GITNUX MARKETDATA REPORT 2024

Global Hospitality Industry Statistics [Fresh Research]

Highlights: The Most Important Global Hospitality Industry Statistics

  • Miami has the most expensive hotel rate in the United States, with an average price of 304 USD and hotel room revenue worth 141.6 billion USD.
  • Miami has the most expensive hotel rate in the United States, with an average price of 304 USD and hotel room revenue worth 141.6 billion USD.
  • Working in the hospitality industry provides global skills, day-to-day variety, staff perks, and the chance to work with great people.
  • Airbnb’s valuation is well over $10 billion, creating increased competition for the hotel industry.
  • Hotel occupancy and revenue per room dropped drastically due to the lockdown in 2020.
  • The global hospitality industry was worth $5.5 trillion in 2019.
  • The global wellness tourism market reached a value of $725 billion in 2021.
  • Pre-COVID 19, the global hotel industry was expected to grow at a CAGR of 4.5% between 2020 and 2027.
  • In 2019, North America had the highest hotel occupancy rate at 66.1%.
  • Before the pandemic, online bookings accounted for 82% of all travel reservations.
  • There were about 218,000 hotels worldwide in 2018, providing 17.5 million rooms.
  • The global foodservice market was worth approximately $3.4 trillion in 2018.
  • In 2019, short-term rental properties made up 15% of the global hospitality market.
  • Revenue per available room (RevPAR) in the global hospitality industry declined by 50% in 2020 due to the pandemic.
  • The global bed and breakfast market was worth $76.72 billion in 2021.
  • In 2019, Hilton Worldwide was the leading hotel company with 6,110 hotels and over 971,000 rooms worldwide.
  • In 2019, the majority of hotel guests, 52%, were leisure travelers.
  • The global hospitality industry is expected to recover to pre-pandemic levels by 2023.

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The hospitality industry is one of the most important and dynamic industries in the world. It is a major contributor to the global economy, providing jobs and services to millions of people. As the industry continues to grow, it is important to stay up to date on the latest industry trends and statistics. In this blog post, we will explore the latest global hospitality industry statistics and discuss what they mean for the industry.

We will look at the size of the industry, the growth rate, and the impact of technology on the industry. We will also explore the current challenges and opportunities facing the hospitality industry. By the end of this post, you will have a better understanding of the global hospitality industry and how it is changing.

Global Hospitality Industry: Most Important Statistics

Miami has the most expensive hotel rate in the United States, with an average price of 304 USD and hotel room revenue worth 141.6 billion USD.
The hospitality industry is growing, with 1.1 million tourism and hospitality workers hired in June 2019, 64 000 more than the previous year, and hotel managers earning a median annual salary of $53 390.
Spain’s travel and tourism sector lost 110 billion euros and 840 thousand jobs due to COVID-19 in 2020, representing a 70% decrease in international tourism and 30% of the country’s total tourism employment in 2019.

Global Hospitality Industry: Statistics Overview

The Canadian accommodation industry revenue has grown from 8.87 billion CAD in 2016 to 17 billion CAD in 2019, with food service and drinking place sales staying within a range of 5-7 billion CAD per month.

This demonstrates the growth of the accommodation industry in Canada, which is indicative of the overall growth of the hospitality industry in the global market.

Miami has the most expensive hotel rate in the United States, with an average price of 304 USD and hotel room revenue worth 141.6 billion USD.

This shows the potential of the US hospitality industry and the potential for growth in the future. It also shows the potential for other cities to compete with Miami in terms of hotel rates and revenue. This statistic can be used to inform investment decisions and strategies for the hospitality industry.

The hospitality industry is growing, with 1.1 million tourism and hospitality workers hired in June 2019, 64 000 more than the previous year, and hotel managers earning a median annual salary of $53 390.

This highlights the growth of the hospitality industry and its profitability. This indicates that the hospitality industry is an attractive and lucrative career path for many people, and that it is likely to continue to grow in the future.

Working in the hospitality industry provides global skills, day-to-day variety, staff perks, and the chance to work with great people.

This highlights the benefits of working in the industry, which can be used to attract more people to the industry and to encourage current professionals to stay in the industry. This can help to ensure that the industry has enough skilled professionals to meet the demands of the industry.

