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Hotels and Accommodations - US - May 2017

"The US market for accommodations reached an estimated $243.4 billion in revenue in 2016, an increase of 31% from 2011’s $186.1 billion. Revenue is expected to grow another 25% over the next five years, on par with total consumer spending, to reach $303.8 billion. Hotels make up the largest share of lodging options in the accommodation market at 72% in 2016. New players, such as home shares and home rentals, continue to disrupt the hotel industry and push hotel brands to constantly evaluate and update their offerings to stay competitive."

- Gina Cavato, Lifestyles & Leisure Analyst

This report will cover the following areas:

  • Modern hotel amenities are of less interest to older travelers
  • Price-sensitive travelers only want to pay for the basics
  • More-frequent travelers have more favorable opinions of home shares

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

          • Figure 1: Total US revenues and forecast of travel accommodations, by segment, at current prices, 2011-21
        • The issues
          • Modern hotel amenities are of less interest to older travelers
            • Figure 2: Interest in modern hotel amenities – TV and tech, by age, March 2017
          • Price-sensitive travelers only want to pay for the basics
            • Figure 3: Attitudes toward hotels and other accommodations – price items, by household income, March 2017
          • More-frequent travelers have more favorable opinions of home shares
            • Figure 4: Attitudes toward home-sharing rentals, by travel frequency segments, March 2017
          • The opportunities
            • Online reviews – whether positive or negative – influence younger travelers
              • Figure 5: Influences for hotel vs home rental or home share stays – good online reviews, by age, March 2017
            • Amenities and reviews are important to young women
              • Figure 6: Influences for hotel stays – select items, by gender and age, March 2017
            • Home rental/home sharing services attract young travelers
              • Figure 7: Used a home rental/home share, provides a better overall experience, by age, March 2017
            • What it means
            • The Market – What You Need to Know

              • Robust growth for travel accommodations over the past five years
                • All segments growing, hotels and motels are dominant
                  • Outside players, consolidation shake up the hotel industry
                    • Consumer confidence at odds with business travel forecast
                    • Market Size and Forecast

                      • Hotel and accommodations growth outpaces total spending growth
                        • Figure 8: Total US revenues and fan chart forecast of travel accommodations, at current prices, 2011-21
                        • Figure 9: Total US revenues and forecast of traveler accommodations, at current prices, 2011-21
                    • Market Breakdown

                      • All segments of the hotels and accommodations market show growth
                        • Figure 10: Travel accommodations revenues, by segment, at current prices, 2014 and 2016
                      • Hotels and motels account for 72% of the market
                        • Figure 11: Total US retail sales and fan chart forecast of hotels and motels (excluding casino hotels), at current prices, 2011-21
                      • Accounting for one quarter of the market, casino hotels grow modestly
                        • Figure 12: Total US retail sales and fan chart forecast of casino hotels, at current prices, 2011-21
                      • RV parks, other accommodations are small but fast-growing players
                        • Figure 13: Total US retail sales and fan chart forecast of RV parks and recreational camps and other accommodations, at current prices, 2011-21
                    • Market Perspective

                      • Retailers and lifestyle brands enter the hotel scene
                        • Hotel loyalty programs continue to update and upgrade
                          • Figure 14: Hotel loyalty programs, by estimated number of members, April 2017
                        • Big brands get bigger with consolidation and new developments
                          • Figure 15: Largest hotel groups (global), properties, brands
                        • Home shares and peer-to-peer rentals gaining ground
                        • Market Factors

                          • Consumer sentiment at highest level in more than a decade
                            • Figure 16: Consumer Sentiment Index, January 2007-April 2017
                          • Domestic business travel growth slows, international arrivals may suffer
                            • Millennials seen as key to growth . . . but don’t forget the Baby Boomers
                              • Figure 17: Population, by generation share, 2017
                          • Key Players – What You Need to Know

                            • Acquisitions makes big brands even bigger
                              • Airbnb reigns as social media king
                                • Experience above all
                                  • Legislation, regulation, and cybercrime, oh my!
                                    • Hotel brands look to get smarter and more socially responsible
                                    • Leading Companies

                                      • AccorHotels
                                        • Best Western International
                                          • Choice Hotels International
                                            • Hilton Inc.
                                              • Hyatt Hotels
                                                • InterContinental Hotels Group (IHG)
                                                  • Marriott International
                                                    • Wyndham Hotel Group
                                                      • Airbnb
                                                      • Social Media Breakdown

                                                        • Hotels may need to revamp their social media to boost engagement
                                                          • Figure 18: Social media terms and definitions
                                                        • Airbnb dominates social media landscape . . .
                                                          • Figure 19: Cross-channel posts over past year, by accommodations brand, April 2016-17
                                                        • . . . and boasts the highest engagement per post among lodging brands
                                                          • Figure 20: Cross-channel engagement totals over last 12 months, April 2016-17
                                                        • Airbnb’s and W Hotels’ content is more than just about its hotels
                                                          • Figure 21: We Accept | Airbnb
                                                          • Figure 22: Cross-channel engagement rate over last 12 months, April 2016-17
                                                      • What’s Working?

