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Business Travel Lodging Market By Enterprise Size, By Industry: Global Opportunity Analysis and Industry Forecast, 2018-2028

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    Report

  • 109 Pages
  • March 2022
  • Region: Global
  • Allied Market Research
  • ID: 5640370
The global business travel lodging market size was valued at $257.4 billion in 2018, and is estimated to reach $450.8 billion by 2028, registering a CAGR of 14.8% from 2021 to 2028.

Business travel lodging refers to the accommodation rented by business travelers for the purpose of stay on a short-term basis. Travelers can choose from among the various types of lodging available, including hotels, hostels, resorts, vacation rentals, and others. The ideal choice of stay can be determined depending upon multiple factors such as purpose & duration of their business needs, availability of the property, and mode of booking. Lodging can be booked through various sources, which include online travel agencies, hotel websites, booking through agents, and direct bookings. The liberalization of visa regulations in the countries of developing regions such as Africa, India, and China have eased travel for business and professional visitors, which is a key factor expected to have a positive impact on the growth of the travel & tourism industry. This has influenced the market in a parallel way for business travel lodging and accommodation by arrivals, since it has made travel convenient. Business travel is a division of regular tourism in which people travel for a business-oriented purpose. It includes transportation, lodging, business work, entertainment, and other activities. Global travel & tourism industry is one of the largest industries with global economic contribution of more than $9,000 billion. According to the World Travel and Tourism Council (WTTC), the global travel & tourism sector contributed to around $9.2 trillion to the global GDP (Gross Domestic Product) in 2019.

Business travel lodging refers to the activity of travelling for the purpose of business needs and staying in hotels, resorts, and other properties on a short-term basis. The purpose is for various business requirements such as meetings, negotiate deals, networking, trade shows, and exhibitions. The business travel segment witnesses the highest growth rate in this industry, as employees working in multinational organizations are often required to travel across various countries for business purposes. In business tourism, destinations are commercial places, which are well-developed and suited for trade work. Thus, the scope for business travel lodging providers is also increasing across the world and is expected to grow over the coming years. The outbreak of COVID-19 emerged as a major threat to the global business travel industry that severely deteriorated the business travel lodging industry. The pandemic led to cancellation of almost all the major business travel activities and MICE events across the globe. Moreover, the wide spread penetration of online video conferencing platforms such as Zoom and Google Meet, due to travel restrictions has reduced the business trips worldwide for the next couple of years. However, the travel industry is expected to normalize after a couple of years and is expected to increase revenue of the business travel lodging market.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the business travel lodging market analysis from 2018 to 2028 to identify the prevailing business travel lodging market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the business travel lodging market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global business travel lodging market trends, key players, market segments, application areas, and business travel lodging market growth strategies.

Key Market Segments


By Enterprise Size

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

By Industry

  • Construction And Engineering
  • Pharmaceutical And Healthcare
  • Agriculture Food And Beverage
  • Hospitality
  • Business Services And Consulting
  • It Technology And Telecom
  • Finance And Insurance
  • Non Profit Organizations
  • Transport And Logistics
  • Retail And Consumer Goods
  • Energy And Utilities
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • France
  • United Kingdom
  • Netherlands
  • Germany
  • Rest of Europe
  • Asia-Pacific
  • China
  • Rest Of Asia Pacific
  • LAMEA
  • Brazil
  • Rest of LAMEA

