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Travel Accommodation Market Share

Report ID: GMI11170
Published Date: Sep 2024
Report Format: PDF

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Travel Accommodation Market Share

Marriott International, Inc., Radisson Hotel Group, and Hilton Worldwide Holdings Inc. held a significant market share of over 4% in 2023. Marriott is expanding its luxury portfolio and enhancing digital experiences. By leveraging its Bonvoy loyalty program, Marriott drives customer engagement and offers tailored travel packages. The company is also investing in sustainable practices and smart technologies across its properties to attract eco-conscious travelers.

Radisson is rapidly expanding in emerging markets and boosting its digital presence with a revamped loyalty program. By adopting a localized approach, Radisson caters to regional demands and emphasizes sustainability by integrating eco-friendly practices. The company is also investing in hybrid meeting solutions, appealing to both business and leisure travelers.

Hilton is broadening its global presence by opening new properties, especially in Asia and Africa. Through its Honors loyalty program and innovations like contactless check-ins, Hilton emphasizes personalized guest experiences. The company is committed to sustainability, targeting net-zero emissions by 2050, and is amplifying its wellness offerings for health-conscious travelers.

Travel Accommodation Market Companies

Major players operating in the travel accommodation industry are:

Marriott International, Inc.
Radisson Hotel Group
Hilton Worldwide Holdings Inc.
Airbnb, Inc.
Hyatt Hotels Corporation
Four Seasons Hotels and Resorts
InterContinental Hotels Group PLC (IHG)
Accor S.A.
Best Western International, Inc.
Shangri-La Hotels and Resorts

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of travel accommodation reached USD 775.1 billion in 2023 and is set to grow over 8.6% CAGR between 2024 and 2032, led by the rise in the global tourism sector.

The hotel segment held over 58% share in 2023 and is expected to exceed USD 960.3 billion by 2032, due to its established presence and ability to cater to diverse traveler needs.

North America market accounted for 33% share in 2023 and is expected to exceed USD 550.3 billion by 2032, driven by its robust domestic and international tourism sector.

Marriott International, Inc., Radisson Hotel Group, Hilton Worldwide Holdings Inc., Airbnb, Inc., Hyatt Hotels Corporation, Four Seasons Hotels and Resorts, InterContinental Hotels Group PLC (IHG), Accor S.A., Best Western International, Inc., and Shangri-La Hotels and Resorts among others.