Hotels & Motels in South Korea

Key Highlights

• The hotels & motels industry includes establishments that provide paid lodging and full guest services, typically with a continuous staff presence. In the case of motels, this includes off-street parking facilities, but not necessarily meal services. The industry is detailed in both value and volume terms.
• The South Korean hotels & motels industry recorded revenues of $7.0 billion in 2024, representing a compound annual growth rate (CAGR) of 4.3% between 2019 and 2024.
• The number of establishments in the industry increased with a CAGR of 4.6% between 2019 and 2024, reaching a total of 2,480.0 in 2024.
• The revenue of the South Korean hotels & motels industry experienced an annual growth of 10.1% in 2024. The growth is driven by an increase in net disposable income. According to the Bank of Korea, the net disposable income in South Korea reached $994.93 billion in 2024, up 1.0% from 2023.

Report Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the hotels & motels market in South Korea
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the hotels & motels market in South Korea
• Leading company profiles reveal details of key hotels & motels market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the South Korea hotels & motels market with five year forecasts by both value and volume

Reasons to Buy

• What was the size of the South Korea hotels & motels market by value in 2024?
• What will be the size of the South Korea hotels & motels market in 2029?
• What factors are affecting the strength of competition in the South Korea hotels & motels market?
• How has the market performed over the last five years?
• What are the main segments that make up South Korea's hotels & motels market?