Key Market Players

  • Travels Group

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
CHAPTER 4: BUSINESS TRAVEL LODGING MARKET, BY ENTERPRISE SIZE
4.1 Overview
4.1.1 Market size and forecast
4.2 Small Enterprises
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Medium Enterprises
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Large Enterprises
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: BUSINESS TRAVEL LODGING MARKET, BY INDUSTRY
5.1 Overview
5.1.1 Market size and forecast
5.2 Pharmaceutical And Healthcare
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Agriculture Food And Beverage
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Hospitality
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Business Services And Consulting
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
5.6 It Technology And Telecom
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market analysis by country
5.7 Finance And Insurance
5.7.1 Key market trends, growth factors and opportunities
5.7.2 Market size and forecast, by region
5.7.3 Market analysis by country
5.8 Non Profit Organizations
5.8.1 Key market trends, growth factors and opportunities
5.8.2 Market size and forecast, by region
5.8.3 Market analysis by country
5.9 Transport And Logistics
5.9.1 Key market trends, growth factors and opportunities
5.9.2 Market size and forecast, by region
5.9.3 Market analysis by country
6.0 Retail And Consumer Goods
6.0.1 Key market trends, growth factors and opportunities
6.0.2 Market size and forecast, by region
6.0.3 Market analysis by country
6.1 Energy And Utilities
6.1.1 Key market trends, growth factors and opportunities
6.1.2 Market size and forecast, by region
6.1.3 Market analysis by country
6.2 Construction And Engineering
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Others
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 6: BUSINESS TRAVEL LODGING MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Enterprise Size
6.2.3 North America Market size and forecast, by Industry
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Enterprise Size
6.2.4.1.2 Market size and forecast, by Industry
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Enterprise Size
6.2.4.2.2 Market size and forecast, by Industry
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Enterprise Size
6.3.3 Europe Market size and forecast, by Industry
6.3.4 Europe Market size and forecast, by country
6.3.4.1 France
6.3.4.1.1 Market size and forecast, by Enterprise Size
6.3.4.1.2 Market size and forecast, by Industry
6.3.4.2 United Kingdom
6.3.4.2.1 Market size and forecast, by Enterprise Size
6.3.4.2.2 Market size and forecast, by Industry
6.3.4.3 Netherlands
6.3.4.3.1 Market size and forecast, by Enterprise Size
6.3.4.3.2 Market size and forecast, by Industry
6.3.4.4 Germany
6.3.4.4.1 Market size and forecast, by Enterprise Size
6.3.4.4.2 Market size and forecast, by Industry
6.3.4.5 Rest of Europe
6.3.4.5.1 Market size and forecast, by Enterprise Size
6.3.4.5.2 Market size and forecast, by Industry
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Enterprise Size
6.4.3 Asia-Pacific Market size and forecast, by Industry
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Enterprise Size
6.4.4.1.2 Market size and forecast, by Industry
6.4.4.2 Rest Of Asia Pacific
6.4.4.2.1 Market size and forecast, by Enterprise Size
6.4.4.2.2 Market size and forecast, by Industry
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Enterprise Size
6.5.3 LAMEA Market size and forecast, by Industry
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Enterprise Size
6.5.4.1.2 Market size and forecast, by Industry
6.5.4.2 Rest of LAMEA
6.5.4.2.1 Market size and forecast, by Enterprise Size
6.5.4.2.2 Market size and forecast, by Industry
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Travels Group
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 2. Business Travel Lodging Market Revenue, for Small Enterprises, by Region, 2018-2028, ($Billion)
Table 3. Business Travel Lodging Market for Small Enterprises by Country, 2018-2028, ($Billion)
Table 4. Business Travel Lodging Market Revenue, for Medium Enterprises, by Region, 2018-2028, ($Billion)
Table 5. Business Travel Lodging Market for Medium Enterprises by Country, 2018-2028, ($Billion)
Table 6. Business Travel Lodging Market Revenue, for Large Enterprises, by Region, 2018-2028, ($Billion)
Table 7. Business Travel Lodging Market for Large Enterprises by Country, 2018-2028, ($Billion)
Table 8. Global Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 9. Business Travel Lodging Market Revenue, for Pharmaceutical and Healthcare, by Region, 2018-2028, ($Billion)
Table 10. Business Travel Lodging Market for Pharmaceutical and Healthcare by Country, 2018-2028, ($Billion)
Table 11. Business Travel Lodging Market Revenue, for Agriculture Food and Beverage, by Region, 2018-2028, ($Billion)
Table 12. Business Travel Lodging Market for Agriculture Food and Beverage by Country, 2018-2028, ($Billion)
Table 13. Business Travel Lodging Market Revenue, for Hospitality, by Region, 2018-2028, ($Billion)
Table 14. Business Travel Lodging Market for Hospitality by Country, 2018-2028, ($Billion)
Table 15. Business Travel Lodging Market Revenue, for Business Services and Consulting, by Region, 2018-2028, ($Billion)
Table 16. Business Travel Lodging Market for Business Services and Consulting by Country, 2018-2028, ($Billion)
Table 17. Business Travel Lodging Market Revenue, for It Technology and Telecom, by Region, 2018-2028, ($Billion)
Table 18. Business Travel Lodging Market for It Technology and Telecom by Country, 2018-2028, ($Billion)
Table 19. Business Travel Lodging Market Revenue, for Finance and Insurance, by Region, 2018-2028, ($Billion)
Table 20. Business Travel Lodging Market for Finance and Insurance by Country, 2018-2028, ($Billion)
Table 21. Business Travel Lodging Market Revenue, for Non Profit Organizations, by Region, 2018-2028, ($Billion)
Table 22. Business Travel Lodging Market for Non Profit Organizations by Country, 2018-2028, ($Billion)
Table 23. Business Travel Lodging Market Revenue, for Transport and Logistics, by Region, 2018-2028, ($Billion)
Table 24. Business Travel Lodging Market for Transport and Logistics by Country, 2018-2028, ($Billion)
Table 25. Business Travel Lodging Market Revenue, for Retail and Consumer Goods, by Region, 2018-2028, ($Billion)
Table 26. Business Travel Lodging Market for Retail and Consumer Goods by Country, 2018-2028, ($Billion)
