Hotel and Restaurant Market | United States

Given the current demand and influx of travellers, the hospitality industry is projected to post a strong growth globally. The global hospitality industry is currently pegged at USD 534 billion in 2014 and is forecasted to grow at a strong CAGR of 4% and is projected to reach USD 702.7 billion. With more travellers opting for discount packages and package tours, the hospitality segment is expected to post a good growth, with year on year growth poised to surpass its current forecasted growth rate.

The US is one of the largest revenue generating countries and accounts for a significant share of today’s global hospitality industry. The hotel and restaurants market in the US was pegged at USD 189.7 billion in 2015 and is poised to grow at a CAGR of 4.4%. The current occupancy rate stands at 65.5% which is the highest seen in this segment of the US market since 2001. This only indicates that the hospitality market is indeed strong and poised to grow even further.

Some of the main drivers behind the current growth in the hospitality industry happen to be the recently implemented discount travel packages, lowered airfares, special room rates and much more. Moreover, with an increasingly affluent middle class, the hospitality industry is expected to post stronger growth in the near future. With both revenues and room occupancy poised to grow even further, it is predicted that the hospitality industry will surpass its current forecasted figure in the near short term

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"Best Western International "

  • Country : United States
  • Turnover : USD 296 million
  • Position : Operates over 4100 hotels and motels in over 100 countries across the world and features government, military, and senior discount packages

DruryHotels

  • Country : United States
  • Turnover : USD 514 million
  • Position : Is an American hospitality service-based company featuring premium hotels at exotic locations with no additional charges for extra services.

Choice Hotels

  • Country : United States
  • Turnover : USD 924.6 million
  • Position : An American hospitality company offering travel destinations and lodging for tourists with sensory problems and other physical disabilities.

Omni Hotels

  • Country : United States
  • Turnover : USD 971 million
  • Position : "An international luxury company featuring top-of-the-line luxury hotels, resorts, and attractive AAA-vacation packages. "

Four SeasonsHotels and Resorts

  • Country : Canada
  • Turnover : USD 4 billion
  • Position : "Features rich destinations, premium hotels and resorts, and exclusive travel jet access to all customers. "

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