The Global Hotel and Other Travel Accommodation Market are expected to grow from US$ 956.2 billion in 2022 at a CAGR of 3%. The market is expected to grow at a CAGR of 10% starting in 2022 and reach US$ 1229.4 billion by 2029, between 2022-2030.

Hotel And Other Travel Accommodation Market Overview:

The hotel and other travel accommodations market consists of markets where organizations (organizations, sole proprietors, or partnerships) providing short-term accommodation services sell short-term accommodation services and related products in establishments known as hotels, motor hotels, resort hotels, and motels. Related products of establishments known as hotels, motor hotels, resort hotels and motels. Facilities in this industry may provide food and beverage services, recreational services, meeting rooms, convention services, laundry services, parking and other services. The hotel and other travel accommodations market is divided into hotels and motels. casino hotel; bed and breakfast lodging and all other traveler accommodations.

Hotel And Other Travel Accommodation Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Hotel And Other Travel Accommodation Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• Travel agencies and hotels launch new offers to increase sales. From special bubble vacations that promise personalized service from start to finish, to 72-hour flash sales offering free nights, and other promotions throughout the holidays offering discounts of up to 40% at select 5-star hotels, chains and travel agencies.
• As the travel industry recovers during the post-pandemic Christmas season, Leisure Hotels Group, a leading experimental resort chain with presences in scenic destinations in North India and Goa, announces the opening of its first hotel in Rishikesh, The Hideaway Bedzzz. Alternative Accommodation Sector.

Major Market Segments Covered in Hotel And Other Travel Accommodation Market Industry Research:

Market Key Players:
Marriott International, Hilton Worldwide, Wyndham Corporation, Hyatt Hotels Corporation, Four Seasons Hotels & Resorts

By Type:

• Hotel and Motel
• Casino Hotels
• Bed and Breakfast Accommodations
• All Other Traveller Accommodations

By Mode of Booking

• Online Bookings
• Direct Bookings
• Others

By Application:

• Tourist Accommodation (Leisure)
• Official Business (Professional)

By Price Point

• Economy
• Mid-range
• Luxury

By Ownership

• Chained
• Standalone

By Region:

Asia Pacific was the largest region for the global hotel and other travel accommodations market, accounting for 37% of the market in 2020. North America was the second largest region, accounting for 27% of the global hotel and other travel accommodations market. Africa was the smallest region in the global hotel and other travel accommodations market.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Belgium
  • The Netherlands
  • Luxembourg
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia-Pacific
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Market Drivers:

Advances in technology enable businesses to provide personalized services by obtaining information from customers. Businesses use social media and technology, such as mobile software applications that track customer behavior, to collect valuable information about consumers' likes and dislikes to provide personalized offers and promotions. Hotels now offer personalized menus, lighting and other services based on guest information from past visits or information gleaned from social media. Four Seasons Hotel will invest $18 million in a website revamp, offering personalized, dynamic webpages to potential guests.

Market Restraints:

The coronavirus pandemic has weighed heavily on the hotel and other travel accommodations market in 2020, and governments have imposed restrictions on domestic and international travel that limit the need for services provided by these facilities globally. Measures taken by the government to contain the contagion have led to a decline in economic activity, the country is under lockdown and the outbreak is expected to continue to negatively impact businesses through 2020 and 2021.

Market Opportunities:

Increased use of social media and access to media is having a positive impact on the tourism and hospitality industry. As tourists share travel information, photos and videos on social media platforms, people are increasingly aware of the tourist destinations and leisure experiences that different countries around the world have to offer. According to a WeSwap survey, 37% of millennials are inspired by social media content, and 61% of travelers want to share their experiences online. Social media also plays an important role in helping countries promote tourism by letting people know about their culture. This growing awareness is reflected in the large number of people traveling abroad and is expected to drive growth in the hospitality and other tourism accommodations segments over the outlook period.

Hotel And Other Travel Accommodation Market report scope:

Report Attributes	Details
Growth Rate	CAGR of 10% from 2022 to 2030.
By Type	Hotel and Motel, Casino Hotels, Bed and Breakfast Accommodations, All Other Traveller Accommodations
By Application	Tourist Accommodation (Leisure), Official Business (Professional)
By Companies	Marriott International, Hilton Worldwide, AccorHotels
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

Key Takeaways from this Hotel And Other Travel Accommodation Market Report

• Estimate Hotel And Other Travel Accommodation Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Hotel And Other Travel Accommodation Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Hotel And Other Travel Accommodation Market?

The Hotel And Other Travel Accommodation Market is growing at a CAGR of 10% During Forecast Period.

 What are the key types of Hotel And Other Travel Accommodation Market?

Hotel and Motel, Casino Hotels, Bed and Breakfast Accommodations, All Other Traveller Accommodations

What are the key applications of Hotel And Other Travel Accommodation Market?

Tourist Accommodation (Leisure), Official Business (Professional)

Who are the key players in Hotel And Other Travel Accommodation Market?

Marriott International, Hilton Worldwide, Wyndham Corporation, Hyatt Hotels Corporation, Four Seasons Hotels & Resorts