Hotel And Other Travel Accommodation Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Hotel And Other Travel Accommodation Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, January 5, 2022 /EINPresswire.com/ -- Increasing use of social media and access to mass media is positively impacting the tourism and hotel industries. With tourists sharing their travel information, photographs and videos on social media platforms, people are increasingly becoming aware of the tourist destinations and recreational experiences offered by different countries around the world. According to a survey by Stackla, 86% of people (and 92%of Gen Z) said they’ve become interested in a specific location after seeing user-generated content in social media. Also, the mass media is playing an important role in helping countries promote tourism by educating people about their culture. This rising awareness is resulting in large number of people travelling abroad and is expected to drive growth in the hotel and other travel accommodation industry during the forecast period.

Asia Pacific was the largest region in the hotel and other travel accommodation in 2021. North America was the second largest region accounting in the global hotel and other travel accommodation market. The regions covered in the hotel and other travel accommodation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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The global hotel and other travel accommodation market size 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 the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The hotel and other travel accommodation market forecast shows that it will reach $1,349.43 billion in 2026 at a CAGR of 14.5%.

Hotel and other travel accommodation market trends include using technologies that are transforming customer experiences. Some technologies are leading to great improvements and savings to the hotel and other travel accommodation market. The most significant trend in the accommodation 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, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for other functional purposes. Hotel operators are investing in systems and technologies that can automate processes, cut costs and personalize the experience for guests.

Major players covered in the global hotel and other travel accommodation industry are Marriott International, MGM Resorts International, Rewe Group, Ctrip.Com International Ltd, Intercontinental, Hilton Worldwide Holdings, Accor Hotels, TUI Group, Shanghai Jin Jiang International Hotels (Group) Company Limited.

TBRC’s global hotel and other travel accommodation market segmentation is divided by type into hotel and motel, casino hotels, bed and breakfast accommodation, all other traveler accommodation, by mode of booking into online bookings, direct bookings, others, by application into tourist accommodation (leisure), official business (professional), by price point into economy, mid-range, luxury, by ownership into chained, standalone.

Hotel And Other Travel Accommodation Global Market Report 2022 - By Type (Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveler Accommodation), By Mode of Booking (Online Bookings, Direct Bookings), By Application (Tourist Accommodation (Leisure), Official Business (Professional)), By Price Point (Economy, Mid-Range, Luxury), By Ownership (Chained, Standalone) - Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides a hotel and other travel accommodation market overview, forecast hotel and other travel accommodation market size and growth for the whole market, hotel and other travel accommodation market segments, geographies, hotel and other travel accommodation market trends, hotel and other travel accommodation market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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