Statistics and Facts on the Hotel Industry
The global hotel industry generated approximately 457 billion U.S. dollars in revenue in 2011. About one third of the industry’s total revenue was earned in the United States
, making it the biggest market in the world. With more than 4.88 million hotel rooms available throughout the United States, room revenue is the largest revenue stream of the hotel industry, making up about 90 percent of the industry’s total revenue.
Hotels are generally subdivided into the following two categories: independent/unaffiliated hotels and chain hotels. Chain hotels are owned or affiliated with hotel companies and make up about two thirds of the U.S. market. An example of one of these hotel companies is the InterContinental Hotels Group (IHG). IHG is one of the major players in the market
with almost 4,500 hotels worldwide (more than 3,000 in the United States) and a gross revenue of 20 billion U.S. dollars.
Chain hotels are broken down into six categories: luxury, upper upscale, upscale, upper midscale, midscale and economy. These subcategories, which are based on actual average room rates, are used to classify branded hotels. Upper midscale is the largest chain hotel segment
in the United States. In 2011, 15,600 rooms were added to the upper midscale segment, bringing the total up to 865 thousand.
The average daily rate
among all six chain hotel categories, within the United States, was about 101.71 U.S. dollars in 2011.
The occupancy rate
and revenue per available room (RevPar)
are two other valuable benchmarks when assessing the state of the hotel industry.