Business Travel Lodging Market 2024 - Size, Share, Trends, Demand Analysis, Global Challenges, Competitive Growth, and Outlook until 2033

The business travel lodging market size has grown strongly in recent years. It will grow from $357.35 billion in 2023 to $380.74 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to global economic growth, increased demand for corporate profitability, expansion of multinational corporations, emerging markets and travel expansion, digitalization and remote working.

The business travel lodging market size is expected to see strong growth in the next few years. It will grow to $477.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising popularity of hybrid work arrangements and bleisure trips (combining business and leisure), growing awareness of environmental impact, increasing focus on personalized experiences, growth of serviced apartments, extended-stay hotels, and co-living spaces. Major trends in the forecast period include integration of smart technologies in business travel lodging, technology-driven enhancements, smart room technology, sustainable practices and eco-conscious choices, robotic room service and assistance.

Market Overview -
Business travel lodging refers to the accommodations or lodgings that people or businesses reserve for themselves or their workers when traveling for business. These lodging options offer amenities and services that facilitate a productive and comfortable stay for individuals traveling for work purposes.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=12668&type=smp

Business Travel Lodging Market Set To Thrive Amidst Tourism Booms
The growth of the travel and tourism industries is expected to propel the growth of the business travel lodging market going forward. The travel and tourism industry refers to a large sector that includes people who travel to other places, either nationally or internationally, as well as various activities, services, and businesses related to travel, tourism, and hospitality. Business travel lodging in tourism destinations provides several benefits for professionals, such as accessibility to tourist attractions, improved work-life balance, and networking in a relaxed setting. For instance, in July 2022, according to the International Trade Administration, a US-based Intergovernmental organization, the total non-resident international visitor flow in the United States increased to 5,210,752, with an increase of 160.8% from July 2021. Therefore, the growth of the travel and tourism industries is driving the growth of the business travel lodging market.

Competitive Landscape -
Major companies operating in the business travel lodging market report are American Express Company, Marriott International Inc., Booking.com, Priceline, Booking Holdings Inc., Hilton Worldwide Holdings Inc., Carlson Wagonlit Travel, Holiday Inn Express, Best Western International Inc., Four Seasons Hotels Limited, Radisson Hospitality AB, InterContinental Hotels Group, BCD Group, Hyatt Hotels Corporation, Accor SA, Agoda, Pullman Hotels and Resorts, TripAdvisor Inc., Wyndham Hotels and Resorts, Choice Hotels International Inc., Ritz Carlton Hotels LLC, Kayak, Mandarin Oriental Hotel Group, Kesari Tours Pvt Ltd., Extended Stay America Inc., Fairmont Hotels and Resorts, Candlewood Suites, Travelers Haven, Novotel, SevenRooms.

Major Companies Drive Technological Advancements In The Business Travel Lodging Market
Technological advancements are a key trend gaining popularity in the business travel lodging market. Major companies operating in the business travel lodging market are adopting new technologies to sustain their position in the market. For instance, in October 2022, Stayntouch, a US-based enterprise mobile cloud platform, launched Stayntouch 2.0, a cutting-edge technology suite for the hotel industry. This comprehensive offering includes an upgraded cloud property management system (PMS), a guest kiosk, a secure payment gateway, a customizable booking engine, and an easy-to-use channel manager. The suite enables hotels to deliver superior service through mobile platforms, automation, mobile guest check-in, and automated upsells. Stayntouch 2.0 aims to empower hotel operators to take control of the guest experience while simplifying processes and scaling business operations.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/business-travel-lodging-global-market-report

Key Segments -
The business travel lodging market covered in this report is segmented -
1) By Type: Hotels, Motels, Serviced Apartments, Vacation Rentals, Other Types
2) By Price Range: Economy Or Budget, Mid-scale, Upscale Or Luxury
3) By Traveler Type: Solo Travelers, Croup Travelers, Business Travelers, Leisure Travelers
4) By Booking Channel: Online Travel Agencies (OTAs), Direct Booking, Corporate Bookings
5) By Industry: Construction And Engineering, Pharmaceutical And Healthcare, Agriculture Food And Beverage, Hospitality, Business Services And Consulting, Information Technology(IT) And Telecom, Finance And Insurance, Non Profit Organizations, Transport And Logistics, Other Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.