                                                        • Accommodation brands invest in experiences
                                                          • Large hotel chains emulate smaller, independent boutiques
                                                            • Lodging brands join the home share market with luxury rental brands
                                                              • Direct booking wars
                                                                • Figure 23: How to Land a Job with Grace Helbig, August 2015
                                                            • What’s Struggling?

                                                              • Legislative changes could mean a decline for hotels
                                                                • Hotels trying to understand Millennials
                                                                  • Figure 24: Hilton and IBM pilot “Connie,” the world’s first Watson-enabled hotel concierge, March 2016
                                                                • Hotel chains struggling with cybercrime attacks and data breaches
                                                                • What’s Next?

                                                                  • First came pop-up stores. Are pop-up hotels next?
                                                                    • From soap to food, hotels look to reduce waste
                                                                      • Hotel subscription services
                                                                        • Invisible service may help travelers truly live like locals
                                                                          • Hotel brands compete to see which is the smartest
                                                                          • The Consumer – What You Need to Know

                                                                            • Travelers are most likely to stay at hotels, namely midscale and upscale
                                                                              • Hotels are more positively perceived than home shares/rentals
                                                                                • Good past experiences are key for future stays at all accommodations
                                                                                  • Streaming services and smart TVs are most desired services at hotels
                                                                                    • Travelers want adventure, but not from their accommodations
                                                                                      • Frequent travelers are most open and positive about home shares
                                                                                      • Accommodations Used in the Last 12 Months

                                                                                          • Eight in 10 traveled overnight in the past year
                                                                                            • Figure 25: Overnight travel, by key demographics, March 2017
                                                                                          • 91% of past year travelers have stayed in a hotel
                                                                                            • Figure 26: Accommodation types used, March 2017
                                                                                            • Figure 27: Stays at hotels vs hotel alternatives – count of stays, March 2017
                                                                                          • Young men use more diverse types of accommodations
                                                                                            • Figure 28: Accommodation types used – select items, by gender and age, March 2017
                                                                                          • Hotel stays correlate with income, hotel alternatives used by all
                                                                                            • Figure 29: Accommodation types used, by household income, March 2017
                                                                                          • Most stayed at brands are Best Western, Marriott, and Hampton Inn
                                                                                            • Figure 30: Hotels used in the previous 12 months, top 10 hotels, October 2015-November 2016
                                                                                        • Perceptions of Hotels vs Home Rentals/Home Shares

                                                                                            • Travelers view hotels far more positively than home rentals/home shares
                                                                                              • Figure 31: Perceptions of hotels vs home rentals/home sharing, March 2017
                                                                                            • Hotels have stronger advantage for security, reliability among women
                                                                                              • Figure 32: Perceptions of hotels vs home rentals/home sharing – Hotels better, by gender, March 2017
                                                                                            • Young travelers more positive about home rentals/home sharing
                                                                                              • Figure 33: Perceptions of hotels vs home rentals/home sharing – Hotels better, by age, March 2017
                                                                                          • Influences for Hotels and Alternatives

                                                                                              • Past experience tops list of hotel influences, price for non-hotels
                                                                                                  • Figure 34: Influences for hotel vs home rental or home share stays, March 2017
                                                                                                • Hotel guests consider much more than physical offerings
                                                                                                  • Figure 35: TURF Analysis – Influences for hotel stays, March 2017
                                                                                                • Reputation and service influence young men, women consider amenities and reviews
                                                                                                  • Figure 36: Influences for hotel stays – select items, by gender and age, March 2017
                                                                                                • High earners prioritize past experiences, consistency, loyalty programs
                                                                                                  • Figure 37: Influences for hotel stays – select items, by household income, March 2017
                                                                                                • Cost, good past experience yield greatest reach for home share/rentals
                                                                                                  • Figure 38: TURF Analysis – Influences for home rental or home share stays, March 2017
                                                                                                • Women more likely to consider cost, convenience, getting just what they want
                                                                                                  • Figure 39: Influences for non-hotel stays – select items, by gender, March 2017
                                                                                                • Online influences and unique properties/location impact younger travelers
                                                                                                  • Figure 40: Influences for non-hotel stays – select items, by age, March 2017
                                                                                              • Interest in Modern Hotel Amenities

