Hospitality can be defined somewhat broadly as an industry that focuses on providing consumers with a means to participate in leisure activities, be that staying in a hotel or dining in a restaurant. It encompasses many industries, the largest of which are accommodation and food and drink services. In 2023, the global hospitality market reached over 4.7 trillion U.S. dollars and was forecast to grow to around 5.5 trillion U.S. dollars in 2024.

The Report Covers US Hospitality Industry Trends, Overview and the 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)

Explore the Hospitality Market trends! Covers key players, growth rate 6.1% CAGR, market size $7239.02 Billion, and forecasts to 2034. Get insights now!

[226+ Pages Report] The global Hospitality market size is expected to grow from USD 3953 billion in 2021 to USD 6716.3 billion by 2028, at a CAGR of 10.24% from 2022-2028

The United States' Bureau of Labor Statistics accounted for 16.82 million people working in the hospitality and leisure industry in the U.S. as of December 2023. This figure shows an increase over the previous year. Employment in the U.S. hospitality and leisure industry showed consistent growth since 2009, however, this changed in 2020 where there was a sharp decline due to the coronavirus (COVID-19) pandemic.

The Hospitality Market in India is Experiencing Growth Due To the Country's Rich Culture and Diversity, Attracting Global Guests. The Service Sector, Known for Spiritual Tourism, Has Seen A Rise in Domestic Travel, Driven by A Growing Middle Class and Increased Disposable Income. Innovations in Accommodation Like Airbnb and Oyo Rooms Offer Cost-Effective Stays, While the Government Develops Ports As Cruise Tourism Hubs, Providing Hotel Services, Retail, and Restaurants. The Hotel Industry is Expanding With New Projects From International Chains, Driven by Increased Travel and Government Efforts To Boost Tourism.

This statistic shows the global hotel industry market size from 2014 to 2018. The retail value of the global hotel industry was 600.49 billion U.S. dollars in 2018.

Global hotel industry - additional information

The global hotel industry comes under the umbrella of the travel and tourism industry, an industry which contributed 8.81 trillion U.S. dollars to the global economy in 2018. Travelers who are on the road for more than a day need a place to sleep and rest - there are various types of lodging across the world to accommodate for this.

The global occupancy rate (the share of total rooms available which are occupied or rented at a given time) of hotels in most regions increased over the previous five years. Europe had the highest occupancy rate in 2018 at 72.4 percent, closely followed by the Asia Pacific region with 70.6 percent. In the same year, the Middle East and Africa were the most expensive region for hotels with an average daily rate of 140.97 U.S. dollars. The cheapest region for the last five years was Asia Pacific.

United States Hospitality Market size was valued at USD 223.93 Billion in 2024 and is projected to reach USD 250.45 Billion by 2032, growing at a CAGR of 4.87% from 2025 to 2032.

United States Hospitality Market Dynamics

The key market dynamics that are shaping the United States hospitality market include:

Key Market Drivers

Growing Demand for Unique and Personalized Experiences: There is a rising demand for tailored and personalized services in the hospitality industry. Travelers increasingly seek unique experiences that cater to their individual preferences, driving the need for custom-made packages, bespoke services, and immersive local experiences. According to the American Hotel & Lodging Association, 70% of consumers consider personalization an essential factor when choosing accommodation and services.

Rise in Domestic and International Travel: With the easing of pandemic-related restrictions, there has been a sharp increase in both domestic and international travel.

The Hospitality Industry Report in Brazil is Segmented by Type (Chain Hotels, Independent Hotels, and Service Apartments, ) and Segment (Budget and Economy Hotels, Mid and Upper Mid-Scale Hotels, and Luxury Hotels). The Market Size and Forecasts for the Hospitality Industry in Brazil are Provided in Terms of Value (USD) for all the Above Segments.

Explore the State Of The Hospitality Market trends! Covers key players, growth rate 15.5% CAGR, market size $8206.69 Billion, and forecasts to 2033. Get insights now!

The Russia hospitality market size is projected to exhibit a growth rate (CAGR) of 4.99% during 2025-2033. An increase in domestic tourism and government support, expansion of various luxury hotel chains, and rising development of several eco-hotels and green-certified properties promoting sustainable hospitality are some of the factors impelling the growth of the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type and segment.

Global smart hospitality market was estimated at USD 10.71 billion in 2021 and is projected to grow at a CAGR of 29.79% during the forecast period.

Luxury spending in the global hospitality market grew by three to five percent when comparing 2023 data with 2019. Hospitality ranked as the third most valuable luxury market worldwide in 2023, with a total value of around 213 billion euros.

Success.ai’s Tourism Data for the Global Hospitality Sector offers a robust and reliable dataset tailored for businesses aiming to connect with professionals and organizations in the global tourism and hospitality industry. Covering roles such as hotel managers, travel consultants, tour operators, and decision-makers, this dataset provides verified profiles, business insights, and actionable data.

