The Hospitality Buildings Global Market Report 2023, provides comprehensive information on the hospitality buildings market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global hospitality buildings market size is expected to grow from $73.34 billion in 2022 to $77.34 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hospitality buildings market size is expected to reach $90.31 billion in 2027 at a CAGR of 4.0%.
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Product innovations are a key trend gaining popularity in the hospitality buildings market. Major market players are concentrating their efforts on innovating new building architecture to strengthen their position in the market. For instance, in January 2023, Volumetric Building Companies, a US-based construction firm specializing in modular housing, launched the first modular prototype of a new hotel architecture that will let the Fairfield by Marriott brand (a hotel brand) spread faster throughout Europe. The application of innovative modular technology will assist developers in overcoming some of their difficulties by accelerating construction, improving acoustics with reduced noise transfer between modules, and improving quality.
The hospitality buildings market is segmented:
1) By Hotel Type: Business Or Commercial Hotels, Boutique Hotels, Resort Hotels, Casino Hotels, Transit Hotels, Bed And Breakfast Hotels, Other Types
2) By Price Level: Luxury, Upscale, Midscale, Economy
3) By Room Capacity: Small, Medium, Large, Mega
4) By Business Model: Individual, Chain
North America was the largest region in the hospitality buildings market in 2022.
The table of contents in TBRC’s hospitality buildings market report includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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