The Latest Global Hotel Industry Statistics Explained
As of 2018, the global hotel industry was worth $570.25 billion.
The statistic that as of 2018, the global hotel industry was worth $570.25 billion indicates the total economic value generated by hotels worldwide in that year. This figure encompasses revenue from accommodation services, food and beverage sales, as well as other amenities and services offered by hotels on a global scale. The size of the hotel industry is a significant indicator of the overall strength of the tourism and hospitality sector, reflecting consumer demand for travel and accommodations. As such, this statistic highlights the substantial economic impact of the hotel industry, serving as a key component of the global economy and providing insights into trends and opportunities within the sector.
The number of hotel rooms available worldwide was approximately 18.5 million in 2018.
The statistic that the number of hotel rooms available worldwide was approximately 18.5 million in 2018 provides a quantitative measure of the global hotel industry’s capacity to accommodate guests. This figure represents the total count of rooms available for travelers across different countries and regions, reflecting the extensive infrastructure investment in the hospitality sector. The substantial number of hotel rooms indicates the scale and competitiveness of the global tourism market, as well as the potential economic impact in terms of revenue generation, job creation, and overall contribution to local economies. Monitoring such statistics is crucial for stakeholders in the travel and tourism industry, policymakers, and researchers to understand trends, assess market demand, and make informed decisions for sustainable growth and development.
By 2030, India is expected to have approximately 3.52 million additional hotel rooms.
The statistic ‘By 2030, India is expected to have approximately 3.52 million additional hotel rooms’ refers to the projected increase in the number of hotel rooms in India by the year 2030. This statistic signifies a substantial expansion in India’s hospitality industry to accommodate the growing demand from domestic and international travelers over the next decade. The expected addition of 3.52 million hotel rooms indicates significant investments in infrastructure development, tourism initiatives, and economic growth within the country. This increase reflects the rising prominence of India as a key player in the global travel and tourism market, highlighting the potential for the hospitality sector to contribute significantly to the country’s overall economic development and job creation.
The hotel industry in the Middle East & North Africa region is set to grow at a CAGR of 10.2% in the next four years.
This statistic indicates that the hotel industry in the Middle East & North Africa region is projected to experience a Compound Annual Growth Rate (CAGR) of 10.2% over the next four years. This suggests a steady and robust growth trend in the sector. A CAGR of 10.2% means that, on average, the industry’s revenue or market size is expected to increase by 10.2% every year for the next four years. This growth could be driven by factors such as increasing tourism, infrastructure development, investments in the hospitality sector, or other economic factors contributing to the expansion of the hotel industry in the region.
In the United States, California has the highest number of hotels, approximately 6,140 establishments in 2019.
The statistic suggests that California has the highest concentration of hotels among all the states in the United States, with approximately 6,140 establishments in 2019. This high number of hotels indicates a robust hospitality industry in California, likely driven by the state’s popularity as a tourist destination and its large population. The large number of hotels also suggests that there is a strong demand for accommodation services in California, supporting jobs and economic growth within the state’s hospitality sector. Additionally, the prevalence of hotels in California could be linked to the diverse range of attractions and activities available in the state, catering to various types of travelers and visitors.
Online travel sales to residents were more than $755 billion worldwide in 2019.
The statistic ‘Online travel sales to residents were more than $755 billion worldwide in 2019’ refers to the total monetary value of travel-related products and services purchased online by residents across the globe during the year 2019. Specifically, this figure encompasses the amount spent by individuals on various online platforms for booking flights, accommodations, car rentals, tours, and other travel-related activities. The substantial amount of over $755 billion highlights the significant and growing trend of consumers opting for online channels to plan and book their travel experiences, emphasizing the widespread adoption of e-commerce platforms in the travel industry. This statistic underscores the importance of online sales in the travel sector and the substantial economic impact it has on the global market.
The Asia Pacific region had the highest number of hotel rooms under construction globally in 2020, with approximately 151,020 rooms.
The statistic indicates that the hotel industry in the Asia Pacific region was experiencing substantial growth in 2020, as it had the largest number of hotel rooms under construction worldwide, totaling around 151,020 rooms. This suggests a significant investment in infrastructure and tourism development within the region. The high number of hotel rooms being built also points to a positive outlook for the hospitality sector in Asia Pacific, showing confidence in future demand for accommodation and potentially signaling increased travel and tourism activity in the region. Overall, the statistic reflects a burgeoning hotel industry and a strong focus on expanding hospitality offerings in the Asia Pacific region.
Luxury hotels constituted the largest share of the hotel market in 2020, about 45%.
The statistic “Luxury hotels constituted the largest share of the hotel market in 2020, about 45%” indicates that among all categories of hotels, luxury hotels held the highest proportion of market share during that year. Specifically, approximately 45% of the total hotel market was accounted for by luxury hotels. This suggests that luxury hotels were the most prominent segment in the industry, potentially attracting a significant portion of customers and revenue compared to other types of hotels such as budget or mid-range accommodations. The dominance of luxury hotels in the market could be driven by factors such as high-end amenities, superior service quality, and a focus on luxury and exclusivity, appealing to a specific demographic or clientele seeking premium accommodations.
