As one of the largest travel sectors, accommodations will continue to grow as travel becomes an even more integral part of consumer lifestyles. Yet it remains to be seen if the disruption from alternative accommodations will fundamentally shake up the entire sector.
As one of the largest travel sectors, accommodations will continue to grow as travel becomes an even more integral part of consumer lifestyles. On the other hand, the rise of the short-term home rental market has been eating away at traditional hotel stays and revenues.
Last week we launched the latest report in our Skift Research service, U.S. Accommodation Sector: Skift Research Estimates 2019. It presents our proprietary estimates on key operational and performance metrics for the U.S. accommodation sector. In addition to estimates and forecasts on the total accommodation market, we break down short-term home rental market share and top 10 hotel and resort brand market share.
Below is an excerpt from the report. Get the full report here to stay ahead of this trend.
Traditional Accommodation Sector by Segment
Hotels and motels, which include summer resorts and corporate-run timeshares and vacation rentals, make up about three-quarters of total revenues; casino hotels account for about 24 percent, and bed and breakfast inns and others accounts for only 1.4 percent of total revenue. These revenue shares have remained relatively stable over the past few years.
Traditional Accommodation Sector Key Operational and Performance Indicators
For 2019, we estimate that hotels and motels, the largest accommodation segment, will generate $181 billion in total revenue. Despite the concentration of the big public hotel companies, we see there are over 36,000 hotel companies in the U.S. On average, one company owns or manages 1.5 properties and 136 guestrooms. Average revenue per guestroom, including food and beverage and all other operating revenues, amount to nearly $37,000.
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Photo Credit: New Skift Research suggests that homesharing will further erode hotel market share. pexels.com