The hotel and other travel accommodation industry provides
short-term accommodation, meals and other guest services for travelers and
tourists. Establishments in this industry may include hotels, other travel
accommodations, resort hotels and others.
The hotel and other travel accommodation industry can be
classified into hotels and motels, casino hotels, bed and breakfast
accommodation and all other travel accommodation.
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The global hotel and other travel
accommodation market has been growing in the past years with a CAGR of almost 7%.
The year 2017 recorded high growth in this market with a net market value more
than 20% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic
and future trends in the market for each year with sourced reasons to support
the growth claims.
The report also shows the
global hotel and other travel accommodation market to grow at a higher CAGR by
2021 as compared to 2017, along with geographies best suited for investments
with highest return rate.
Sample
report:
Hotels are using technologies that are
transforming customer experiences. Some technologies are leading to great
improvements and savings to the hotel and other travel accommodation market.
The most significant trend in the accommodation industry is the use of
near-field-communication (NFC) technology, infrared technologies, and robots.
NFC gives users the ability to exchange data between devices, making mobile
payments an instant, secure process. Infrared sensors are used in hotels to
address customer complaints involving housekeeping interruptions. Hotels are
also using robots to deliver amenities to guest rooms and for other functional
purposes. Hotel operators are investing in systems and technologies that can
automate processes, cut costs and personalize the experience for guests.
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Companies included in the report are Marriott
International, Inc, Hilton Worldwide Holdings, Inc, Wyndham Worldwide, Hyatt
Hotels Corporation, and Four Seasons Hotels & Resorts.
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