With access to over 700 million verified profiles globally, Success.ai ensures your marketing, outreach, and strategic initiatives are powered by accurate, continuously updated, and AI-validated data. Backed by our Best Price Guarantee, this solution is ideal for thriving in the competitive and dynamic global hospitality market.

Why Choose Success.ai’s Tourism Data?

1. Verified Profiles for Precision Outreach

   • Access verified business locations, employee counts, work emails, and decision-maker profiles in the global tourism and hospitality sector.
   • AI-driven validation ensures 99% accuracy, enhancing engagement and reducing inefficiencies in communication.

2. Comprehensive Global Coverage

   • Includes hospitality professionals and businesses from top tourism hubs such as North America, Europe, Asia-Pacific, the Middle East, and Africa.
   • Gain insights into regional hospitality trends, customer preferences, and emerging tourism markets.

3. Continuously Updated Datasets

   • Real-time updates ensure the accuracy of professional profiles, business expansions, and organizational changes.
   • Stay ahead of industry trends to capitalize on new opportunities in the hospitality sector.

4. Ethical and Compliant

   • Fully adheres to GDPR, CCPA, and other global data privacy regulations, ensuring responsible and lawful data usage.

Data Highlights:

• 700M+ Verified Global Profiles: Access tourism and hospitality data for professionals and organizations worldwide.
• Verified Contact Details: Gain work emails, phone numbers, and decision-maker profiles for targeted engagement.
• Business Insights: Understand employee counts, geographic locations, and operational details of hospitality businesses.
• Leadership Profiles: Connect with hotel executives, travel agency leaders, and tour company managers driving the global tourism sector.

Key Features of the Dataset:

1. Comprehensive Hospitality Profiles

   • Identify and connect with key players in hotels, resorts, travel agencies, and tour operators worldwide.
   • Target professionals managing operations, customer experience, and business strategy in the tourism industry.

2. Advanced Filters for Precision Campaigns

   • Filter businesses and professionals by location, industry focus (hotels, travel agencies, tour operators), or job roles.
   • Tailor campaigns to align with specific needs, such as marketing strategies, software adoption, or customer engagement.

3. Regional and Industry-specific Insights

   • Leverage data on global tourism trends, customer preferences, and market growth in hospitality.
   • Refine strategies to align with specific geographic or sector-specific opportunities.

4. AI-Driven Enrichment

   • Profiles enriched with actionable data allow for personalized messaging, highlight unique value propositions, and improve engagement outcomes.

Strategic Use Cases:

1. Marketing Campaigns and Outreach

   • Promote travel solutions, hospitality software, or customer engagement tools to professionals in the tourism sector.
   • Use verified contact data for multi-channel outreach, including email, phone, and digital campaigns.

2. Partnership Development and Collaboration

   • Build relationships with travel agencies, hotel chains, and tour operators exploring strategic alliances.
   • Foster collaborations that enhance customer experiences, expand market reach, or improve operational efficiencies.

3. Market Research and Competitive Analysis

   • Analyze global tourism trends, hospitality demands, and emerging markets to refine strategies.
   • Benchmark against competitors to identify growth opportunities and high-demand solutions.

4. Recruitment and Workforce Optimization

   • Target HR professionals and hiring managers recruiting for hospitality roles, from hotel managers to travel consultants.
   • Provide workforce management platforms or training solutions tailored to the hospitality industry.

Why Choose Success.ai?

1. Best Price Guarantee

   • Access premium-quality tourism and hospitality data at competitive prices, ensuring strong ROI for your marketing, sales, and strategic initiatives.

2. Seamless Integration

   • Integrate verified data into CRM systems, analytics tools, or marketing platforms via APIs or downloadable formats, enhancing productivity and simplifying workflows.

3. Data Accuracy with AI Validation

   • Rely on 99% accuracy to guide data-driven decisions, refine targeting, and imp...

The Italy hospitality market size is projected to exhibit a growth rate (CAGR) of 3.40% during ​2024-2032​. The market is experiencing significant growth mainly driven by sustainable tourism, luxury experiences and rich cultural heritage. Increasing technological integration, along with the rising focus on health and wellness is enhancing guest experiences, thereby driving the market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on type and segment.

The Hospitality Market in the UK is Dynamic and Competitive, With A Mix of Domestic and International Brands in the Hotel and Restaurant Sectors. Despite Brexit Uncertainties, The Tourism Sector Saw Increased Investments in 2021, Particularly in London, Due To Rising Travel and Demand for New Accommodation. This Growth is Attracting Investors To Service Apartments, Shared Spaces, and Over 88 New Hotel Projects. Major Players in the Leisure and Entertainment Market Include Whitbread Group, Intercontinental Hotels Group, Travelodge, Accor SA, and Marriott International, Inc.

The Indonesia hospitality market, valued at USD 16.5 billion, driven by growth in international tourism, domestic travel, and government-led initiatives.

