Statistics & Facts on the Hotel and Lodging Industry
The global hotel industry was forecasted to generate 550 billion U.S. dollars in revenue in 2016. The hotel company contributing the most to this figure was the British hotel chain InterContinental Hotels Group which, in 2015, made 24 billion U.S. dollars in over 4,800 hotels worldwide. Other major players in this industry include Hilton Worldwide and Marriott International with 4,278 and 4,424 hotels, respectively, across the world.
Important performance measures for the hotel industry are the average daily rate (ADR), the revenue per available room (RevPAR), and the occupancy rate of a hotel. In order to achieve the most accurate performance indication, these benchmarks should be analyzed together. In February 2017, the highest occupancy rate in the world was seen in the Asia Pacific region at 68.7 percent. In the same month, both the highest ADR and the highest RevPAR were seen in the Middle East and Africa.
Despite having one of the lowest occupancy rates in the world in the first month of 2017 (the occupancy rate in the Americas was just 54.1 percent at this time), the hotel industry in the United States has grown annually over previous years, peaking at almost 190 billion U.S. dollars in 2015. The U.S. is home to some world's most famous city destinations, which likely have an impact on the country's tourism and hotel industries. The most expensive city for hotel rates in the U.S. was Boston in 2016, followed New York and San Francisco.
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