The revenue of the European hotel industry was about $85.7 billion in 2018.
The statistic states that the total revenue generated by the European hotel industry in the year 2018 was approximately $85.7 billion. This figure reflects the combined sales and income generated by hotels across various European countries during that particular year. The revenue of the hotel industry is a key indicator of economic activity, as it is influenced by factors such as tourism trends, travel patterns, and overall consumer spending in the region. This statistic provides valuable insight into the economic significance and impact of the hotel industry in Europe, highlighting its contribution to the overall economy and employment opportunities within the hospitality sector.
The hotel industry is projected to generate $109.78 billion in online bookings in 2022.
The statistic that the hotel industry is projected to generate $109.78 billion in online bookings in 2022 indicates a significant level of economic activity within the sector. This figure reflects the increasing trend of consumers booking hotel accommodations online, highlighting the industry’s reliance on digital platforms for generating revenue. The substantial financial impact underscores the competitive nature of the hotel market, with players investing in online marketing strategies and technological innovations to attract and retain customers. Such a robust projection also suggests a potential shift in consumer behavior towards online booking channels, emphasizing the need for hotel operators to adapt and optimize their online presence to capitalize on this trend.
Beijing, Tokyo, Shanghai, Guangzhou, and Shenzhen were the five cities with the most significant hotel construction pipelines in Asia in 2019.
In 2019, Beijing, Tokyo, Shanghai, Guangzhou, and Shenzhen led the way in hotel construction pipelines in Asia, indicating a strong focus on expanding and improving accommodation offerings in these cities. This statistic suggests a robust level of investment and development activity in the hospitality sector within these major Asian urban centers, highlighting the growing importance of tourism and business travel in the region. The presence of significant hotel construction pipelines in these cities also implies a potential increase in job opportunities, economic growth, and infrastructure enhancement to support the growing demand for accommodation services in the coming years.
Between 2008 and 2018, the number of international tourists worldwide increased by 56%, from 922 million to 1.5 billion.
The statistic indicates that between 2008 and 2018, there was a significant 56% increase in the number of international tourists worldwide, rising from 922 million to 1.5 billion. This substantial growth suggests a strong and steady trend towards global tourism during this time period. Factors contributing to this increase may include economic development, improved transportation infrastructure, rising disposable incomes in many countries, and increased connectivity through technological advancements. The surge in international tourism suggests a growing interest in travel and exploration among individuals worldwide, highlighting the importance of the tourism sector in the global economy.
More than 57% of all booked hotel rooms in the United States were reserved online in 2017.
The statistic indicates that a significant majority, specifically more than 57%, of all hotel rooms booked in the United States in 2017 were reserved through online platforms. This suggests a major shift in consumer behavior towards utilizing online booking systems for accommodation arrangements. The data highlights the growing popularity and convenience of online booking services within the hospitality industry, showcasing a preference for digital platforms over traditional methods such as booking through phone calls or in-person visits. This trend emphasizes the importance for hotels to have a strong presence and effective strategies in place for online booking and marketing to cater to the increasing demand for digital booking processes among customers.
Global branded hotel chains room supply amounted to 8 million rooms in 2017.
The statistic indicates that the collective room supply of global branded hotel chains totaled 8 million rooms in the year 2017. This metric reflects the combined inventory of rooms across all international hotel chains that operate under recognized brand names. It serves as a crucial measure of the scale and presence of major hotel brands in the global hospitality industry, offering valuable insight into their market share, distribution reach, and competitive positioning. By comparing this figure across different years or with competitors, stakeholders can gauge trends in hotel chain expansion, assess market saturation levels, and evaluate growth strategies within the industry.
The highest number of overnights stays in hotels are from US travellers, with115.9 million nights.
The statistic states that US travelers have the highest number of overnight stays in hotels, totaling 115.9 million nights. This indicates that American travelers are the most frequent hotel guests compared to travelers from other countries. The high number of nights spent by US travelers can have significant implications for the hotel industry, as it suggests a strong demand from this demographic. It also reflects the US population’s propensity for travel and potentially higher disposable income to spend on accommodation. Understanding these trends can inform hoteliers on how to cater their services to better accommodate the needs and preferences of American guests, ultimately optimizing their business strategies to attract and retain this key market segment.
As of February 2022, the US hotel industry showed162,633 properties with 15.8 million rooms.
As of February 2022, the statistic reveals that the US hotel industry includes a total of 162,633 properties housing 15.8 million rooms. This data points to the scale and magnitude of the hotel industry in the United States, highlighting the extensive infrastructure and capacity available to accommodate travelers and guests across the country. The high number of properties and rooms indicates a thriving hospitality sector that plays a crucial role in supporting tourism, business travel, and various other industries. Furthermore, this statistic also suggests the competitive nature of the US hotel market, with a diverse range of options available to cater to the needs and preferences of visitors from around the world.
References
0. – https://www.www.statista.com
1. – https://www.www.hospitalitynet.org
2. – https://www.www.ihgplc.com
3. – https://www.lodgingeconometrics.com
4. – https://www.www.grandviewresearch.com
5. – https://www.www.menahotelgroup.com
6. – https://www.www.wttc.org
