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Market size of the global hotel industry from 2014 to 2016 (in billion U.S. dollars)

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Global hotel industry market size 2014-2016 This statistic shows the global hotel industry market size from 2014 to 2016. The retail value of the global hotel industry was 495.17 billion U.S. dollars in 2016.
Global hotel industry - additional information

The global hotel industry comes under the umbrella of the travel and tourism industry, an industry which contributed 7.61 trillion U.S. dollars to the global economy in 2016. 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 2016 at 70.4 percent, closely followed by the Asia Pacific region at 69 percent. In the same year, the Middle East and Africa were the most expensive region for hotels with an average daily rate of 149.02 U.S. dollars. The cheapest region for the last two years was Asia Pacific.
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Market size in billion U.S. dollars
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Market size in billion U.S. dollars
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Description Source More information
This statistic shows the global hotel industry market size from 2014 to 2016. The retail value of the global hotel industry was 495.17 billion U.S. dollars in 2016.
Global hotel industry - additional information

The global hotel industry comes under the umbrella of the travel and tourism industry, an industry which contributed 7.61 trillion U.S. dollars to the global economy in 2016. 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 2016 at 70.4 percent, closely followed by the Asia Pacific region at 69 percent. In the same year, the Middle East and Africa were the most expensive region for hotels with an average daily rate of 149.02 U.S. dollars. The cheapest region for the last two years was Asia Pacific.
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Release date
December 2017
Region
Worldwide
Survey time period
2014 to 2016
Supplementary notes
All figures were converted from euros to U.S. dollars using the conversion rate: 1 euro = 1.05356 USD (12/31/2016).
Includes both the leisure and business travel accommodation market.

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