The size of the MENA Hospitality Market was valued at USD 262.88 USD Billion in 2023 and is projected to reach USD 419.10 USD Billion by 2032, with an expected CAGR of 6.89% during the forecast period. The term MENA hospitality refers to the hospitality industry in the MENA (Middle East and North Africa) region, a diverse and rapidly evolving sector characterized by its unique blend of cultural influences, luxurious offerings, and significant economic potential. The MENA region comprises countries such as Saudi Arabia, the UAE, Qatar, Egypt, Morocco, and others, each with distinct cultural, religious, and historical backgrounds. As one of the fastest-growing regions in the global hospitality market, MENA hospitality encompasses a wide range of services, from high-end luxury hotels and resorts to local guesthouses, restaurants, and entertainment complexes. This growth is primarily attributed to the burgeoning tourism sector, increasing disposable incomes, government initiatives to promote tourism, and the growing popularity of staycations. Moreover, rising awareness of the region's rich cultural heritage, coupled with the expansion of the luxury hospitality segment, is further propelling market expansion. Recent developments include: April 2024: Rotana, an Abu Dhabi, UAE-based hotel company, launched its new hotel, Dar Rayhaan, by Rotana in Al Khobar, Saudi Arabia. According to the company, the new hotel features 13 rooms and 20 suites with a 24-hour gymnasium, outdoor swimming pool, and complimentary private parking., January 2024: IHG Hotels & Resorts, a Denham, U.K.-based hotel chain, in partnership with Firdous Abha Hotel Holding Company and Aleph Hospitality, signed a franchise agreement for a new-build 110 rooms boutique hotel, Hotel Indigo Abha, in Saudi Arabia., November 2023: Minor Hotel, a Thailand-based hotel company, announced the launch of its new luxury resort, Anantara Santorini Abu Dhabi Retreat in UAE. According to the company, the new resort will expand its portfolio across the region., August 2022: Waldorf Astoria Hotels & Resorts, a brand of Hilton hotels, made its debut in Kuwait by launching a luxury hotel with 200 deluxe rooms and suites, Waldorf Astoria Kuwait., March 2022: Taj, a brand of Indian Hotel Company, launched its new Taj Exotica Resort & Spa, The Palm, in Dubai. According to the company, the new hotel features 325 rooms and suites with Jiva Spa and various culinary experiences.. Key drivers for this market are: Increasing Popularity of Religious Tourism to Encourage New Players’ Entry. Potential restraints include: Increasing Popularity of Religious Tourism to Encourage New Players’ Entry. Notable trends are: Increasing Popularity of Religious Tourism to Encourage New Players’ Entry.

Mexico Hospitality Market size was valued at USD 26 Billion in 2024 and is projected to reach USD 46 Billion by 2032, growing at a CAGR of 7.74% from 2025 to 2032.

Growing International Tourism Recovery and Expansion: Mexico has had a spectacular recovery and rise in international travel, which is fuelling the expansion of the hotel sector. According to the Mexican Ministry of Tourism (SECTUR), international tourist arrivals will reach 38.3 million in 2023.

Increasing Domestic Tourism and Business Travel: Domestic tourism has emerged as a key driver of Mexico’s hospitality market growth. Domestic tourists took 260 million journeys within Mexico in 2023, up 28% from 2019.

Investment in Tourism Infrastructure and Hotel Development: Significant expenditures in tourism infrastructure and hotel construction are fuelling market expansion. The National Fund for Tourism Development (FONATUR) reports an investment of USD 8.2 billion in tourism infrastructure projects between 2020 and 2023.

Hospitality Market was valued at USD 4674 Billion in 2023 and is projected to reach USD 6190 billion by 2031, at a CAGR of 5.5% from 2024 to 2031.

Global Hospitality Market Drivers

The market drivers for the Hospitality Market can be influenced by various factors. These may include:

Economic Growth: Travel and tourism are impacted by the general state of a region or nation’s economy. Robust economies typically result in higher discretionary expenditure on travel and lodging.
Technological Advancements: Consumer preferences and industry operations are shaped by technological innovations like as smartphone applications, online booking platforms, and smart room features.
Changing Demographics: The services and experiences that visitors want to have are influenced by changes in the demographics, such as the emergence of millennials and their desire for immersive travel.
Globalization: As a result of growing interconnection and globalization, the hospitality industry now operates on a larger scale, drawing tourists from around the world and encouraging cross-cultural interactions.
Environmental Sustainability: As people become more conscious of environmental issues, they look for eco-friendly lodging and activities. In order to be competitive, hospitality businesses need to adopt sustainable practices.
Regulatory Environment: Travel convenience and the operations of hospitality firms are impacted by government rules and regulations, including those pertaining to taxes, safety standards, and visa restrictions.
Social Trends: The hospitality industry is shaped by shifting society trends including the sharing economy, the demand for individualized experiences, and travel that emphasizes health and wellness.
Rivalry and Industry Consolidation: As businesses fight to keep their market share and profitability, growing rivalry in the hospitality industry, along with mergers and acquisitions, spurs innovation and restructuring.