Hotel Franchise Market Size - By Chain Value (Luxury, Upper-upscale, Upscale, Upper-midscale, Midscale, Economy), By Hotel Type (Extended Stay, Residence, Select Service), Growth Prospects, Regional Outlook & Forecast, 2024 – 2032

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

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.

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.

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.