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Hotels, Motels & Resorts
First Research, March 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US hotel, motel, and resort industry consists of about 40,000 companies that operate about 50,000 properties, with combined annual revenue of about $120 billion. Large US companies include Marriott International, Hilton Worldwide, Starwood Hotels & Resorts, and Wyndham Worldwide. The industry is fragmented: the 50 largest companies generate about 45 percent of revenue.
The global tourism industry, which includes spending on accommodations, transportation, and entertainment, generates $850 billion in sales, according to the United Nations World Travel Organization (UNWTO). Major hotel companies include Accor (France), InterContinental Hotels (UK), and NH Hoteles (Spain). Most large hotel companies have international operations or branded locations in many different countries.
This industry does not include casino hotels or bed and breakfast inns, which are both covered separately. Also not included in the hotel and motel industry are youth hostels, housekeeping cabins and cottages, or tourist homes.
COMPETITIVE LANDSCAPE
Business and tourist travel drive demand. Both are affected by the strength of the economy. The profitability of individual companies depends on efficient operations, because many costs are fixed, and on effective marketing. Large companies have advantages in economies of scale in operations, can more easily raise capital, and have strong name recognition. Small companies, such as boutique hotels, can compete effectively in favorable locations and by providing specialty services. The industry is labor-intensive: average annual revenue per employee is about $90,000....
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