58% of hospitality industry employees identified pandemic-induced staff shortages as the biggest challenge, while 37% claimed they were struggling with inexperienced staff.

This is a major challenge for the industry and one that must be addressed in order to ensure its continued success.

Airbnb’s valuation is well over $10 billion, creating increased competition for the hotel industry.

This shows the potential for Airbnb to grow and become a major competitor to the hotel industry, which could lead to a shift in the market share of the industry.

Additionally, the article highlights the need for the hotel industry to become more technologically savvy in order to effectively compete with Airbnb.

Hotel occupancy and revenue per room dropped drastically due to the lockdown in 2020.

This highlights the significant impact that the COVID-19 pandemic has had on the industry. It shows that the industry has been greatly affected by the pandemic, with occupancy and revenue per room dropping drastically.

This has had a major impact on the industry, with many businesses claiming that they need at least half of their pre-COVID income in order to remain viable.

Spain’s travel and tourism sector lost 110 billion euros and 840 thousand jobs due to COVID-19 in 2020, representing a 70% decrease in international tourism and 30% of the country’s total tourism employment in 2019.

This shows the devastating impact that the pandemic has had on the tourism sector in Spain, one of the world’s top tourist destinations. It also highlights the need for governments to take action to support the industry and protect jobs in the sector.

73% of hotel guests prefer to use an app to open their room door, and 28% believe that all their IT environments will be on the cloud in the next two years.

The industry is increasingly looking to digitalization to streamline its goods and services. This is important as it shows that the industry is adapting to the changing needs of customers, who are increasingly looking for more convenient and secure ways to access services.

The global interactive kiosk and online food delivery markets have both seen significant growth in 2020, and are expected to continue growing in the future due to the effects of COVID-19.

This demonstrates the embracement of technological advancements in the industry, allowing restaurants to enhance efficiency and meet customer demands in an increasingly digital age.

Supplementary Statistics

The global hospitality industry was worth $5.5 trillion in 2019.

It serves as a reminder of the immense economic impact the industry has on the world, and the potential for growth and development it holds. It is a powerful indicator of the industry’s importance and influence, and a valuable insight into the current state of the industry.

The global wellness tourism market reached a value of $725 billion in 2021.

The hospitality industry is a lucrative and ever-growing sector, with more and more people investing in wellness tourism. This statistic is a clear indication that the hospitality industry is a viable option for those looking to invest in the future.

Pre-COVID 19, the global hotel industry was expected to grow at a CAGR of 4.5% between 2020 and 2027.

This provides insight into the expected growth of the industry and the potential for investment in the sector. This information is essential for anyone looking to gain a better understanding of the global hospitality industry and its future prospects.

In 2019, North America had the highest hotel occupancy rate at 66.1%.

Travelers are increasingly choosing to stay in hotels in the region. It is a sign of the industry’s success and a positive indicator of the potential for further growth in the future.

Before the pandemic, online bookings accounted for 82% of all travel reservations.

The majority of travel reservations were made online, demonstrating the need for businesses to have a strong online presence in order to remain competitive. This statistic is especially relevant in the context of the global hospitality industry, as it highlights the importance of digital marketing and the need for businesses to adapt to the changing landscape of the industry.

There were about 218,000 hotels worldwide in 2018, providing 17.5 million rooms.

This highlights the immense number of hotels and rooms available to travelers around the world, demonstrating the industry’s ability to meet the needs of a wide variety of customers. It also speaks to the industry’s potential for growth, as the number of hotels and rooms continues to increase.

The global foodservice market was worth approximately $3.4 trillion in 2018.

It serves as a reminder of the importance of the hospitality industry in the global economy, and the need for businesses to stay competitive in order to remain successful.

In 2019, short-term rental properties made up 15% of the global hospitality market.

The industry is rapidly expanding and that more people are turning to short-term rentals for their travel needs. This is an important trend to note, as it indicates that the hospitality industry is adapting to the changing needs of travelers and is becoming more competitive.

Revenue per available room (RevPAR) in the global hospitality industry declined by 50% in 2020 due to the pandemic.

The devastating statistic of a 50% decline in Revenue per available room (RevPAR) in the global hospitality industry in 2020 serves as a stark reminder of the immense impact the pandemic has had on the industry. This statistic is a powerful indicator of the financial losses incurred by the hospitality industry, and serves as a reminder of the need for continued support and investment in the sector.

