Global Hotels & Resorts - Market Research Report (2014-2029)
New York, United States
Last Updated: February 2024
G4611-GLRevenue
$1.6tr
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
8m
Businesses
682k
Wages
$XXX.Xbn
Global Hotels & Resorts industry analysis
Over the past five years, the Global Hotels and Resorts industry has expanded marginally. Initially, strong growth before the pandemic occurred as consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This factor resulted in a substantial increase in hotel rooms and occupancy rates, two indicators of a hotel's performance. Global tourist arrivals also steadily increased until a drastic drop in 2020 due to the worldwide spread of COVID-19. In 2020 alone, industry revenue declined 44.3% due to the pandemic effect. The pandemic has enormously influenced all tourism-related industries, as many countries suspended international travel and limited the number of flights. This led to a decline in industry profit and revenue during the same period. Since the pandemic has subsided and travel activities have picked up thanks to the mass immunization efforts, industry revenue has rebounded, rising 3.5% in 2024 alone. The potential recovery has however been depressed by the record-high inflation in many countries, reducing individuals' propensity to travel when disposable income falls. Overall, industry revenue is expected to grow at an annualized rate of 0.1% to $1.6 trillion over the five years to 2024.
Trends and Insights
- International tourism boomed before the global spread of COVID-19 effectively offset any growth. The Russia-Ukraine war, the Zero-COVID policy in China and the US record-high inflation level collectively pressured the potential travel rate growth during the five-year period.
- Business travel fell in popularity amid the pandemic, as online meetings and webinars became a more prevalent business practice. As more companies adopt this even after the pandemic, business customers will likely decline, although this segment has rebounded from the pandemic lows.
- The Global Hotels and Resorts industry is generally spread according to its global share of domestic and international tourism-generated activity. Further, disposable income and corporate levels also shaped travelers' propensity to spend on trips.
- Several major companies in this industry operate on a global level and can minimize marginal costs for management, advertising and brand building to increase market share. This provides financial advantages for large existing companies, making it more difficult for new hotels to enter the industry and establish a major presence.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.1 % over the past five years, to reach an estimated $1.6tr in 2024.
Trends and Insights
Travel rates directly influence hotels and resorts
- This industry is susceptible to macroeconomic factors, geopolitical instability and actual or threatened terrorism, negatively affecting people's desire to travel.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The influx of tourist dollars will bolster revenue for global hotels and resorts
- Tourism and travel spending will increase as the global economy improves. The industry will benefit as consumers spend money again, particularly on recreational activities like vacations and traveling.
Biggest companies in the Global Hotels & Resorts
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Marriott International Inc. | 20,266.9 | 3,149.2 | 15.5 | |
Accor SA | 3,626.5 | N/A | N/A | |
Hilton Worldwide Holdings Inc. | 1,208.8 | N/A | N/A |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including High-end hotel accommodation, Medium-end hotel accommodation and Low-end hotel accommodation. High-end hotel accommodation is the largest segment of the Global Hotels & Resorts.
Trends and Insights
Hotels are the most popular service in the industry
- A hotel is an establishment that provides lodging, usually meals and other services, for travelers and paying guests. A hotel can be segmented according to whether it provides full or limited service, location, price, number of rooms and whether it is independent or part of a chain.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Global Casinos & Online Gambling
Complementors
- Global Airlines
- Global Travel Agency Services
- Global Tourism
International industries
- Hotels & Motels in the US
- Casino Hotels in the US
- Boutique Hotels in the US
- Hotels & Motels in Canada
- Hotels and Resorts in Australia
Table of Contents
About this industry
Industry definition
Operators in the Global Hotels and Resorts industry include hotel and resort accommodations with private or shared facilities, and with or without meal services and restaurants attached. This includes both chain and franchised operators. However, it excludes all other forms of accommodation, such as motels, caravan parks and camping grounds, youth and backpacker hotels and bed and breakfast establishments.
What's included in this industry?
Operating hotels with private facilitiesOperating holiday resortsCompanies
Marriott International Inc.Accor SAHilton Worldwide Holdings Inc.Purchase this report to view all 3 major companies in this industry.
Related Terms
REVENUE PER AVAILABLE ROOM (REVPAR)SUITEMANAGEMENT CONTRACTCOMPUTER RESERVATION SYSTEMS (CRS)Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
International tourism boomed before the global spread of COVID-19 effectively offset any growth. The Russia-Ukraine war, the Zero-COVID policy in China and the US record-high...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Business travel fell in popularity amid the pandemic, as online meetings and webinars became a more prevalent business practice. As more companies adopt this even after the p...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Global Hotels and Resorts industry is generally spread according to its global share of domestic and international tourism-generated activity. Further, disposable income ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Several major companies in this industry operate on a global level and can minimize marginal costs for management, advertising and brand building to increase market share. Th...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Large hotels have an online presence, showcasing their amenities, services, rooms and other features online, creating positive expectations. Online booking increases the conv...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Marriott International Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Accor SA's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Hilton Worldwide Holdings Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Marriott International Inc., and factors influencing its performance in the industry
- Description and key data for Accor SA, and factors influencing its performance in the industry
- Description and key data for Hilton Worldwide Holdings Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Global Hotels and Resorts industry is generally subject to moderate government controls and regulations, but this depends heavily on the country of operation. Relevant la...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Substantial fixed costs are associated with hotel operations, including maintenance and minimum labor requirements to deliver services to guests. Although the broader hotel i...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Hotels & Resorts industry in Global in 2024?
The market size of the Global Hotels & Resorts industry in Global is $1.6tr in 2024.
How many businesses are there in the Global Hotels & Resorts industry in 2024?
There are 682k businesses in the Global Hotels & Resorts industry in Global, which has grown at a CAGR of 2.0 % between 2019 and 2024.
Has the Global Hotels & Resorts industry in Global grown or declined over the past 5 years?
The market size of the Global Hotels & Resorts industry in Global has been growing at a CAGR of 0.1 % between 2019 and 2024.
What is the forecast growth of the Global Hotels & Resorts industry in Global over the next 5 years?
Over the next five years, the Global Hotels & Resorts industry in Global is expected to grow.
What are the biggest companies in the Global Hotels & Resorts market in Global?
The biggest companies operating in the Global Hotels & Resorts market in Global are Marriott International Inc., Accor SA and Hilton Worldwide Holdings Inc.
What does the Global Hotels & Resorts in Global include?
Operating hotels with private facilities and Operating holiday resorts are part of the Global Hotels & Resorts industry.
Which companies have the highest market share in the Global Hotels & Resorts in Global?
The company holding the most market share in Global is Marriott International Inc..
How competitive is the Global Hotels & Resorts industry in Global?
The level of competition is high and increasing in the Global Hotels & Resorts industry in Global.
