Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Global Hotel And Other Travel Accommodation Market Research Report 2020-2030 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
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Top leading Companies of Global Hotel And Other Travel Accommodation Market are – Marriott International; Hilton Worldwide; Wyndham Corporation; Hyatt Hotels Corporation; Four Seasons Hotels & Resorts
1) By Type: Hotel And Motel; Casino Hotels; Bed And Breakfast Accommodation; All Other Traveler Accommodation
2) By Mode of Booking: Online Bookings; Direct Bookings; Others
3) By Application: Tourist Accomodation (Leisure); Official Business (Professional)
4) By Price Point: Economy; Mid-Range; Luxury
5) By Ownership: Chained; Standalone
The hotel and other travel accommodation market consists of sales of short-term lodging services and related goods in facilities known as hotels, motor hotels, resort hotels, and motels by entities (organizations, sole traders or partnerships) that provide short-term lodging services and related goods in facilities known as hotels, motor hotels, resort hotels, and motels. The establishments in this industry may offer food and beverage services, recreational services, conference rooms, convention services, laundry services, parking, and other services.
The global hotel and other travel accommodation market is expected to decline from $956.4 billion in 2019 to $953.2 billion in 2020 at a compound annual growth rate (CAGR) of -0.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 10% from 2021 and reach $1227.1 billion in 2023.
Technological advances are enabling firms to deliver personalized services by obtaining customer intelligence. Companies are providing customized promotions and offers by collecting vital information about consumers likes, dislikes and preferences by using social media and technologies such as mobile software applications that track customer behavior. . Hotels are now offering personalized menus, lighting, and other services based on customer information available from previous visits or intelligence gathered from social media. The Four Seasons Hotel spent $18 million to revise their website which will deliver personalized dynamic web pages to potential customers.
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What are the market factors that are explained in the report?
Executive Summary: It includes key trends of the global Hotel And Other Travel Accommodation market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the global Hotel And Other Travel Accommodation market based on production and revenue.
Production and Consumption by Region: It covers all regional markets focused in the research study. It discusses about prices and key players besides production and consumption in each regional market.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Hotel And Other Travel Accommodation market.
Market Segments: This part of the report discusses about product type and application segments of the global Hotel And Other Travel Accommodation market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach Hotel And Other Travel Accommodation used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Finally, Hotel And Other Travel Accommodation Market report is the believable source for gaining the Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and Market development rate and figure and so on. This report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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