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Hotel Franchise Market Share

Report ID: GMI8027
Published Date: Feb 2024
Report Format: PDF

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Hotel Franchise Market Share

Marriott and Hilton hold a major market share of over 15% in the hotel franchise industry. Leading companies operating in the hotel franchise industry are constantly engaging in various growth-based strategies, including partnerships, investments initiatives and acquisitions to reinforce their market footprint. For instance, Accor, a major international hospitality group managing a variety of hotel brands in different segments, is developing a unique know-how in boosting hotel performance while vigorously working on accelerating its sustainable growth.

These industry giants are increasingly focusing on offering diverse brand portfolios, catering to various market segments ranging from luxury to budget accommodations. Marriott, for instance, has been actively promoting its Bonvoy loyalty program, providing guests with personalized experiences and exclusive perks, while Hilton has emphasized sustainability initiatives to align with the growing eco-consciousness of travelers.

Hotel Franchise Market Companies

Major companies operating in the hotel franchise industry are:

Hilton
Hyatt
IHG
Marriott
Radisson
Red Roof Inn
Richmond
Wyndham

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of hotel franchise reached USD 36.7 billion in 2023 and is set to expand at 7.5% CAGR from 2024 to 2032, due to the rise in demand for unique and localized experiences, along with expansion & diversification of luxury hotel offerings.

In 2023, the extended stay segment accounted for a market share of around 45% and is projected to grow by 2032 due to growing suitability for professionals, such as consultants, contractors, and project-based workers.

North America market held a revenue share of over 35% in 2023, led by the growing penchant for alternative accommodation models, extended-stay options in the region.

Hilton, Hyatt, IHG, Marriott, Radisson, Red Roof Inn, Richmond, and Wyndham among others are main industry players.