The Average daily rate in Upscale hotels, attained a global value of USD 7,136.67 million in 2021
The indicator recorded a historical decline CAGR of 6.09% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Global Hotels & Motels
The hotels & motels industry consists of 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.
How has the COVID-19 pandemic impacted leading players?
The COVID-19 pandemic has had a devastating impact on the hotels and motels industry. During the peak of the global pandemic, the vast majority of hotels experienced little to no revenue as occupancy rates plummeted.
The COVID-19 pandemic and its consequences have dramatically reduced travel and demand for hotel rooms, which has expected to continue to have, a material adverse impact on the hospitality industry and its players. Some leading players have implemented strategies to minimize the impact of the pandemic and increase their chances of a strong recovery in a post-pandemic environment.
What strategies do the leading players follow?
A common strategy used by all of the leading players in this industry is to operate a variety of hotel brands, often with very varying price points. The leading hotel operators tend to differentiate their brands by age, budget, and type of traveler.
In this way, these companies can appeal to a wider range of consumers. Leading players tend to spread their brands across the budget, midscale, and upscale/luxury segments, which attract varying prices.
Global leading hotels & motels company profiles
Marriott International Inc (Marriott) is a hospitality service provider that operates hotels and restaurants. It operates franchises and licenses hotels, residential and timeshare properties under several luxuries, premium and select brand names. Its brands include the Ritz-Carlton, JW Marriott, St. Regis, Westin, Renaissance, Marriott Hotels, Le Meridien, Gaylord Hotels, Marriott Executive Apartments, Delta Hotels, Tribute Portfolio, Design Hotels, Courtyard and SpringHill Suites.
The company’s operations span North America, Europe, Africa, the Middle East, Asia-Pacific, Caribbean and Latin America. Marriott is headquartered in Bethesda, Maryland, the US.
Wyndham Hotels and Resorts LLC
Wyndham Hotels and Resorts LLC (Wyndham) is a hospitality service provider that owns and operates hotels, resorts and restaurants. The company’s services include accommodations services, rooms and suites, dining services, online booking services, swimming pools, business center, dining and entertainment, health activities and sports, hotel info and services, and transportation and parking.
It also provides wedding programs and meeting events. The company operates hotels and resorts under the brand names Wyndham Guayaquil, Howard Johnson Hotel Guayaquil, Howard Johnson Hotel Loja, and Howard Johnson Hotel Quito. It operates in Guayaquil, Guayas, Loja and Quito, Ecuador. Wyndham Hotels and Resorts is headquartered in Parsippany, New Jersey, the US.
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