                                                                                                  • Tech innovations related to entertainment inspire interest at hotels
                                                                                                    • Figure 41: Interest in modern hotel amenities, March 2017
                                                                                                  • Younger travelers who have stayed at a hotel are most attracted to modern offerings
                                                                                                    • Figure 42: Interest in modern hotel amenities – select items, by age and gender, March 2017
                                                                                                  • Multicultural guests most interested in in-room entertainment upgrades
                                                                                                    • Figure 43: Interest in modern hotel amenities – TV items, by race and Hispanic origin, March 2017
                                                                                                • Attitudes toward Hotels and Other Accommodations

                                                                                                    • Travelers want adventure, but not necessarily from their lodging choice
                                                                                                      • Figure 44: Attitudes toward hotels and other accommodations, March 2017
                                                                                                    • Young travelers have most optimistic view of home sharing
                                                                                                      • Figure 45: Attitudes toward hotels and other accommodations – home-sharing items, by age and gender, March 2017
                                                                                                    • Amenities may not be enough to attract travelers, especially low earners
                                                                                                      • Figure 46: Attitudes toward hotels and other accommodations – price items, by household income, March 2017
                                                                                                    • Parents embrace local culture, but stick to “touristy” activities
                                                                                                      • Figure 47: Attitudes toward hotels and other accommodations – local immersion items, by parental status, March 2017
                                                                                                  • Travel Frequency Segments

                                                                                                        • Figure 48: Travel frequency segments, March 2017
                                                                                                      • 42% of Ultra Travelers stayed at a non-hotel accommodation last year
                                                                                                        • Figure 49: Stays at hotels vs hotel alternatives, by travel frequency segments, March 2017
                                                                                                      • Travel frequency impacts sentiment of overall experiences
                                                                                                        • Figure 50: Perceptions of hotels vs home rentals/home sharing, overall experience, by travel frequency segments, March 2017
                                                                                                      • Good past experiences, brand reputation, and consistency are key
                                                                                                        • Figure 51: Influences for hotel stays – select items, by travel frequency segments, March 2017
                                                                                                      • Frequent travelers want efficient processes and wellness services
                                                                                                        • Figure 52: Interest in modern hotel amenities, by travel frequency segments, March 2017
                                                                                                      • Home shares and home rentals are a sweet spot for frequent travelers
                                                                                                        • Figure 53: Attitudes toward hotels and other accommodations, home share and home rental items, by travel frequency segments, March 2017
                                                                                                    • Appendix – Data Sources and Abbreviations

                                                                                                      • Data sources
                                                                                                        • Fan chart forecast
                                                                                                          • Consumer survey data
                                                                                                            • Abbreviations and terms
                                                                                                              • Abbreviations
                                                                                                                • Terms
                                                                                                                  • TURF methodology
                                                                                                                  • Appendix – The Market

                                                                                                                      • Figure 54: Total US revenues and forecast of traveler accommodations, at inflation-adjusted prices, 2011-21
                                                                                                                      • Figure 55: Total US revenues and forecast of traveler accommodations, by segment, at current prices, 2011-21
                                                                                                                      • Figure 56: Total US revenues of traveler accommodations, by segment, at current prices, 2014 and 2016
                                                                                                                      • Figure 57: Total US revenues and forecast of hotels & motels, at current prices, 2011-21
                                                                                                                      • Figure 58: Total US revenues and forecast of hotels & motels, at inflation-adjusted prices, 2011-21
                                                                                                                      • Figure 59: Total US revenues and forecast of casino hotels, at current prices, 2011-21
                                                                                                                      • Figure 60: Total US revenues and forecast of casino hotels, at inflation-adjusted prices, 2011-21
                                                                                                                      • Figure 61: Total US revenues and forecast of RV parks and recreational camps & Other accommodations, at current prices, 2011-21
                                                                                                                      • Figure 62: Total US revenues and forecast of RV parks and recreational camps & Other accommodations, at inflation-adjusted prices, 2011-21

                                                                                                                  Companies Covered

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                                                                                                                  Hotels and Accommodations - US - May 2017

                                                                                                                  US $3,995.00 (Excl.Tax)