Hospitality Market Overview

The Hospitality Market Is Expected To Grow At A Significant Growth Rate, And The Analysis Period Is 2022-2028, Considering The Base Year As 2021.

The hospitality market consists of sales of accommodation and food services and related goods by entities (organizations, sole traders or partnerships) that provide customers with lodging and/or prepare meals, snacks, and beverages for immediate consumption. The market covers both accommodation and food services because the two activities are often combined at the same establishment. The hospitality market is segmented into non-residential accommodation services and food and beverage services. Only goods and services traded between entities are included. The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.

Market Dynamics And Growth Factors For Hospitality Market

Drivers:

Ease of International Travel

The rapid growth in the international business and leisure travel boosted the demand for food and beverages, and non-residential accommodations during the historic period. The availability of affordable air travel, agencies to organize trips, government-recognized hotels and resorts and policies such as visa-on-arrival for tourists encouraged international travel, driving growth in the hotel and other travel accommodation industry. This rise in tourism raised the demand for food and beverages, accommodation facilities, thereby driving the market during this period.

Restraint:

Security Concerns

Terrorism has affected tourists’ perceptions with regard to travel and the risks associated with it, so negatively affecting the hospitality industry. In recent years, terrorist acts have targeted tourist sites and places of public interest. For example, Sri Lanka's $4.4 billion tourism industry which accounts for around 5% of the country's GDP was severely affected due to terrorist bombings in April 2019. Terrorism also has indirect effects as all tourists have to pay more to acquire visas and often have to undergo intrusive body scans and lengthy procedures.

Opportunity:

Rapid Technological Development

Advances in technology are changing consumer expectations as well as the way in which the hospitality market conducts its business. Some technologies such as Wi-Fi, digital conference facilities, mobile communication and automation are now seen as basic. For example, near field study (NFC) technology is the next-generation short-range high frequency wireless communication technology that gives users the ability to exchange data between devices. This is ideal for self-check-ins by guests at hotels and also smart room keys. Technology development automates processes and reduces operational costs of hotels and allows them to offer a wider range of services, thus driving the hospitality market.

Segmentation Analysis of Hospitality Market

By Type, Non-Residential Accommodation Services segment consists of sales of non-residential accommodation services and related goods by entities that provide lodging or short-term accommodation for travellers, vacationers, and others. There is a wide range of services provided in this market. Non-residential accommodation services market is further classified into hotel and other travel accommodation, camping and caravanning and students and workers non-residential accommodation. The food and beverage services consists of sales of food and beverage services by entities that provide meals, snacks, and beverages to customer order for immediate on-premises and off-premises consumption. Food and beverage services market is further classified into restaurants and mobile food services, bars and cafes and catering services and food contractors.

By Ownership, the global market is divided into stand-alone and chained. The global market generated the highest revenues for the chain segment, which deals with multiple units, franchises or businesses of the same brand. For example, all of McDonald’s restaurants, a fast-food chain operating in nearly every region of the world, are examples of chain units that own a single brand name.

Regional Analysis of Hospitality Market

The hospitality market in Asia Pacific was the largest in 2020. 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. Europe is projected to generate the highest revenues in the global hospitality market, with the travel and tourism industry driving regional revenues. European countries travel more frequently than others. These tour trips are a combination of business and personal travel. North America's market capitalization is expected to be driven by the United States due to the growing number of international students and career professionals migrating to cities in the country.

COVID-19 Impact Analysis For Hospitality Market

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the hospitality market in 2020 as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these establishments. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, the hospitality market is recovering from the shock as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Top Key Players Covered In Hospitality Market

• Compass group plc
• Starbucks
• Sodexo
• Marriott International
• Aramark corporation
• McDonald's
• Darden Restaurants
• Yum China Holdings Inc.
• Chipotle and Berkshire Hathaway Inc.
• Other Major Players

Recent Industry Developments In Hospitality Market

In March 2022, Indian Hotels Company (IHCL) collaborated with EHL Education Group, Switzerland, and the Confederation of Indian Industry (CII) to provide professional degree courses for hospitality students.

