openPR Logo
Press release

Hospitality Industry Market to Deliver Prominent Growth & Striking Opportunities Scenario Highlighting Major Drivers & Trends 2019-2025

03-30-2020 10:29 AM CET | Health & Medicine

Press release from: Orion Market Research

Global Hospitality Industry Market

Global Hospitality Industry Market

The hospitality industry is facing some major losses with the spreading of COVID-19 pandemic across the globe. The situation for most of the restaurants, hotels and other hospitality businesses is becoming very dreadful with time. COVID-19 pandemic is becoming major scrutiny for the hospitality industry. According to the American Hotel and Lodging Association, around 45% of all the jobs are being eliminated or will be eliminated that are related to the hospital industry due to pandemic. It would result in the loss of nearly 4 million hotel jobs in the hotel industry. There was a forecast of nearly 30% drop in the hotel occupancy over the year will be witnessed. Given the impact of a pandemic on travel demands, the hotel industry is registering a loss of around $1.4 billion in revenue every week.For instance, due to travel cancellation across the globe, Marriott Hotels is furloughing its thousands of employees from all of its branches. This loss due to pandemic is not only restricted to big hotel chains, around 33,000 small businesses hotel operations and franchise owners that represents 61% of the industry are also being affected.

Get Sample Copy of Global Hospitality Industry Market at: https://www.omrglobal.com/request-sample/hospitality-industry

Key companies of hospitality industry that are getting affected in the market include Burger King Corp., Choice Hotels International, Inc., Domino's Pizza, Inc., Expedia Group, Four Seasons Holdings Inc., InterContinental Hotels Group PLC, KFC Corp., Marriott International Inc., McDonald's Corp., Starbucks Corp., and Walt Disney Co/The.

Due to the COVID-19 pandemic, multiple events related to entertainment and sports got canceled, postponed, or suspended globally due to government restrictions, which result in a huge disruption in the hotel booking and other hospitality services. Due to the cancelation of the annual event, hospitality local businesses are experiencing downfall, as these events have a large share in their annual traffic and sales generated. For instance, South by Southwest and Coachella, St. Patrick's Day parades in cities such as Dublin and New York have been canceled. As China is the epicenter of the pandemic, the people of the country are restricted to travel in other countries. The most affected tourist destination visited traditionally by Chinese travelers include the US, Europe and surrounded areas of China.

A full report of Global Hospitality Industry Market is available at: https://www.omrglobal.com/industry-reports/hospitality-industry

Moreover, in major tourist cities, the restaurants 'traffic also depends on tourists and with the restriction on traveling, it is becoming another source of turmoil for the hospitality industry. For instance, Starbucks, that has almost 4,300 outlets in China, the US has closed its more than 2,000 Chinese branches amide outbreak. Apart from tourists, the local population is also avoiding the hotels, amusement parks, and restaurants to practice social distancing as much as possible which in turn minimizing the business of the hospitality industry.

Verticals Affected Most

o Food and Beverages
o Travel and Tourism
o Lodging
o Recreation

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/hospitality-industry

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

For More Information, Visit https://www.omrglobal.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Hospitality Industry Market to Deliver Prominent Growth & Striking Opportunities Scenario Highlighting Major Drivers & Trends 2019-2025 here

News-ID: 1989822 • Views:

More Releases from Orion Market Research

Infrastructure as Code (IaC) Service Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
Infrastructure as Code (IaC) Service Market Size Analysis, Competitive Insights, …
Infrastructure as Code (IaC) Service Market was valued at approximately USD 0.932 billion, and it's projected to expand to around USD 7.509 billion by 2033, achieving a robust CAGR of 23.2% from 2024 to 2033. Infrastructure as Code (IaC) Service Market Overview The Infrastructure as Code (IaC) Service Market is experiencing remarkable expansion, fueled by the escalating need for scalable, automated infrastructure deployment across cloud and enterprise environments. In 2023, the market
Ultra High-Performance Liquid Chromatography (UHPLC) Columns Market : A Guide to Understanding the Process
Ultra High-Performance Liquid Chromatography (UHPLC) Columns Market : A Guide to …
Ultra High‐Performance Liquid Chromatography (UHPLC) Columns Market is estimated to be valued at USD 2.5 billion, and is projected to grow to approximately USD 4.8 billion by 2033, representing a compound annual growth rate (CAGR) of about 7.8% from 2024 to 2033. Ultra High-Performance Liquid Chromatography (UHPLC) Columns Market Overview The UHPLC columns market is on a strong growth trajectory, fueled by increasing demand for rapid, high-resolution analytical techniques across pharmaceuticals, biotechnology,
Property Management Service Market Rising Demand and Growth Forecast Through 2033
Property Management Service Market Rising Demand and Growth Forecast Through 203 …
Property Management Service Market was valued at approximately USD 17.3 billion. It is anticipated to reach around USD 32.0 billion by 2033, growing at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2033. Property Management Service Market Overview The Property Management Service Market is witnessing steady growth due to increasing urbanization, rising investments in real estate, and a growing demand for outsourced property management solutions. Property owners are increasingly
5G Chipset Market Set to Witness Significant Growth by 2033 | Apple Inc., HiSilicon Technologies Co., Ltd., ZTE Corporation,
5G Chipset Market Set to Witness Significant Growth by 2033 | Apple Inc., HiSili …
The global 5G chipset market was valued at USD 33.75 billion in 2024 and is projected to reach USD 502.66 billion by 2033, growing at a compound annual growth rate (CAGR) of 35% from 2025 to 2033. 5G Chipset Market Overview The 5G chipset market is experiencing rapid growth, driven by the global rollout of 5G networks and the increasing demand for high-speed, low-latency connectivity across various applications, including smartphones, IoT

All 5 Releases


More Releases for Hospitality

Best Statistical Hospitality Accommodation Software Market Growth Set to Surge S …
The worldwide "Hospitality Accommodation Software Market" 2025 Research Report presents a professional and complete analysis of the Global Hospitality Accommodation Software Market in the current situation. This report includes development plans and policies along with Hospitality Accommodation Software manufacturing processes and price structures. the reports 2025 research report offers an analytical view of the industry by studying different factors like Hospitality Accommodation Software Market growth, consumption volume, Market Size, Revenue,
Sara Hospitality USA Sets New Standards in Luxury Hospitality Furniture
Image: https://www.abnewswire.com/upload/2025/01/3bdb9c9b5de7a5e35ad5b112a681e838.jpg Sara Hospitality USA stands out as a premier provider of hospitality furniture [https://sarahospitalityusa.com/]. Established in 2007, the company has built a strong reputation for delivering high-quality, custom-designed furniture tailored to the unique needs of the hospitality industry. Sara Hospitality specializes in creating durable and stylish furniture using solid wood and plywood to ensure longevity and elegance in hotel spaces. With over 550 successful projects across the United States, they
Discovery Hospitality Celebrated as 2024 Philippines' Leading Hospitality Brand
Discovery Hospitality, the Philippines' beloved home-grown hotel management group, has once again demonstrated its industry leadership by being named "Leading Hospitality Brand in the Philippines" for the second consecutive year at the prestigious World Business Outlook Awards 2024 held this November 2 at the Bangkok Marriott Marquis Queen's Park. The group also took home awards for "Best Hospitality Services Provider" and "Best Luxury Business Hotel" for Discovery Primea, further solidifying
Discovery Hospitality Corporation, Crowned as the Leading Hospitality Brand in t …
Discovery Hospitality Corporation (DHC) proudly added three more awards to its collection after receiving three recognitions at the World Business Outlook Awards held at the Marriott Marquis in Bangkok, Thailand. The World Business Outlook Awards is a prestigious event led by Singapore-based global media publication, World Business Outlook, featuring industry business updates and providing a global voice and perspective to open conversations that are game-changers. To continue its mission of delivering
Collective Hospitality Acquires trading assets of Selina Hospitality PLC (in adm …
Image: https://www.getnews.info/uploads/a78ba01b37fec25d24ff2e52287ba270.png Collective Hospitality Pte Ltd [https://collectivehospitality.com], ("Collective") a leading hospitality owner and operator based in Singapore, today announced the successful acquisition of the majority of the business of Selina Hospitality PLC [https://selina.com] (in administration) ("Selina PLC" or the "Company"), a globally recognized lifestyle and experiential hospitality group. This acquisition represents a significant milestone in Collective's strategic expansion of its lifestyle and experiential travel businesses. This travel segment includes younger nomad
Caprixaa - Hospitality Management
Caprixaa provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition. Caprixaa Hospitality Management also has a proven record of developing bespoke hotel brands and utilizes industry-leading proprietary revenue management tools that identify and predict evolving market dynamics to drive outperformance and maximize asset value. The mission of Caprixaa is to enhance and assist hotels in meeting their objectives for long-term