Table 27. Business Travel Lodging Market Revenue, for Energy and Utilities, by Region, 2018-2028, ($Billion)
Table 28. Business Travel Lodging Market for Energy and Utilities by Country, 2018-2028, ($Billion)
Table 29. Business Travel Lodging Market Revenue, for Construction and Engineering, by Region, 2018-2028, ($Billion)
Table 30. Business Travel Lodging Market for Construction and Engineering by Country, 2018-2028, ($Billion)
Table 31. Business Travel Lodging Market Revenue, for Others, by Region, 2018-2028, ($Billion)
Table 32. Business Travel Lodging Market for Others by Country, 2018-2028, ($Billion)
Table 33. Business Travel Lodging Market, by Region, 2018-2028, ($Billion)
Table 34. North America Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 35. North America Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 36. North America Business Travel Lodging Market, by Country, 2018-2028, ($Billion)
Table 37. U.S. Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 38. U.S. Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 39. Canada Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 40. Canada Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 41. Europe Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 42. Europe Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 43. Europe Business Travel Lodging Market, by Country, 2018-2028, ($Billion)
Table 44. France Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 45. France Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 46. United Kingdom Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 47. United Kingdom Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 48. Netherlands Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 49. Netherlands Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 50. Germany Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 51. Germany Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 52. Rest of Europe Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 53. Rest of Europe Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 54. Asia-Pacific Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 55. Asia-Pacific Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 56. Asia-Pacific Business Travel Lodging Market, by Country, 2018-2028, ($Billion)
Table 57. China Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 58. China Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 59. Rest of Asia-Pacific Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 60. Rest of Asia-Pacific Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 61. LAMEA Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 62. LAMEA Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 63. LAMEA Business Travel Lodging Market, by Country, 2018-2028, ($Billion)
Table 64. Brazil Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 65. Brazil Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 66. Rest of LAMEA Business Travel Lodging Market, by Enterprise Size, 2018-2028, ($Billion)
Table 67. Rest of LAMEA Business Travel Lodging Market, by Industry, 2018-2028, ($Billion)
Table 68. Travels Group: Company Snapshot
Table 69. Travels Group: Operating Segments
Table 70. Travels Group: Product Portfolio
Table 71. Travels Group: Net Sales
Table 72. Travels Group: Key Stratergies
LIST OF FIGURES
Figure 1. Business Travel Lodging Market Segmentation
Figure 2. Business Travel Lodging Market, 2018-2028
Figure 3. Business Travel Lodging Market, 2018-2028
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Business Travel Lodging Market:Drivers, Restraints and Opportunities
Figure 12. Pricing Analysis
Figure 13. Business Travel Lodging Market, by Enterprise Size, 2018 (%)
Figure 14. Comparative Share Analysis of Small Enterprises Business Travel Lodging Market, 2018-2028 (%)
Figure 15. Comparative Share Analysis of Medium Enterprises Business Travel Lodging Market, 2018-2028 (%)
Figure 16. Comparative Share Analysis of Large Enterprises Business Travel Lodging Market, 2018-2028 (%)
Figure 17. Business Travel Lodging Market, by Industry, 2018 (%)
Figure 18. Comparative Share Analysis of Pharmaceutical and Healthcare Business Travel Lodging Market, 2018-2028 (%)
Figure 19. Comparative Share Analysis of Agriculture Food and Beverage Business Travel Lodging Market, 2018-2028 (%)
Figure 20. Comparative Share Analysis of Hospitality Business Travel Lodging Market, 2018-2028 (%)
Figure 21. Comparative Share Analysis of Business Services and Consulting Business Travel Lodging Market, 2018-2028 (%)
Figure 22. Comparative Share Analysis of IT Technology and Telecom Business Travel Lodging Market, 2018-2028 (%)
Figure 23. Comparative Share Analysis of Finance and Insurance Business Travel Lodging Market, 2018-2028 (%)
Figure 24. Comparative Share Analysis of Non Profit Organizations Business Travel Lodging Market, 2018-2028 (%)
Figure 25. Comparative Share Analysis of Transport and Logistics Business Travel Lodging Market, 2018-2028 (%)
Figure 26. Comparative Share Analysis of Retail and Consumer Goods Business Travel Lodging Market, 2018-2028 (%)
Figure 27. Comparative Share Analysis of Energy and Utilities Business Travel Lodging Market, 2018-2028 (%)
Figure 28. Comparative Share Analysis of Construction and Engineering Business Travel Lodging Market, 2018-2028 (%)
Figure 29. Comparative Share Analysis of Others Business Travel Lodging Market, 2018-2028 (%)
Figure 30. Business Travel Lodging Market by Region, 2018
Figure 31. U.S. Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 32. Canada Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 33. France Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 34. United Kingdom Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 35. Netherlands Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 36. Germany Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 37. Rest of Europe Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 38. China Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 39. Rest of Asia-Pacific Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 40. Brazil Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 41. Rest of LAMEA Business Travel Lodging Market, 2018-2028 ($Billion)
Figure 42. Top Winning Strategies, by Year
Figure 43. Top Winning Strategies, by Development
Figure 44. Top Winning Strategies, by Company
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap of Top 10 Key Players
Figure 48. Travels Group.: Net Sales, ($Billion)