In January 2022, Marriott ho­­­tels and Ori, an architecture and robotics startup, entered a collaboration to work together under Marriott’s design lab to enable customer experience transportation and reimagine space. The collaboration will entail the use of Ori’s products in the hotel’s guest rooms to allow travelers adaptability and flexibility with new room environments.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Type
 3.2 By Ownership

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Hospitality Market by Type
 5.1 Hospitality Market Overview Snapshot and Growth Engine
 5.2 Hospitality Market Overview
 5.3 Non-Residential Accommodation Services
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Non-Residential Accommodation Services: Geographic Segmentation
 5.4 Food And Beverage Services
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Food And Beverage Services: Geographic Segmentation

Chapter 6: Hospitality Market by Ownership
 6.1 Hospitality Market Overview Snapshot and Growth Engine
 6.2 Hospitality Market Overview
 6.3 Chained
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Chained: Geographic Segmentation
 6.4 Standalone
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Standalone: Geographic Segmentation

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Positioning
  7.1.2 Hospitality Sales and Market Share By Players
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Hospitality Industry Concentration Ratio (CR5 and HHI)
  7.1.6 Top 5 Hospitality Players Market Share
  7.1.7 Mergers and Acquisitions
  7.1.8 Business Strategies By Top Players
 7.2 COMPASS GROUP PLC
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Operating Business Segments
  7.2.5 Product Portfolio
  7.2.6 Business Performance
  7.2.7 Key Strategic Moves and Recent Developments
  7.2.8 SWOT Analysis
 7.3 STARBUCKS
 7.4 SODEXO
 7.5 MARRIOTT INTERNATIONAL
 7.6 ARAMARK CORPORATION
 7.7 MCDONALD'S
 7.8 DARDEN RESTAURANTS
 7.9 YUM CHINA HOLDINGS INC.
 7.10 CHIPOTLE AND BERKSHIRE HATHAWAY INC.
 7.11 OTHER MAJOR PLAYERS

Chapter 8: Global Hospitality Market Analysis, Insights and Forecast, 2016-2028
 8.1 Market Overview
 8.2 Historic and Forecasted Market Size By Type
  8.2.1 Non-Residential Accommodation Services
  8.2.2 Food And Beverage Services
 8.3 Historic and Forecasted Market Size By Ownership
  8.3.1 Chained
  8.3.2 Standalone

Chapter 9: North America Hospitality Market Analysis, Insights and Forecast, 2016-2028
 9.1 Key Market Trends, Growth Factors and Opportunities
 9.2 Impact of Covid-19
 9.3 Key Players
 9.4 Key Market Trends, Growth Factors and Opportunities
 9.4 Historic and Forecasted Market Size By Type
  9.4.1 Non-Residential Accommodation Services
  9.4.2 Food And Beverage Services
 9.5 Historic and Forecasted Market Size By Ownership
  9.5.1 Chained
  9.5.2 Standalone
 9.6 Historic and Forecast Market Size by Country
  9.6.1 U.S.
  9.6.2 Canada
  9.6.3 Mexico

Chapter 10: Europe Hospitality Market Analysis, Insights and Forecast, 2016-2028
 10.1 Key Market Trends, Growth Factors and Opportunities
 10.2 Impact of Covid-19
 10.3 Key Players
 10.4 Key Market Trends, Growth Factors and Opportunities
 10.4 Historic and Forecasted Market Size By Type
  10.4.1 Non-Residential Accommodation Services
  10.4.2 Food And Beverage Services
 10.5 Historic and Forecasted Market Size By Ownership
  10.5.1 Chained
  10.5.2 Standalone
 10.6 Historic and Forecast Market Size by Country
  10.6.1 Germany
  10.6.2 U.K.
  10.6.3 France
  10.6.4 Italy
  10.6.5 Russia
  10.6.6 Spain
  10.6.7 Rest of Europe

