Hospitality Industry in the United States Market 2020 Latest Trends, Technology Advancement and Demand by 2026

Hospitality Industry in the United States - Growth, Trends, and Forecasts (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Hospitality Industry in the United States Market on the basis of stating current situation of the industry in 2020.

The hospitality industry in the United States has been growing, with the rising number of international travelers visiting the country for leisure trips and with the rising business travel within the country. The total value of bookings increased from USD 116 billion in 2009 to USD 185 billion in 2017. The international arrivals in the country increased by 0.7% in 2017. Cities, like New York, managed to record high numbers of both leisure travelers and business travellers. Growth in digital innovation helped in recording this increasing number and it also helped the players who operate shared spaces, like Airbnb, to be able to reach out to their target audience. The total expenditure of international travellers recorded an all-time high value of USD 251 billion in 2017. Gross hotel bookings recorded a value of USD 185 billion in 2017, which was USD 116 billion in 2009. All these growing numbers, together, inspired the Department of Commerce to target 95.5 million international visitor arrivals, annually, by 2023, which is twice the number it recorded in 2000.

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Competitive Landscape

The hospitality industry in the United States is dynamic. The region hosts a high number of brands with global footprints. Airbnb has been attracting a large consumer base and it recorded an increasing number of listings and bookings over the past few years. The entry of the concept of shared space has been giving a tough competition to the major players, over the past 3 to 4 years.

Key Market Trends:

The Y-o-Y Growth in Revenue is Driving the Market

The hospitality industry in the United States always managed to score a growing number, over the past few years. Though the occupancy rates fluctuate from month to month, the overall revenue generated from the segment keeps increasing. The region recorded USD 280 billion in terms of the revenue generated in 2018, which was almost double the revenue it generated in the early 2000s. Since 2000, the region recorded positive growth in revenue, which dropped to USD 133 billion in 2009, due to the global recession, from USD 152 billion in 2008.

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The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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