The hospitality industry covers lodging and dining services. It comprise businesses that provide customers with lodging, prepared meals, snacks and beverages for immediate consumption. It includes both accommodation and food service establishments as the two activities are often combined at the same establishment.
The largest geographic markets by consumption in the hospitality sector are Asia and the Americas. Asia was the largest region in the hospitality market in 2016, accounting for nearly 38% market share. The Americas was the second largest region accounting for 37% market share.
Major hotel brands are employing digital hotel room keys to increase guest convenience. Smart room access systems allow guests to unlock their doors by simply swiping their phones across a keyless pad on the door. Using a smart phone key eliminates problems in the event of key loss or demagnetization of the plastic key card. for example, Starwood Hotels and Resorts introduced a bluetooth-enabled room unlocking app that allows guests to access their hotel rooms through their smartphone.
Asia Pacific was the largest region in the hospitality market in 2017, accounting for around 45% market share. North America was the second largest region accounting for around 23% market share. Eastern Europe was the smallest region accounting for around 2% market share.
- Markets Covered: Food and Beverage Services, Accommodation
- Time Series: Five years historic and forecast.
- Data: Market value in $ billions.
- Data Segmentations: Regional breakdowns, market share of competitors, key sub segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Compass Group plc
- Aramark Corporation
- Elior Group
- Delaware North
- Thompson Hospitality
- Ovations Food Services
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