Chapter 11: Asia-Pacific Hospitality Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Type
  11.4.1 Non-Residential Accommodation Services
  11.4.2 Food And Beverage Services
 11.5 Historic and Forecasted Market Size By Ownership
  11.5.1 Chained
  11.5.2 Standalone
 11.6 Historic and Forecast Market Size by Country
  11.6.1 China
  11.6.2 India
  11.6.3 Japan
  11.6.4 Singapore
  11.6.5 Australia
  11.6.6 New Zealand
  11.6.7 Rest of APAC

Chapter 12: Middle East & Africa Hospitality Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Type
  12.4.1 Non-Residential Accommodation Services
  12.4.2 Food And Beverage Services
 12.5 Historic and Forecasted Market Size By Ownership
  12.5.1 Chained
  12.5.2 Standalone
 12.6 Historic and Forecast Market Size by Country
  12.6.1 Turkey
  12.6.2 Saudi Arabia
  12.6.3 Iran
  12.6.4 UAE
  12.6.5 Africa
  12.6.6 Rest of MEA

Chapter 13: South America Hospitality Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Type
  13.4.1 Non-Residential Accommodation Services
  13.4.2 Food And Beverage Services
 13.5 Historic and Forecasted Market Size By Ownership
  13.5.1 Chained
  13.5.2 Standalone
 13.6 Historic and Forecast Market Size by Country
  13.6.1 Brazil
  13.6.2 Argentina
  13.6.3 Rest of SA

