Hospitality Market Report 2022 - Market Size, Trends, And Global Forecast 2022 – 2026

The Business Research Company’s Hospitality Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, February 3, 2022 /EINPresswire.com/ -- The hospitality market growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. According to the hospitality market research, stable economic growth is expected to drive the market during the forecast period.

Hotels are using technologies that are transforming the customer experience. Some technologies are leading to significant improvements and savings in the hospitality market. Hospitality market analysis shows that the most significant trends in this market are 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 many other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and personalize the experience for guests

Read More On The Global Hospitality Market Report:
https://www.thebusinessresearchcompany.com/report/hospitality-global-market-report

The global hospitality market size is expected to grow from $3.95 trillion in 2021 to $4.55 trillion in 2022 at a compound annual growth rate (CAGR) of 15.1%. The hospitality market report explains that the growth in the market 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 market is expected to reach $6.71 trillion in 2026 at a CAGR of 10.2%.

Major players covered in the global hospitality industry are Compass group plc, Starbucks, Sodexo, Marriott International, Aramark corporation, McDonald's, Darden Restaurants, McDonald's, Darden Restaurants, Yum China Holdings Inc., Chipotle and Berkshire Hathaway Inc.

TBRC’s global hospitality market segments are divided by type into non-residential accommodation services, food and beverage services, by ownership into chained, standalone.

Hospitality Global Market Report 2022 - By Type(Non-Residential Accommodation Services, Food And Beverage Services), 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 hospitality market overview, forecast hospitality market size and growth for the whole market, hospitality market segments, geographies, hospitality market trends, hospitality global market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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