NEW YORK, Nov. 19, 2015 /PRNewswire/ -- The hotel industry is one of the major sectors in the hospitality sector. Hotel facilities vary in function, size, and cost. The facilities provided by hotels include swimming pool, childcare, conference facilities, business centers, and social function services, among others. The booming travel and tourism industry is one of the major factors boosting the growth of the hotel industry. Apart from this, aggressive branding strategies adopted by the major players are also expected to drive the growth of the hotels market. Hotels are classified based on services they offer into: 1 Star, 2 Star, 3 Star, 4 Star, 5 Star, and unrated. The one star hotels include tourist hotels; two star hotels include standard hotels; 3 star hotels include comfort hotels; 4 star hotels include first class hotels; and 5 star hotels include luxury hotels.
The report has been segmented by type and region, and highlights the current market trends and provides forecast for the period from 2015 to 2021. We have also covered the current market scenario for hotels and highlighted the future trends that are likely to have an impact on the demand for hotels. The report lists a number of hotels located across major countries in each of the regions. The report also analyzes the macroeconomic factors influencing and inhibiting the growth of the global hotels market.
The 3 Star segment held the largest market share in the global hotels market. Increasing domestic tourism coupled with demand for luxurious lifestyle is one of the major factors fueling the demand in the 3 Star hotels segment. However, unrated segment is expected to be fastest growing segment with increasing demand in the budget hotels segment. However, the 5 Star hotels segment also has huge growth potential. Increasing number of business travelers coupled with demand for better service is one of the major factors fueling the demand in this segment.
North America is the largest as well as the fastest growing market for hotels globally. The U.S. held the largest market share in North America hotels market. The U.S. has largest number of budget hotels globally. Moreover, booming travel and tourism industry is also expected to have positive impact on the hotels market. In addition, the major players offering segmented offerings is also driving the hotels market in the U.S. India, China, Singapore and South Korea among others are some of the major markets for hotels in Asia Pacific. Singapore with increasing number of business travelers is the fastest growing market in the Asia Pacific region. The 4 Star segment held the largest market share in Singapore hotels market. In addition, Brazil, Saudi Arabia and UAE are some of the major markets fueling the demand for hotels in rest of the world.
The report also provides an understanding of the value (USD billion) of the hotels market. The study also provides forecast from 2015-2021 and highlights current and future market trends. The report also provides an understanding of brand shares in hotels market across various countries covered in the scope of research.
By Geography, the market has been segmented into North America, Europe, Asia Pacific and rest of the world. The countries included in the North America region are U.S., Canada and rest of North America. Europe includes the U.K., Germany, France and rest of Europe. India, China, South Korea and Singapore are some of the major countries covered within the scope of Asia Pacific. Rest of the world region includes Brazil, UAE and Saudi Arabia among others.
The report also provides number of hotels present across each of the countries across segments. The key players operating in global hotels market are Hilton Worldwide Holdings Inc., Marriott International Inc., InterContinental Hotels Group Plc, Starwood Hotels and Resorts Worldwide, Inc., Accor Group, Indian Hotels Co Ltd., ITC Ltd., Jumeirah International LLC, Atlantis The Palm Limited, and Four Seasons Holdings Inc. among others.
Global Hotels Market: By Type
Global Hotels Market: By Geography
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of the World
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