A research report
recently published by Transparency Market Research forecasts
the global hotels market to expand at a CAGR of 4.0% during the
period between 2015 and 2021, The report, titled “Hotels
Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 - 2021”, projects the global hotels market
to be worth US$702.74 bn by 2021. The overall market was valued at
US$534.02 bn in 2014.
The report states
that the increasing expenditure on travel and tourism has propelled
the growth of the global hotels market. The growing tourism industry,
along with segmented offerings from major players, has further
boosted the market growth. However, the report states that unstable
political environment across some of the regions might restrain the
growth of the market during the forecast horizon. Natural disasters
also might negatively affect the market. The overall market has a
huge opportunity to grow in the untapped luxury hotels segment.
On the basis of
hotel type, the report categorizes the global hotels market into 1
Star, 2 Star, 3 Star, 4 Star, 5 Star, and unrated. The 3 Star segment
dominates the overall market owing to the thriving travel and tourism
industry, along with demand for luxurious lifestyle. However, during
the forecast horizon, due to the surging demand for budget hotels,
the unrated segment is likely to exhibit the fastest growth.
The report segments
the global hotels market into four key regions: North America, Asia
Pacific, Europe, and Rest of the World. North America has emerged as
the largest and the fastest growing region in the market owing to the
rapid growth of the travel and tourism industry. While the 3 Star
segment has dominated the regional market, the unrated segment is
anticipated to emerge as the fastest growing segment during the
forecast horizon. The U.S. is the key market in the region due to
increasing business and leisure tourism.
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In Asia Pacific,
countries such as India, China, Singapore, and South Korea are
contributing largely towards the growth of the hotels market.
Singapore is the fastest growing market in the region with the 5 Star
segment accounting for the largest share of the market. In Rest of
the World, Saudi Arabia, Brazil, and UAE are some of the major
countries driving the growth of the hotels market. UAE is the fastest
growing market in the region. In Europe, presence of a large number
of hotels across countries such as the U.K., Germany, and France is
expected to saturate the regional market during the forecast period.
The report describes
the competitive landscape and profiles some of the Key
Players operating in the global
hotels market such as Marriott International Inc., Hilton Worldwide
Holdings Inc., InterContinental Hotels Group Plc, Starwood Hotels and
Resorts Worldwide Inc., Accor Group, Indian Hotels Co Ltd., ITC Ltd.,
Atlantis The Palm Limited, Jumeirah International LLC, and Four
Seasons Holdings Inc.
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Transparency Market
Research (TMR) is a global market intelligence company providing
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and analyze information.
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repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
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