The Business Research Company’s Business Travel Lodging Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Business Travel Lodging Global Market Report 2023 evaluates business travel lodging market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global business travel lodging market is expected to grow from $334.42 billion in 2022 to $357.35 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The business travel lodging market is expected to reach $447.96 billion in 2027 at a CAGR of 5.8%.
The growth of the travel and tourism industries is expected to propel the growth of the business travel lodging market going forward. The travel and tourism industry refers to a large sector that includes people who travel to other places, either nationally or internationally, as well as various activities, services, and businesses related to travel, tourism, and hospitality. Business travel lodging in tourism destinations provides several benefits for professionals, such as accessibility to tourist attractions, improved work-life balance, and networking in a relaxed setting. For instance, in July 2022, according to the International Trade Administration, a US-based Intergovernmental organization, the total non-resident international visitor flow in the United States increased to 5,210,752, with an increase of 160.8% from July 2021. Therefore, the growth of the travel and tourism industries is driving the growth of the business travel lodging market.
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The Business Travel Lodging Market Segments In The Report Are:
Business Travel Lodging By Type:
Hotels
Motels
Serviced Apartments
Vacation Rentals
Other Types
Business Travel Lodging By Price Range:
Economy Or Budget
Mid-scale
Upscale Or Luxury
Business Travel Lodging By Traveler Type:
Solo Travelers
Croup Travelers
Business Travelers
Leisure Travelers
Business Travel Lodging By Booking Channel:
Online Travel Agencies (OTAs)
Direct Booking
Corporate Bookings
Business Travel Lodging By Industry:
Construction And Engineering
Pharmaceutical And Healthcare
Agriculture Food And Beverage
Hospitality, Business Services And Consulting
Information Technology(IT) And Telecom
Finance And Insurance
Non Profit Organizations
Transport And Logistics
Other Industries
Top Key Players:
American Express Company
Marriott International Inc.
Booking.com
Priceline
Booking Holdings Inc.
The table of contents in TBRC’s business travel lodging market report includes:
1. Executive Summary
2. Business Travel Lodging Market Characteristics
3. Business Travel Lodging Market Trends And Strategies
4. Business Travel Lodging Market – Macro Economic Scenario
5. Global Business Travel Lodging Market Drivers and Restraints
…..
32. Global Business Travel Lodging Market Competitive Benchmarking
33. Global Business Travel Lodging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Business Travel Lodging Market
35. Business Travel Lodging Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Business Travel Lodging Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Business Travel Lodging Market, Segmentation By Price Range, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Business Travel Lodging Market, Segmentation By Traveler Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
…..
Table 76: American Express Company Financial Performance
Table 77: Marriott International Inc. Financial Performance
Table 78: Booking.com Financial Performance
Table 79: Priceline Financial Performance
Table 80: Booking Holdings Inc. Financial Performance
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