The global bed and breakfast market was worth $76.72 billion in 2021.

It is a clear indication that bed and breakfasts are a major player in the industry, and that they are a lucrative business opportunity for those looking to invest in the hospitality sector. This statistic is a valuable insight for anyone looking to gain a better understanding of the global hospitality industry and its potential.

In 2019, Hilton Worldwide was the leading hotel company with 6,110 hotels and over 971,000 rooms worldwide.

This highlights the company’s impressive reach, with a presence in over 100 countries and territories, and its ability to provide a vast number of rooms to accommodate travelers. This statistic is a powerful reminder of the impact that Hilton Worldwide has had on the hospitality industry, and serves as a reminder of the importance of the industry as a whole.

In 2019, the majority of hotel guests, 52%, were leisure travelers.

Leisure travelers are the primary customers of hotels, making up more than half of all guests. This highlights the importance of catering to the needs of leisure travelers, as they are the main source of revenue for the hospitality industry. Furthermore, this statistic can be used to inform strategies for marketing and customer service, as well as to identify potential areas for growth.

The global hospitality industry is expected to recover to pre-pandemic levels by 2023.

This is a beacon of hope for the global hospitality industry, providing a timeline for when the industry can expect to return to pre-pandemic levels. It serves as a reminder that, despite the current challenges, the industry will eventually recover and thrive once again.

Conclusion

The global hospitality industry is an ever-growing and ever-changing industry that is full of opportunities for those who are willing to take the plunge. From the rise in international travel to the increasing demand for luxury accommodations, the hospitality industry is an exciting and lucrative field to be in.

With the right research and data, businesses can stay ahead of the curve and capitalize on the latest trends and developments in the industry. The statistics presented in this blog post provide a snapshot of the current state of the global hospitality industry and can be used to inform decisions and strategies for the future.

References

1 – https://www.statista.com/topics/2862/hotels-in-canada/#topicHeader__wrapper

2 – https://www.statista.com/topics/7704/hotel-industry-in-the-us/#topicHeader__wrapper

3 – https://www.skylineuniversity.ac.ae/knowledge-update/travel-and-tourism/5-benefits-of-joining-the-tourism-and-hospitality-industry

4 – https://www.linkedin.com/pulse/benefits-working-hospitality-industry-daniel-l-david/

5 – https://www.classeq.co.uk/6-of-the-biggest-challenges-faced-by-the-hospitality-sector/

6 – https://www.soegjobs.com/hotel-industry-challenges/

7 – https://www.statista.com/topics/8342/hotel-industry-recovery-post-covid-19-in-new-zealand/#topicHeader__wrapper

8 – https://www.statista.com/topics/8275/impact-of-covid-19-on-tourism-in-spain/#topicHeader__wrapper

9 – https://www.statista.com/topics/8339/digitalization-of-the-hospitality-industry/

10 – https://www.statista.com/topics/8103/digitalization-of-the-restaurant-industry/#topicHeader__wrapper

11 – https://www.transparencymarketresearch.com

12 – https://www.businesswire.com

13 – https://www.globenewswire.com

14 – https://www.mordorintelligence.com

15 – https://www.grandviewresearch.com

16 – https://www.trekksoft.com

17 – https://www.statista.com

18 – https://www.hvs.com

19 – https://www.revfine.com

FAQs

What is the global hospitality industry?

The global hospitality industry is an umbrella term for the various businesses and services that provide accommodation, food, and entertainment to travelers and tourists.

What are the challenges facing the global hospitality industry?

The global hospitality industry is facing challenges such as increasing competition, rising labor costs, and the need to provide more personalized services. Additionally, the industry is also facing challenges due to the changing nature of customer preferences and the impact of technology on the industry.

What are the opportunities in the global hospitality industry?

There are numerous opportunities in the global hospitality industry, such as the growth of online travel booking sites, the emergence of new markets, and the use of technology to improve the customer experience.

What are the trends in the global hospitality industry?

Some of the trends in the global hospitality industry include the emergence of boutique hotels, the use of technology to provide personalized services, and the focus on sustainability.

What are the key players in the global hospitality industry?

Key players in the global hospitality industry include hotel chains, airlines, cruise lines, travel agencies, and online travel booking sites.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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