Executive Summary

According to this report titled, 'Business Travel Lodging Market by Enterprise Size and Industry: Opportunity Analysis and Industry Forecast, 2021-2028,' the global business travel lodging market size was valued at $257.40 billion in 2018, and is estimated to reach $450.80 billion by 2028, growing at a CAGR of 14.77% from 2021 to 2028.

Business travel lodging refers to the activity of travelling for the purpose of business needs and staying in hotels, resorts, and other properties on a short-term basis. The purpose is for various business requirements such as meetings, negotiate deals, networking, trade shows, and exhibitions. Business travel is done mainly for building partnerships, joint ventures, meeting suppliers and customers, maintaining relation between companies, and promotion of product or service. The growing popularity of incorporating business with recreational or leisure activities to relieve stress and enhance work-efficiency is encouraging the global business travel lodging providers to incorporate modern amenities and services in their properties. The development and growth of various online travel agencies (OTA) such as booking.com, KAYAK, and Expedia, are contributing toward the growth of the global business travel lodging market. Moreover, the growth of the business travel lodging industry is driven by expansion of the travel & tourism industry, surge in government initiatives for the development of MICE (meetings, incentives, conferences, and events) segment & SME sector, and increase in globalization of business. The business travel lodging market trends such as bleisure travel (business + leisure), IoT (internet of things), development of smart hotels, virtual reality for hotel bookings, and personalization are responsible for fueling the lodging market. Business travel lodging market analysis asures that these developments in hotels are expected to lead to the growth of the food & lodging segment as well as the overall business travel lodging market in the future. Moreover, use of robotics technology is a trending factor that attracts customers to hotels. Robots are being used in hotels for greeting guests, providing information, luggage handling, and cleaning purposes. In restaurants, robots can be potentially used in food service and food preparation roles that may foster the growth of the business travel lodging market in the future.

There are various technological advancements that have emerged in recent years and are being adopted by the accommodation and lodging stakeholders. The popular technologies such as virtual reality, augmented reality, artificial intelligence, chat bots, voice search & voice control technology, and internet of things (IoT) are used by the players operating in the business travel lodging market. Voice search, chat bots are used in the websites to provide customers the convenience and ease of booking hotels and tickets. With the help of virtual reality, customers can take a complete tour of the hotels, restaurants, and landscapes by sitting in the comfort of their home and decide whether to book a hotel or not. Moreover, robotics technology is also being used in hotels and restaurants. Robots can be used in hotels for cleaning, luggage handling, and greeting guests that may help to attract customers. All these technologies are expected to drive the global business travel lodging market in the future. Business Travel Lodging Market Growth is expected to experience high demand in Asia-Pacific during the forecast period.

Key findings of the Study

  • The global business travel lodging market size was valued at $257.4 billion in 2018, and is estimated to reach $450.5 billion by 2028, registering a CAGR of 14.8% from 2021 to 2028.
  • By enterprise size, the large enterprises segment is estimated to witness the fastest growth, registering a CAGR of 15.5% during the business travel lodging market forecast period.
  • In 2020, depending on industry, the hospitality segment was valued at $9.3 billion in business travel lodging market share.
  • In 2020, the U.S. was the most prominent market in North America, and is projected to reach $96.4 billion by 2028, growing at a CAGR of 13.8% during the forecast period.

Companies Mentioned

  • Travels Group

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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