Room service: Rising tourism in Michigan has benefited the industry

The Hotels and Motels industry in Michigan has experienced strong growth other the five years to 2018. By promoting the state’s hospitality and tourism segments through the state’s official travel and tourism campaign, Pure Michigan, the state has positioned itself to take advantage of the growing domestic economy. Although this campaign was created during the previous five-year period, Pure Michigan promoted strong growth over the five years to 2018. During this period, the state’s tourism industries have benefited from increased levels of domestic travel. The number of domestic trips taken by US residents increased an annualized 3.3% during the five-year period, contributing to the 2.7% annualized growth in the state-wide tourism segment...purchase to read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 13-18
3.7%
Forecast Growth 18-23
Profit
Employment
29,132
Businesses
1,269

Industry Threats & Opportunities

  • The MI industry has benefited from increased levels of domestic travel
  • Additional Insights for the Hotels & Motels in Michigan Industry

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

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    What's in this report

    What is the Hotels & Motels in Michigan 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
  • Room or unit accommodation for travelers and others
  • Alcoholic beverages
  • Meals prepared for immediate consumption
  • Meals prepared for catered events
  • 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 Michigan
  • Inbound trips by non-US residents
  • External competition for the Hotels and Motels Industry

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hotels & Motels in Michigan 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
  • Room or unit accommodation for travelers and others
  • Meals prepared for immediate consumption
  • Other
  • Alcoholic beverages
  • Meals prepared for catered events
  • Chart: Hotels & Motels in Michigan Industry Products and Services Segmentation

  • Major Markets
  • Domestic leisure travelers
  • Business travelers
  • International leisure travelers
  • Chart: Major Market Segmentation for the Hotels & Motels in Michigan Industry

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

  • Basis of Competition
    Barriers to Entry
    Hilton Worldwide Holdings Inc., Marriott International Inc., InterContinental Hotels Group PLC, Wyndham 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 Michigan 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 Michigan Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Domestic Trips by US Residents (2009-2023)

  • 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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Hotels & Motels in Michigan Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

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

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