Hotel Industry Note Arthur I Segel Daniel Woodbury Michael Horowitz 2015
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The hotel industry is constantly evolving and is rapidly increasing globally. A global study by industry watchers revealed that the industry was valued at $1.3 trillion in 2014 and is projected to grow at 3.5% annually until 2020. In this research note, I have analyzed the global hotel industry and provided my forecast of the industry’s future outlook. I have used both historical and projected data to generate insights and recommendations for hotel owners and operators. Global Hotel Market Analysis
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Brief Background Hotel industry consists of various types of accommodations, from luxury to budget, including business class and economy. Many companies have been trying to optimize their prices, by reducing the costs and increasing the revenue, to stay profitable. you can look here One of the industries that has seen immense growth in recent years is the hospitality industry. In 2014, the industry grew 6% and is expected to grow 7.1% by 2020, according to a report by Statista. The major players are IHG,
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In recent years, the hotel industry has undergone significant changes due to numerous factors. With the advent of technology, the industry has evolved from a service-oriented industry to a service-driven industry. This change has led to a significant shift in marketing strategies of the industry. The hotel industry is an industry that is heavily reliant on a well-targeted marketing campaign. This marketing campaign can be a significant factor in determining the success of the business. The marketing strategies of the hotel industry aim to differentiate the hotel from its competitors
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