Dublin, April 1, 2021 (GLOBE NEWSWIRE) – The Global Hotels and Other Travel Accommodation Market Report 2021: COVID-19 Impact And Recovery By 2030 “ Report was added ResearchAndMarkets.com Offer.
The global hotel and other travel accommodation market is projected to grow from $ 673.02 billion in 2020 to $ 801.9 billion in 2021, with an average annual growth rate (CAGR) of 19.1%.
Global Hotels and Other Travel Accommodation 2021 Market Report: COVID-19 Impact And Recovery By 2030 provides strategists, marketers and executives with the crucial intelligence they need to assess the global Hotel and Other Travel Accommodation market as it emerges from the COVID-19 shows off.
Major companies in the hotel and other travel accommodation markets include Marriott International; Hilton Worldwide; Wyndham Corporation; Hyatt Hotels Corporation and Four Seasons Hotels & Resorts.
The growth is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which had previously resulted in restrictive containment measures that included social distancing, remote working and the closure of commercial activities that created operational challenges . The market is projected to reach US $ 1052.84 billion in 2025 with an annual growth rate of 7%.
The Asia-Pacific region was the largest region in the global hotel and other travel accommodation market with a market share of 37% in 2020. North America was the second largest region with a 27% share of the global hotel and other travel accommodation market. Africa was the smallest region in the global hotel and other travel accommodation market.
Hotels use technologies that change the customer experience. Some technologies are leading to great improvements and savings for the hotel and other travel accommodation markets. The most significant trend in the lodging industry is the use of near field communication technology (NFC), infrared technologies and robots.
The story goes on
With NFC, users can exchange data between devices, making mobile payments an instant and secure process. Infrared sensors are used in hotels to handle customer complaints that result in housekeeping being interrupted. Hotels also use robots to provide amenities for guest rooms and other functional purposes. Hotel operators invest in systems and technologies that can automate processes, reduce costs and personalize the guest experience.
The coronavirus disease (COVID-19) outbreak severely restricted the market for hotels and other travel accommodations in 2020 as governments around the world imposed restrictions on domestic and international travel that limited the need for the services of these facilities.
However, the hotel and other travel accommodation market is expected to recover from the shock over the forecast period as it is a “black swan” event that is not related to persistent or fundamental weaknesses in the market or the global economy.
The increasing use of social media and access to mass media are having a positive impact on the tourism and hotel industries. As tourists share their travel information, photos and videos on social media platforms, people are becoming increasingly aware of the tourist destinations and leisure experiences that different countries around the world have to offer.
Main topics covered:
1. Summary
2. Reporting structure
3. Market characteristics of hotels and other travel accommodation
3.1. Market definition
3.2. Key segmentations
4. Product analysis of the market for hotels and other travel accommodations
4.1. Leading products / services
4.2. Main features and distinguishing features
4.3. Development products
5. Hotel and other travel accommodation supply chain
5.1. Supply chain
5.2. distribution
5.3. End customers
6. Customer information for hotels and other travel accommodations
6.1. Customer settings
6.2. End use market size and growth
7. Market trends and strategies for hotels and other travel accommodations
8. Effects of COVID-19 on hotel and other travel accommodations
9. The size and growth of the hotel and other travel accommodation market
9.1. Market size
9.2. Historic Market Growth, Value (Billion US Dollars)
9.3. Forecast Market Growth, Value (Billion US Dollars)
10. Regional analysis of the market for hotels and other travel accommodations
10.1. Global Hotel and Other Travel Accommodation Market, 2020, By Region, Value (Billion US Dollars)
10.2. Global Hotel and Other Travel Accommodation Market, 2015-2020, 2020-2025F, 2030F Historical & Forecasted, By Regions
10.3. Global Hotel and Other Travel Accommodation Market, Growth and Market Share Comparison by Region
11. Market segmentation for hotels and other travel accommodations
11.1. Global Hotel and Other Travel Accommodation Market, Segmentation By Type, Historical And Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars
11.2. Global Hotel and Other Travel Accommodation Market, Segmentation By Booking Type, Historical And Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars
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Online bookings
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Direct bookings
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Other
11.3. Global Hotel and Other Travel Accommodation Market, Segmentation By Application, Historical and Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars
11.4. Global Hotel and Other Travel Accommodation Market, Price Point Segmentation, Historical and Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars
11.5. Global Hotel And Other Travel Accommodation Market, Segmentation By Ownership, Historical And Forecast, 2015-2020, 2020-2025F, 2030F, Billion US Dollars
12. Market metrics for hotels and other travel accommodations
12.1. Hotel and Other Travel Accommodation Market Size, Percentage of GDP, 2015-2025, Global
12.2. Average Per Capita Market Spend on Hotels and Other Travel Accommodation, 2015-2025, Global
Mentioned companies
For more information on this report, see https://www.researchandmarkets.com/r/ps24mm
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