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Global hotel industry retail value from 2010 to 2018 (in billion U.S. dollars)

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Global hotel industry retail value from 2010 to 2018 This statistic shows the global hotel industry retail value from 2010 to 2016 with forecasted figures for the year 2018. The retail value of the global hotel industry was 554.64 billion U.S. dollars in 2016.
Global hotel industry - additional information

Intrinsically linked with the travel and tourism industry, an industry which contributed 7.61 trillion U.S. dollars to the global economy in 2016, the hotel industry is certainly a profitable one. Travelers who are on the road for more than one day need a place to sleep and rest and there are various types of lodging across the world to accommodate for this. Clearly a valuable service, the industry was forecasted to reach around 553.8 billion U.S. dollars in retail value in 2018.

In 2016, the occupancy rate (the share of total rooms available which are occupied or rented at a given time) of hotels in all global regions had generally increased over the past five years, suggesting more demand for the industry. Europe was the region with 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 was 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.

Despite being located in one of the cheapest regions for hotel rates, the most expensive city destination in the world can be found in the United States, New York City, according to travel review site TripAdvisor. Six out of the top ten most expensive city destinations for hotels were in Europe.

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Revenue in billion U.S. dollars
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Revenue in billion U.S. dollars
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Description Source More information
This statistic shows the global hotel industry retail value from 2010 to 2016 with forecasted figures for the year 2018. The retail value of the global hotel industry was 554.64 billion U.S. dollars in 2016.
Global hotel industry - additional information

Intrinsically linked with the travel and tourism industry, an industry which contributed 7.61 trillion U.S. dollars to the global economy in 2016, the hotel industry is certainly a profitable one. Travelers who are on the road for more than one day need a place to sleep and rest and there are various types of lodging across the world to accommodate for this. Clearly a valuable service, the industry was forecasted to reach around 553.8 billion U.S. dollars in retail value in 2018.

In 2016, the occupancy rate (the share of total rooms available which are occupied or rented at a given time) of hotels in all global regions had generally increased over the past five years, suggesting more demand for the industry. Europe was the region with 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 was 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.

Despite being located in one of the cheapest regions for hotel rates, the most expensive city destination in the world can be found in the United States, New York City, according to travel review site TripAdvisor. Six out of the top ten most expensive city destinations for hotels were in Europe.

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Release date
December 2017
Region
Worldwide
Survey time period
2010 to 2016
Supplementary notes
* Figure forecasted in the 2015 publication.
All figures were converted from euros to U.S. dollars using the conversion rate: 1 euro = 1.12218 USD (9/30/2016); 1 euro = 1.18008 USD (9/30/2017).
Includes both the leisure and business travel accommodation market.

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