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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