Chapter 14 Investment Analysis

Chapter 15 Analyst Viewpoint and Conclusion

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. HOSPITALITY MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. HOSPITALITY MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. HOSPITALITY MARKET COMPETITIVE RIVALRY
TABLE 005. HOSPITALITY MARKET THREAT OF NEW ENTRANTS
TABLE 006. HOSPITALITY MARKET THREAT OF SUBSTITUTES
TABLE 007. HOSPITALITY MARKET BY TYPE
TABLE 008. NON-RESIDENTIAL ACCOMMODATION SERVICES MARKET OVERVIEW (2016-2028)
TABLE 009. FOOD AND BEVERAGE SERVICES MARKET OVERVIEW (2016-2028)
TABLE 010. HOSPITALITY MARKET BY OWNERSHIP
TABLE 011. CHAINED MARKET OVERVIEW (2016-2028)
TABLE 012. STANDALONE MARKET OVERVIEW (2016-2028)
TABLE 013. NORTH AMERICA HOSPITALITY MARKET, BY TYPE (2016-2028)
TABLE 014. NORTH AMERICA HOSPITALITY MARKET, BY OWNERSHIP (2016-2028)
TABLE 015. N HOSPITALITY MARKET, BY COUNTRY (2016-2028)
TABLE 016. EUROPE HOSPITALITY MARKET, BY TYPE (2016-2028)
TABLE 017. EUROPE HOSPITALITY MARKET, BY OWNERSHIP (2016-2028)
TABLE 018. HOSPITALITY MARKET, BY COUNTRY (2016-2028)
TABLE 019. ASIA PACIFIC HOSPITALITY MARKET, BY TYPE (2016-2028)
TABLE 020. ASIA PACIFIC HOSPITALITY MARKET, BY OWNERSHIP (2016-2028)
TABLE 021. HOSPITALITY MARKET, BY COUNTRY (2016-2028)
TABLE 022. MIDDLE EAST & AFRICA HOSPITALITY MARKET, BY TYPE (2016-2028)
TABLE 023. MIDDLE EAST & AFRICA HOSPITALITY MARKET, BY OWNERSHIP (2016-2028)
TABLE 024. HOSPITALITY MARKET, BY COUNTRY (2016-2028)
TABLE 025. SOUTH AMERICA HOSPITALITY MARKET, BY TYPE (2016-2028)
TABLE 026. SOUTH AMERICA HOSPITALITY MARKET, BY OWNERSHIP (2016-2028)
TABLE 027. HOSPITALITY MARKET, BY COUNTRY (2016-2028)
TABLE 028. COMPASS GROUP PLC: SNAPSHOT
TABLE 029. COMPASS GROUP PLC: BUSINESS PERFORMANCE
TABLE 030. COMPASS GROUP PLC: PRODUCT PORTFOLIO
TABLE 031. COMPASS GROUP PLC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 031. STARBUCKS: SNAPSHOT
TABLE 032. STARBUCKS: BUSINESS PERFORMANCE
TABLE 033. STARBUCKS: PRODUCT PORTFOLIO
TABLE 034. STARBUCKS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 034. SODEXO: SNAPSHOT
TABLE 035. SODEXO: BUSINESS PERFORMANCE
TABLE 036. SODEXO: PRODUCT PORTFOLIO
TABLE 037. SODEXO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 037. MARRIOTT INTERNATIONAL: SNAPSHOT
TABLE 038. MARRIOTT INTERNATIONAL: BUSINESS PERFORMANCE
TABLE 039. MARRIOTT INTERNATIONAL: PRODUCT PORTFOLIO
TABLE 040. MARRIOTT INTERNATIONAL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 040. ARAMARK CORPORATION: SNAPSHOT
TABLE 041. ARAMARK CORPORATION: BUSINESS PERFORMANCE
TABLE 042. ARAMARK CORPORATION: PRODUCT PORTFOLIO
TABLE 043. ARAMARK CORPORATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 043. MCDONALD'S: SNAPSHOT
TABLE 044. MCDONALD'S: BUSINESS PERFORMANCE
TABLE 045. MCDONALD'S: PRODUCT PORTFOLIO
TABLE 046. MCDONALD'S: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 046. DARDEN RESTAURANTS: SNAPSHOT
TABLE 047. DARDEN RESTAURANTS: BUSINESS PERFORMANCE
TABLE 048. DARDEN RESTAURANTS: PRODUCT PORTFOLIO
TABLE 049. DARDEN RESTAURANTS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 049. YUM CHINA HOLDINGS INC.: SNAPSHOT
TABLE 050. YUM CHINA HOLDINGS INC.: BUSINESS PERFORMANCE
TABLE 051. YUM CHINA HOLDINGS INC.: PRODUCT PORTFOLIO
TABLE 052. YUM CHINA HOLDINGS INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 052. CHIPOTLE AND BERKSHIRE HATHAWAY INC.: SNAPSHOT
TABLE 053. CHIPOTLE AND BERKSHIRE HATHAWAY INC.: BUSINESS PERFORMANCE
TABLE 054. CHIPOTLE AND BERKSHIRE HATHAWAY INC.: PRODUCT PORTFOLIO
TABLE 055. CHIPOTLE AND BERKSHIRE HATHAWAY INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 055. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 056. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 057. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 058. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. HOSPITALITY MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. HOSPITALITY MARKET OVERVIEW BY TYPE
FIGURE 012. NON-RESIDENTIAL ACCOMMODATION SERVICES MARKET OVERVIEW (2016-2028)
FIGURE 013. FOOD AND BEVERAGE SERVICES MARKET OVERVIEW (2016-2028)
FIGURE 014. HOSPITALITY MARKET OVERVIEW BY OWNERSHIP
FIGURE 015. CHAINED MARKET OVERVIEW (2016-2028)
FIGURE 016. STANDALONE MARKET OVERVIEW (2016-2028)
FIGURE 017. NORTH AMERICA HOSPITALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 018. EUROPE HOSPITALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 019. ASIA PACIFIC HOSPITALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 020. MIDDLE EAST & AFRICA HOSPITALITY MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 021. SOUTH AMERICA HOSPITALITY MARKET OVERVIEW BY COUNTRY (2016-2028)