Economic Growth Fuels Expansion In The Hospitality Market: Strategic Insights Driving Hospitality Market Momentum in 2025

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

How Large Will the Hospitality Market Size By 2025?
In recent years, the hospitality industry has seen significant growth in its market size. It is projected to expand from $5244.22 billion in 2024 to $5523.92 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%. Factors such as increases in travel and tourism, cultural and societal changes, global occurrences including pandemics, and investment in infrastructure have contributed to the growth during the historic period.

How Big Is the Hospitality Market Size Expected to Grow by 2029?
Anticipated robust growth in the hospitality market size is on the horizon for the coming years. This sector is predicted to expand to "$7011.13 billion in 2029 with a compound annual growth rate (CAGR) of 6.1%. Drivers of growth throughout this forecast period include sustainability efforts, wellness tourism, flexible booking facilities, collaboration with native communities, and adherence to health and safety protocols. Important trends within this interval are poised to be personalization with AI, the embrace of contactless technologies, technological progression, tailored guest experiences, along with the pull of digital marketing and the sway of social media.

View the full report here:
https://www.thebusinessresearchcompany.com/report/hospitality-global-market-report

Which Key Market Drivers Powering Hospitality Market Expansion and Growth?
The growth in the hospitality market is facilitated by the predicted steady economic growth in numerous developed and developing nations. For example, the Bureau of Economic Analysis, a US government agency, stated in September 2023 that the real gross domestic product (GDP) saw a yearly increase of 2.1% in the second quarter of 2023. The market growth is also anticipated to benefit from the recovery of commodity prices, following their significant drop in the historical period. Developed economies are projected to maintain stable growth throughout the predicted period. Moreover, it is expected that emerging markets will grow slightly faster than developed markets during the same period. Therefore, steady economic growth is anticipated to propel the market throughout the forecast period.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3599&type=smp

What Are the Key Trends Driving Hospitality Market Growth?
Technological advancements are being utilized by hotels to enhance the customer experience. Certain technologies have led to substantial enhancements and cost savings in the hospitality industry. The dominant trends in this market involve the utilization of near field communication (NFC) technology, infrared technologies, and robots. NFC enables data exchange between devices, streamlining mobile payments into an immediate, secure procedure. Hotels utilize infrared sensors to tackle customer grievances relating to housekeeping disturbances. Moreover, hotels are leveraging robots for delivering amenities to guest rooms and various other practical applications. Hotel proprietors are channeling investments into systems and infrastructural technologies that can automate operations and customize the guest experience.

What Are the Emerging Segments in the Hospitality Market?
The hospitality market covered in this report is segmented -

1) By Type: Non-Residential Accommodation Services Food And Beverage Services
2) By Ownership: Chained Standalone

Subsegments:
1) By Non-Residential Accommodation Services: Hotels And Motels Hostels Vacation Rentals Bed And Breakfasts Resorts Serviced Apartments
2) By Food And Beverage Services: Full-Service Restaurants Fast Food Restaurants Cafés And Coffee Shops Catering Services Bars And Pubs Food Trucks And Stands

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=3599&type=smp

Who Are the Global Leaders in the Hospitality Market?
Major companies operating in the hospitality market include Compass Group Holdings plc, Starbucks Corporation, Sodexo SA, Marriott International Inc., Aramark Corporation, Four Seasons Hotels and Resorts Limited, Darden Restaurants Inc., Yum China Holdings Inc., Hilton Worldwide Holdings Inc., Chipotle Mexican Grill Inc., InterContinental Hotel Group plc, IDeaS Revenue Solutions Inc., The Ritz-Carlton Hotel Company LLC, Mandarin Oriental Hotel Group Ltd., Radisson Hotel Group AB, Extended Stay America Inc., AIR Communities LLC, Rosewood Hotel Group LLC, La Quinta Inns & Suites Holdings Inc., Apple Leisure Group LLC, Evolve Vacation Rental Network Inc., Shangri-La Hotels and Resorts Ltd., American Cruise Lines Inc., Ennismore Lifestyle Group Limited, Hotel Engine Inc., OTA Insight Limited, Red Lion Hotels Corporation, Mint House Holdings Inc.

Which are the Top Profitable Regional Markets for the Hospitality Industry?
Asia-Pacific was the largest region in the hospitality market in 2024. North America was the second largest region in the hospitality market. The regions covered in the hospitality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3599

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.