Global Hotels and Other Travel Accommodation Market Report 2022

Major companies in the hotels and other travel accommodation market include Marriott International, MGM Resorts International, Rewe Group, Ctrip. Com International Ltd., Intercontinental, Hilton Worldwide Holdings, Accor Hotels, TUI Group and Shanghai Jin Jiang International Hotels (Group) Company Limited.

New York, 30 Dec. 2021 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Hotel And Other Travel Accommodation Global Market Report 2022” – https://www.reportlinker.com/p06193674/?utm_source=GNW

The global hotel and other travel accommodation market is expected to grow from $645.44 billion in 2021 to $784.33 billion in 2022 at a compound annual growth rate (CAGR) of 21.5%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $1,349.43 billion in 2026 with a CAGR of 14.5%.

The hotel and other travel accommodation market includes the sales of short-term lodging services and related goods in establishments known as hotels, roadside hotels, resort hotels, and motels by entities (organizations, sole proprietorships, or partnerships) that provide short-term accommodation services and related goods in facilities known as hotels, motor lodges, resort hotels and motels. Establishments in this industry provide food services, recreational services, conference rooms, convention services, laundry services, parking and other services.

The main types of hotels and other travel accommodations are hotels and motels, hotel-casinos, bed and breakfasts and all other traveler accommodations. day in the fee.

The different booking modes involve online bookings, direct bookings, others and include various properties such as chained, standalone. The price of services includes economy, mid-range and luxury and is used for tourist accommodation (leisure), official business (professional).

Asia Pacific was the largest region of hotels and other travel accommodation in 2021. North America was the second largest region accounting for the global hotel and other travel accommodation market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing use of social media and access to mass media is having a positive impact on the tourism and hospitality industries. With tourists sharing their travel information, photographs and videos on social media platforms, people are becoming more aware of the tourist destinations and recreational experiences offered by different countries. around the world.

According to a survey by Stackla, in 2019, 86% of people (and 92% of Gen Z) said they became interested in a specific location after seeing user-generated content on social media. important role in helping countries promote tourism by educating people about their culture.

This growing awareness results in a large number of people traveling abroad and is expected to drive the growth of the hotel and other travel accommodation industry over the forecast period.

Hotels use technologies that transform the guest experience. Certain technologies are driving great improvements and savings in the hotel and other travel accommodation market.

The biggest trend in the hospitality 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 and secure process.

Infrared sensors are used in hotels to respond to guest complaints about housekeeping interruptions. Hotels also use robots to deliver amenities to rooms and for other functional purposes.

Hotel operators are investing in systems and technologies that can automate processes, reduce costs and personalize the guest experience.

The coronavirus disease (COVID-19) outbreak acted as a massive constraint on the hotel and other travel accommodation market in 2020 as governments imposed restrictions on domestic and international travel globally, limiting the need for services offered by these facilities.COVID-19 is an infectious disease with flu-like symptoms including fever, cough and difficulty breathing.

The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in lower economic activity as countries enter a state of “lockdown” and the outbreak has negatively impacted businesses throughout 2020 and until 2021.

However, the hotel and other travel accommodation market is expected to recover from the shock throughout the forecast period as it is a “black swan” event and not related to weaknesses. persistent or fundamental market or global economy.

The countries covered in the Hotel and Other Land Travel Accommodation market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Republic Czech, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Viet Nam.

Read the full report: https://www.reportlinker.com/p06193674/?utm_source=GNW

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