Global hotel industry market size 2014-2018

This statistic shows the global hotel industry market size from 2014 to 2018. The retail value of the global hotel industry was 600.49 billion U.S. dollars in 2018.

Global hotel industry - additional information

The global hotel industry comes under the umbrella of the travel and tourism industry, an industry which contributed 8.81 trillion U.S. dollars to the global economy in 2018. 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 2018 at 72.4 percent, closely followed by the Asia Pacific region with 70.6 percent. In the same year, the Middle East and Africa were the most expensive region for hotels with an average daily rate of 140.97 U.S. dollars. The cheapest region for the last five years was Asia Pacific.

Market size of the global hotel industry from 2014 to 2018

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Sources

Release date

December 2019

Region

Worldwide

Survey time period

2014 to 2018

Supplementary notes

Figures were converted from euros to U.S. dollars using the conversion rates:
2017: 1 EUR - 1.19786 USD (12/31/2017)
2018: 1 EUR - 1.14379 USD (12/31/2018)
Conversion rates for other years were unavailable.
Includes both the leisure and business travel accommodation market.

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Statistics on "Hotels worldwide"

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