Global market size of the hospitality industry 2020-2021

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 2020, the global hospitality market reached 3486.77 billion U.S. dollars and was forecast to grow to 4132.5 billion U.S. dollars in 2021 at a compound annual growth rate (CAGR) of 18.5 percent.

What are the leading hotel brands worldwide?

In 2020, the leading hotel brands worldwide were ranked according to brand value. Hilton Hotels & Resorts was the most valuable hotel brand that year, with a global brand value of approximately 10.83 billion U.S. dollars. Other major hotel brands in the ranking included Marriott, Holiday Inn, and Hyatt. The sales revenue of Hilton worldwide in 2020 was 4.3 billion U.S. dollars.

Which region has the highest RevPAR worldwide?

When looking at revenue per available room of the hotel industry worldwide, by region, European hotels had an average RevPAR of 93.71 U.S. dollars. This shows a drop when compared to the previous year's total of over a hundred U.S. dollars. That being said, Europe still had the highest RevPAR worldwide that year. In contrast, the Asia Pacific region produced the lowest.