US Hospitality Market Set to Reach USD 313.87 Billion by 2030, Driven by Leisure Travel and Digital Integration

Mordor Intelligence has published a new report on the US Hospitality Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

Introduction

The US hospitality market is on a steady growth trajectory, with projections indicating a market size of USD 247.45 billion in 2025, expanding to USD 313.87 billion by 2030, at a compound annual growth rate (CAGR) of 4.87%, underscores the sector's resilience and adaptability in the face of evolving consumer preferences and economic landscapes.

Encompassing lodging, food and beverage services, event planning, entertainment, and tourism, the US hospitality sector has witnessed robust growth in recent years. Factors such as strong consumer spending, low unemployment, and a surge in both domestic and international travel have contributed to this upward trend.

Report Overview: https://www.mordorintelligence.com/industry-reports/hospitality-industry-in-the-united-states?utm_source=openpr

Key Trends

Leisure Travel Leading the Recovery

Leisure travel has rebounded swiftly, outpacing business travel in the post-pandemic recovery phase. Consumers have shown a preference for domestic destinations and outdoor experiences, influencing the recovery paths of hotels, resorts, vacation rentals, and outdoor recreational businesses.

Digital Platforms Enhancing Guest Experiences

Technology has emerged as a significant driver in the hospitality sector. Digital platforms facilitating bookings, contactless payments, and personalized guest experiences have become integral. Restaurants and hotels have embraced technology to bolster online ordering and contactless payment systems, prioritizing customer safety and convenience.

Rise in Hotel Occupancy Rates

The demand for hotel occupancy in the United States has been propelled by various factors, including business and leisure travel, events, and conventions. Economic conditions, consumer confidence, and evolving travel patterns have further influenced hotel occupancy growth. Cities like New York, Las Vegas, Orlando, Los Angeles, Miami, and San Francisco have vibrant hotel markets, contributing to higher occupancy rates and increased revenue for hotels.

Market Segmentation

The US hospitality market is segmented by type and segment, reflecting the diverse preferences of consumers.

By Type:

Chain Hotels: These establishments benefit from brand recognition and standardized services, attracting a broad customer base.

Independent Hotels: Often characterized by unique offerings and personalized services, catering to niche markets.

By Segment:

Service Apartments: Catering to long-stay guests seeking home-like amenities.

Budget and Economy Hotels: Providing affordable accommodation options without compromising essential services.

Mid and Upper Mid-Scale Hotels: Offering a balance between comfort and affordability, appealing to a wide demographic.

Luxury Hotels: Targeting high-end travelers with premium services and amenities.

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Key Players

Several major companies operate within the US hospitality market, each contributing to the sector's growth and diversity. Notable players include:

Marriott International

Hilton Worldwide

Wyndham Hotels & Resorts

InterContinental Hotels Group (IHG)

Choice Hotels International Inc.

These companies have established a significant presence in the market, offering a range of services and accommodations to meet varying consumer needs.

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Conclusion

The US hospitality market is poised for sustained growth, driven by factors such as the resurgence of leisure travel, technological integration, and diverse accommodation offerings. As consumer preferences continue to evolve, the industry's adaptability and commitment to enhancing guest experiences will be pivotal in maintaining its upward trajectory.

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Industry Related Reports

Singapore Hospitality Market: Singapore Hospitality Market is Segmented by Type (chain Hotels and Independent Hotels) and by Segment (service Apartments, Budget, and Economy Hotels, Mid and Upper Mid-Scale Hotels, and Luxury Hotels).

Get more insights: https://www.mordorintelligence.com/industry-reports/hospitality-industry-in-singapore?utm_source=openpr

Germany Hospitality Market: Germany Hospitality Market is segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid- and Upper Mid-scale Hotels, and Luxury Hotels).

Get more insights: https://www.mordorintelligence.com/industry-reports/hospitality-industry-in-germany?utm_source=openpr

Morocco Hospitality Market: Morocco Hospitality Market is Segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid- and Upper Mid-Scale Hotels, and Luxury Hotels).

Get more insights: https://www.mordorintelligence.com/industry-reports/hospitality-industry-in-morocco?utm_source=openpr


Austria Hospitality Market: Austria Hospitality Market is Segmented by Type (Chain Hotels and Independent Hotels), by Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid-Scale Hotels and Luxury Hotels).

Get more insights: https://www.mordorintelligence.com/industry-reports/hospitality-industry-in-austria?utm_source=openpr

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This release was published on openPR.