2019 Hospitality Industry – UK, USA and APAC Regional Analysis

2019 Hospitality Industry – UK, USA and APAC Regional Analysis

“Hospitality Market By Type Of Product (Food And Beverage Services, And Non-Residential Accommodation Services), Competitive Landscape And Market Characteristics – Global Forecast To 2022”
Compass Group PLC Emerges As The Largest Company In The Hospitality Market, According To TBRC’s Report (Companies: Compass Group PLC, Marriott International, Starbucks Coffee, Subway And Sodexo)

The global hospitality market was valued at $3,824.3 billion in 2017. Asia Pacific was the largest market for hospitality, accounting for nearly $1741 billion in 2017. China is the largest country in terms of value in the hospitality market.

The hospitality market covers sales of lodging and dining services. The hospitality industry comprises businesses that provide customers with lodging, prepared meals, snacks and beverages for immediate consumption. It includes both accommodation and food service establishments as these two activities are often combined at the same establishment.

Request For The Report on Global Hospitality Market :

https://www.thebusinessresearchcompany.com/report/hospitality-market

Hospitality Market Size

The global hospitality market size is expected to grow at an annual growth rate of around 8% to nearly $5,891 billion by 2022. Growth in the historic period resulted from improved earning capacity, emerging markets growth, travel, and tourism. Going forward, economic growth in developed nations, and technological development will drive growth. Factors that negatively affected growth in the historic period were talent crunch in emerging Asia, online travel agencies (OTAs) increasing power, slow growth in Asia and low customer retention. Factors that could hinder the growth of this market in the future are increasing preference for healthy food options, security concerns, and government regulations.

Economic growth is a major driver of the hospitality market. The market is expected to benefit from steady economic growth forecast for many developed and developing countries. This continued economic growth is expected to be a driver of the Hospitality market as increasing disposable incomes and greater affluence will allow consumers to increase their spending on recreational activities such as Hospitality.

The market for hospitality is highly fragmented. Players in the market include Compass Group PLC, Marriott International, Starbucks Coffee, Subway and Sodexo.

Compass Group PLC was the largest company in the hospitality market in 2017 with around 0.8% share of the market. The company provides contract food services, cleaning, and property management and support services. The company is headquartered in Chertsey, Surrey, UK, and has operations in over 50 countries.

Request For A Free Sample Of The Global Hospitality Market Report At:

https://www.thebusinessresearchcompany.com/sample.aspx?id=2356&type=smp 

Major Drivers of the market are:

Economic Growth – The market is expected to benefit from steady economic growth forecast for many developed and developing countries. This continued economic growth is expected to be a driver of the Hospitality market as increasing disposable incomes and greater affluence will allow consumers to increase their spending on recreational activities such as Hospitality.

Changing Consumer Hospitality Habits – The Hospitality market is expected to be driven by the changing Hospitality habits of consumers. The increasing popularity of Hospitality apps and social Hospitality will propel the growth of the market in the forecast period.

However, the market is expected to face restraints from several factors such as –

Increasing Preference For Healthy Food Options – With growing health concerns many people globally are turning to eating more healthily. Consumers now are more concerned about how food is raised and prepared and are willing to seek out and pay a little more for something they recognize as healthy.

Security Concerns – Terrorism has affected tourists’ perceptions with regard to travel and the risks associated with it, so negatively affecting the hospitality industry. In recent years, terrorist acts have targeted tourist sites and places of public interest. 

Inquire for DISCOUNT offered @ https://www.thebusinessresearchcompany.com/sample.aspx?id=2356&type=discount 

 

About Us:

The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.

Contact Information

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 8897263534

Americas: +1 315 623 0293

Email: info@tbrc.info

Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company

 

Media Contact
Company Name: The Business Research Company
Contact Person: Nitin
Email: Send Email
Phone: 08897263534
Address:1st Floor, Anshu Colors Building, Road Number 1 Park View Enclave, Jubilee Hills, Hyderabad (India), 500033.
City: Hyderabad
State: Telengana
Country: India
Website: https://www.thebusinessresearchcompany.com/report/primary-batteries-market