Hotel Industry Statistics By Leading Hotel Brands Worldwide, Factors Affecting Selecting Accommodations and Demographics
WHAT WE HAVE ON THIS PAGE
- 1 Introduction
- 2 Editor’s Choice
- 3 What Industry Is a Hotel?
- 4 Type of Hotels Around the World
- 5 Top 10 Largest Hotels in the US
- 6 Hotel Industry Facts
- 7 General Hotel Industry Statistics
- 8 Hotel Industry Statistics by Leading Hotel Brands Worldwide
- 9 Hotel Industry Statistics by Factors Affecting Selecting Accommodations
- 10 Hotel Industry Statistics by Demographics
- 11 Difference Between Different Stars Hotels
- 12 Conclusion
Introduction
Hotel Industry Statistics: The Hotel and tourism industry has been booming ever since the old days. It was the only time when lockdown caused all travelers to stay at their own houses and not travel anywhere. But surprisingly, these two industries together recovered losses within 2 years after pulling out of the ban on travel restrictions. Hotels are refreshing for long as well as short stays.
These Hotel Industry Statistics are interesting with extra added material to plan a vacation in 2023. Don’t forget to take a look at exciting insights as well.
Editor’s Choice
- On average, according to Hotel Industry Statistics 62.2% of rooms are accommodated at any given time.
- As of 2022, the hotel industry was expected to recover around 1.6 trillion of the losses during the pandemic period.
- As of 2022 revenue per available room in the United States of America was forecasted at $92 which is expected to increase to $103 by 2024.
- Rental property has been booked by 74% of millennials, 38% of Gen Xers, and 20% of baby boomers.
- As of February 2023, in the United States of America, the occupancy rate was 64.2%.
- In 2022, in the United States of America, the revenue for the hotel industry was around 239.7 billion.
- Every year, the accommodation industry in the United States of America employs around 1.6 million people.
- As of 2023, 97% of the accommodation industry has installed sanitizing facilities around their property.
- As of 2023, Asia Pacific has been recognized as the largest market for hospitality by having a 42% share in the global hotel market.
- Hotel Industry Statistics show that, for large hotel chains, loyalty members are more than 50% of the total room bookings.
- 6% of travelers are willing to pay more for an eco-friendly hotel.
- Majority of travelers book hotels and flights 12 weeks in advance.
- Whereas 48% of the experience bookings occur upon arrival.
- As per the Hotel Industry Statistics, the global hospitality industry has grown at a CAGR of 7% reaching $4,699.57 billion in 2023.
What Industry Is a Hotel?
The hotel industry is known as the hospitality industry and is larger in many terms. Some businesses that come under hospitality are restaurants, bars, theme parks, motels, travel and tourism, hotels, resorts, etc…. In this industry, the host is expected to offer the guest all the services as per the rules and regulations of the hotel industry as well as provide baths, food, gifts, and drinks. In Guinness World Records, Japan’s Nishiyama Onsen Keiunkan Hotel is recognized as the oldest hotel in the world founded in 705.
Type of Hotels Around the World
Top 10 Largest Hotels in the US
#1. Wyndham Group Hotels and Resorts
- Number of locations: 6083
- States: 51
- Cities: 2,339
#2. Marriott Group Hotels and Resorts
- Number of locations: 5,700
- States: 51
- Cities: 1,559
#3. Hilton Group Hotels and Resorts
- Number of locations: 5,650
- States: 53
- Cities: 1,939
#4. Choice International Group Hotels
- Number of locations: 5,580
- States: 52
- Cities: 2,265
#5. IHG Group Hotels and Resorts
- Number of locations: 3,901
- States: 51
- Cities: 1,921
(Source: tripadvisor.com)
#6. Hampton Inn Hotels by Hilton
- Number of locations: 2,366
- States: 52
- Cities: 1,608
#7. Holiday Inn Express Hotels by IHG
- Number of locations: 2,293
- States: 51
- Cities: 1,647
#8. Best Western Group Hotels and Resorts
- Number of locations: 2,163
- States: 53
- Cities: 1,539
#9. Quality Inn Hotels by Choice
- Number of locations: 1,628
- States: 49
- Cities: 1,274
#10. Super 8 Hotels by Wyndham
- Number of locations: 1,463
- States: 49
- Cities: 1,168
Hotel Industry Facts
- Every year pleasure trips outnumber business trips.
- The Accommodation Industry is women-centric, as more women are working in the industry than men.
- Every day, around 300 cruise ships sail with an accommodation facility for more than 300,000 guests.
- France is the most visited country in the world with 80 million visitors per year.
- Space tourism is possible in the coming future.
- The largest cruise line in the world is 362 meters in length.
- Interestingly, ghost hunting at haunted hotels is becoming more popular day by day.
- The oldest hotel in the world is in Japan named Koshu Nishiyama onsen Keiunkan.
- Dubai has 6 out of 10 tallest hotels in the world.
General Hotel Industry Statistics
- In 2022, in the United States of America, the revenue for the hotel industry was around 239.7 billion.
- Furthermore, as of 2022 revenue per available room in the United States of America was forecasted at $92 which is expected to increase to $103 by 2024.
- As of today, there are more than 700,000 hotels and resorts around the world.
- Whereas, the total number of rooms for hotels collectively is around 15.5 million.
