Making room: Higher visitation rates will bolster revenue for the industry

While highly susceptible to broad changes in domestic travel and consumer spending, the Hotels and Motels industry in Illinois has experienced robust growth over the five years to 2017. Thanks to increases in travel spending, corporate profit and consumer spending, industry revenue has grown every year of the period. As a result, the Hotels and Motels industry in Illinois has outperformed the broader state economy over the past five years, driven by high demand from domestic leisure and business travelers. Over the five years to 2022, IBISWorld projects that the industry will continue expanding, with particularly strong growth in the extended-stay hotels, boutique hotels, spa and health retreats and resorts segments...read more.

Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 12-17
1.8%
Forecast Growth 17-22
Profit
Employment
52,691
Businesses
3,453
What Our Customers Say

Industry Threats & Opportunities

  • Demand for hotel rooms has outpaced supply, leading to higher room rates and increasing industry revenue
  • The industry has benefited from the widespread proliferation of the internet
  • The industry will benefit from improvements in the domestic and global economy
  • Industry Report - Industry Analysis Chapter

    The Hotels and Motels industry in Illinois has experienced steady growth over the five years to 2017. As per capita disposable income and consumer confidence have increased during the five-year period, all forms of travel accommodation have experienced an increase in demand, as consumers increased spending on luxuries such as travel. Since destination hotels and motels rely heavily on domestic and foreign tourism, the increase in domestic and international travel during the five-year period has substantially contributed to the industry’s bottom line. For example, industry revenue grew 2.7% in 2016, when international travel into the United States grew 4.4%. Fur...purchase to read more.

    Additional Insights for the Hotels & Motels in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hotels & Motels in Illinois 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 Illinois industry impact industry performance..

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    What is the Hotels & Motels in Illinois 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 over 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 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 Illinois
  • Inbound trips by non-US residents

  • Current Performance
  • Demand on the rise
  • Technological change and growth
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Economic growth to boost demand
  • People and profit
  • Table: Hotels & Motels in Illinois Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hotels & Motels in Illinois 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 over 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 Illinois Industry Products and Services Segmentation

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

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

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

    The Hotels & Motels in Illinois industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    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 Illinois:
    • 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 Illinois 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 Illinois, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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