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Hospitality Industry Market 2021 report explores the future trends, top companies development and forecasts- Best Western International Inc., Accor SA, Marriott International Inc

09-17-2021 09:14 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Market Insights Reports

The Hospitality Industry market size was US$ 165.7 million and it is expected to reach US$ 370.9 million by the end of 2025, with a CAGR of 12.2%

MarketInsightsReports published a new research publication on “Hospitality Industry” Market Insights, to 2025 and enriched with self-explained data in presentable format. In the Hospitality Industry market study you will find new evolving Trends, Drivers, Restraints, and Opportunities generated by targeting Hospitality Industry market associated stakeholders. The growth of the market was mainly driven by the increasing spending across the world.

Some Of The Key Players Profiled In The Study Are-

- Best Western International Inc., - Accor SA, - Marriott International Inc., - NH Hotel Group SA, - Gruppo Una, - InterContinental Hotel Group PLC, - TH Resorts, - Hilton Worldwide, - ITI Hotels Group, - Bluserena SPA

Sample Report + All Related Information-
https://www.marketinsightsreports.com/reports/10192355303/hospitality-industry-in-italy-growth-trends-and-forecasts-2020-2025/inquiry?Source=OpenPR&Mode=Allie

The hospitality industry in Italy is recording a growing revenue. This growth is attributed to the rising tourism industry, which recorded a growth of EUR 100 billion and welcomed more than 63 million tourists, in 2018. The demand from domestic companies and different European Union countries has become the key driver for the tourism industry, and it accounted for around 60% of the tourism industry in Italy. This trend is reflecting on the growth of domestic and international, branded hotels, and their chains, with double the difference in their presence rate, across the country. The international visitors are highly restricted to Milan and Rome in high numbers, followed by Florence and Venice. Rome became the home for high luxury branded brands, with more than 45, 5-stars hotels that are international brands. The hospitality industry in Italy is the largest market, and it occupies the fourth position in the world, in terms of a number of available rooms, with a total of around 1 million rooms, preceded by the United States, China, and Japan. Italy is also registering more number of overnight stays. Most of the international brands are performing as management contracts in the region.

Industry News And Updates on Hospitality Industry Market-

Highest Brand Expansions Recorded In Italy in 2018

The year 2018 recorded highest brand expansions in the country, with expansions, mergers, and acquisitions, not just for Italian brands but also for different European born brands and international brands as well, which reached the threshold of 4 hotels that needed to be considered as a chain. Italian brands topped the list with the entry of more than 143 brands, followed by the United States, France, and Spain. The year also became a milestone for several international brands and their chains to expand their footprint, by having at least one property in Italy, which is one among the leading hospitality markets in the European Union.

Key Market Trends Hospitality Industry Market-

Dominating Domestic Brands are Driving the Market

The total number of rooms that belong to International brands and their chains registered 4.5% increase in 2018, with the addition of around 4,000 rooms to the existing around 65,900 rooms in 2017. Moreover, the total number of rooms that belong to domestic brands grew exceptionally and recorded more than 113,800 rooms in 2018, which was a growth of around 5.5% to the existing number in 2017. Similar to other leading European Union countries, the hospitality industry in Italy is largely dominated more by the domestic and Europe-born brands/companiesn than international brands. There were around 550 international hotel brands and their chains in Italy, whereas the domestic and Europe-born brands account for more than 1,100.

Market Segmentation On Hospitality Industry-

Scope of the Report of Hospitality IndustryMarket Trend-

Increasing Demand for Hospitality Industry as well as new opportunities in Emerging Countries.

Market Drivers-

The Hospitality Industry is Considered a source to drive more growth resulting in high demand among consumers. 

Challenges-

Finding that challenges assumptions for the consumers to opt or not for Hospitality Industry.

Opportunities-

Increasing Demand in the Industry for Hospitality Industry by the Consumers is Providing an Opportunity for this market.

Region Included In Hospitality Industry Market are-

North America

Europe

Asia-Pacific

South America

Middle East & Africa

Browse Detailed Research Insights with Table of Content-

https://www.marketinsightsreports.com/reports/10192355303/hospitality-industry-in-italy-growth-trends-and-forecasts-2020-2025?Source=OpenPR&Mode=Allie

TOC Continued…!

Competitive Landscape On Hospitality Industry Market-

Key Players to Forge Alliances to Create Sustainable Solutions

In a bid to speed up the research & development and production of sustainable Hospitality Industry market solutions, major market players are building alliances with other industry leaders to widen the scope of their businesses. The focus of these collaborations is to formulate the growth that will make the Hospitality Industry industry more profound, which in turn will future-proof these companies’ offerings.

Qualitative Insights on Impact of COVID-19 on Global Hospitality Industry Market
Supply Chain Analysis & Challenges due to Covid-19
Steps taken by Government / Companies to Overcome this Impact
Potential Challenges and Opportunities due to COVID-19 Outbreak

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About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and Chinese and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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