Table of Contents
What is the market size of hotel industry?
Market insights: The hotel industry in India is expected to reach a value of INR 1,210.87 Bn by the end of 2023, expanding at a compound annual growth rate (CAGR) of ~13\% during the 2018-2023 period, owing to the high arrival rate of foreign tourists and business delegates.
How much is the hotel industry worth 2020?
In 2020, the global hospitality market reached 3486.77 billion U.S. dollars and was forecast to grow to 4132.5 billion U.S. dollars in 2021 at a compound annual growth rate (CAGR) of 18.5 percent.
What is the market share of hotel industry?
United States is the largest market, with a share of about 30\%, followed by China, and Europe, both have a share over 35 percent. In terms of product, Suite Hotels is the largest segment, with a share of nearly 40\%. And in terms of application, the largest application is F&B, followed by Room, SPA, etc.
Which is the biggest hotel group in the world?
Marriott International
United States – $14.5 billion Sixty years later, Marriott International is the largest hotel company in the world, made up of more than 5,700 properties and spread throughout 110 countries with 30 total brands.
How many hotel rooms are there worldwide?
16.97 million hotel rooms
Global hotel room count 2008-2018 According to the source, there were 16.97 million hotel rooms worldwide in 2018. This shows an increase of just over 2.5 million hotel rooms globally over the past 10 years.
What is the 2nd biggest hotel chain in the world?
The Largest Hotel Chains in the World
| Rank | Hotel Chain | Number of Properties |
|---|---|---|
| 1 | Wyndham Worldwide | 8,092 |
| 2 | Choice Hotels | 6,429 |
| 3 | Marriott International | 5,974 |
| 4 | InterContinental Hotels Group | 5,070 |