demand
  • The road ahead
  • Table: Hotels & Motels in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hotels & Motels in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • International Airlines
  • Domestic Airlines
  • Travel Agencies
  • Tour Operators
  • Public Administration
  • Consumers

  • Key Selling Industries
  • Beef & Pork Wholesaling
  • Beer Wholesaling
  • Computer & Packaged Software Wholesaling
  • Dairy Wholesaling
  • Egg & Poultry Wholesaling
  • Fish & Seafood Wholesaling
  • Fruit & Vegetable Wholesaling
  • Furniture Stores
  • TV & Appliance Wholesaling
  • Wine & Spirits Wholesaling

  • Products & Services
  • Guest room rentals from properties with between 75 and 299 rooms
  • Guest room rentals from properties with under 75 rooms
  • Meals, nonalcoholic drinks and other items for immediate consumption
  • Guest room rentals from properties with more than 500 rooms
  • Guest room rentals from properties with between 300 and 500 rooms
  • Other services (meals for catered events, laundry services, parking)
  • Alcoholic beverages served for immediate consumption
  • Conference room and venue space rentals for events
  • Chart: Hotels & Motels in Florida Industry Products and Services Segmentation

  • Major Markets
  • Domestic leisure travelers
  • International leisure travelers
  • Business travelers
  • Meeting, events and incentive travelers
  • Chart: Major Market Segmentation for the Hotels & Motels in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesDepreciationOther
  • Chart: Cost Structure Benchmarking – Sector vs Hotels & Motels in Florida

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hotels & Motels in Florida Industry

  • Marriott International Inc.Hilton Worldwide Holdings Inc.InterContinental Hotels Group PLCWyndham Worldwide
  • Table: Marriott International Inc. - financial performance
  • Table: Hilton Worldwide Holdings Inc. - financial performance
  • Table: InterContinental Hotels Group PLC - financial performance
  • Table: Wyndham Worldwide - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Hotels & Motels in Florida 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 Hotels & Motels in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Domestic Trips by US Residents (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.
  • Revenue Per Available Room (Revpar)
  • A measurement that is calculated by multiplying a hotel's average daily room rate by its occupancy rate.
  • Room Rate
  • Actual published room tariffs.
  • Why buy this report?

    IBISWorld’s industry research report on Hotels & Motels in Florida can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    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 Hotels & Motels in Florida:
    • 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 Hotels & Motels in Florida 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 Hotels & Motels in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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