- On average, according to Hotel Industry Statistics 62.2% of rooms are accommodated at any given time.
- As of February 2023, in the United States of America, the occupancy rate was 64.2%.
- Hotels that have high-quality photos uploaded on the booking websites have increased their rate of conversion by 15%.
- As of 2022, the total number of hotels and motels in the United States of America reached the number of 90.6K.
- Every year, the accommodation industry in the United States of America employs around 1.6 million people.
- 57% of the hotels are looking forward to digitizing the process of check-in and check-out.
- Mobile hotel booking is the most popular way of booking solo travelers.
- As of 2022, the hotel industry was expected to recover around 1.6 trillion of the losses during the pandemic period.
- As of 2023, 97% of the accommodation industry has installed sanitizing facilities around their property.
- Moreover, 86% of hotels are willing to invest in hygiene facilities.
- Hotel Industry Statistics show that, for large hotel chains, loyalty members are more than 50% of the total room bookings.
- As of 2023, Asia Pacific has been recognized as the largest market for hospitality by having a 42% share in the global hotel market.
- 40% of the hotels in the United States of America operate independently.
- 93% of the users have made their reservations by reading online reviews.
- As of 2023, 59% of the hotels offer online booking.
- 58% of event planners in the United States of America hotels offer online booking and rooms for simple meetings.
- Furthermore, Hotel Industry Statistics state that the city with the highest costs for 5-star hotel construction in the United States of America was Honolulu resulting in $730 per square foot.
- Whereas, building a 3-star hotel in Arizona, and Phoenix costs around $250 per square foot.
- Hotels around the world experience the busiest days during Weekends and holiday seasons.
- The region with the highest occupancy rate as of 2022 is Europe.
- As of Q4 2022, China had the largest number of construction of hotel rooms in the pipeline resulting in 675 thousand rooms.
- On the other hand, the United States of America ranked top for having the highest number of hotel construction projects in the pipeline resulting in 5,465.
- In addition to this in 2022, the market size for the accommodation and food service industry was expected to reach 1.41 trillion in the United States of America.
- During the trip, travelers will stay in the same hotel for around 1.8 nights on average.
Hotel Industry Statistics by Leading Hotel Brands Worldwide
(Reference: statista.com)
- As of 2022, Hilton is the top most valued hotel brand around the world with a value of 12.04 billion.
- The top two hotels with the most valued brand globally are Hyatt and Holiday Inn, resulting in $5.9 billion and 4.15 billion respectively.
- Other valuable hotel brands as of 2022 around the world include Hampton by Hilton ($3.92 billion), Marriott ($2.3 billion), DoubleTree ($2.11 billion), Shangri-La Hotels and Resorts ($1.91 billion), Intercontinental ($1.45 billion), Embassy Suites ($1.43 billion) and Crowne Plaza ($1.27 billion).
Hotel Industry Statistics by Factors Affecting Selecting Accommodations
(Reference: financesonline.com)
- The top three factors that influence the accommodation choice are location. Traveller’s needs and price resulted in 41%, 39%, and 36% respectively.
- Family or friends offering and Room size also affects the traveler’s decision by 31% similarly.
- Whereas 21% of the travelers stated that deal promotion also affects their choice of hotels for a staycation.
Hotel Industry Statistics by Demographics
- 78% of millennials prefer to spend their money on experiences during vacations.
- 66% of millennials book their trips using smartphones.
- 44% of millennials prefer to book Airbnb-style rentals during business travel.
- Rental property has been booked by 74% of millennials, 38% of Gen Xers, and 20% of baby boomers.
Difference Between Different Stars Hotels
1 Star ⭐
1 Star hotels have shared bathrooms, basic room options, and in some hotels vending machines. This hotel has a self-served meal facility.
2 Star ⭐⭐
Color Television, in-house bar and restaurant, and basic room facilities.
3 Star ⭐⭐⭐
Gym facilities, conference or meeting rooms, restaurant, multiple room options
4 Star ⭐⭐⭐⭐
Swimming pool, Gym, and Creche, Concierge services, conference or meeting room, restaurant and bars, multiple rooms or suite options.
5 Star ⭐⭐⭐⭐⭐
Luxury rooms and suites, meeting or conference rooms, advanced room facilities, gym facilities, bar and restaurant, swimming pool, and much more…
7 Star ⭐⭐⭐⭐⭐⭐⭐
All facilities mentioned above plus a spa, outdoor sports, private dining facilities, snooker and billiards rooms, lounge, libraries, and smoking areas.
Conclusion
The global hotel industry is a crucial part of the economy’s progress. The more booking a hotel receives the better chances of increasing the country’s economy. The travelers will invest their money in the country’s economy using vacations. Moreover, digitalization has made it easy to check any hotel in any corner of the world from your home country. The hassle-free process to proceed with the bookings. Well! It’s already a vacation month, why not also plan something cool?
Sources
FAQ.
As of 2023, the global hotel industry is valued at $4,699.57 billion.
Health and well-being, digitized experiences, hyper-personalization, Sustainability, Virtual and Augmented reality, deals and offers, and bleisure travelers are current trends in the hospitality industry.
You can enroll in hotel management courses such as Bachelor of Hotel Management, or Master of hotel management.
The average salary for hotel workers in the United States of America is $34,524 to $55,065 per year
Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.
