Global Hotel Industry to Reach US$479 Billion by 2015, According to a New Industry Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Hotel Industry. As the global economy improves, the Hotel & Lodging industry is recovering gradually, witnessing an increase in both demand and profits. Change in business practices and evolution of emerging markets as new business hubs are expected to further foster renewed growth and add dynamism to the hotel industry.

Hotel Industry: A Global Outlook

Follow us on LinkedIn – Rapid changes in the global economy are sweeping all sectors of business and the hotel industry cannot be immune to it. Demand for hotel rooms, which slumped during the recession period, is on a rebound in line with recovery in economic scenario. Luxury hotels in the US are exhibiting a more resilient recovery compared to other segments of the industry post recession. Though the recovery rate is fast, luxury hotels segment still lags in the revenue-per-room and occupancy percentage. A host of new constructions is expected to come up in near future as hoteliers lineup a pipeline of new hotel developments for addressing rising demand for hotel rooms and services. Healthy hotel services such as wellness & healing programs, as well as customized menus are an emerging trend in the current hospitality industry.

Saturation in the developed markets led major players in the hotel industry to explore other lucrative international markets that include regions with fast economic growth prospects. The hotel industry in China is a global frontrunner as the country’s economy is the fastest emerging market. In addition, India, a developing global business hub, offers attractive investment propositions for both upscale branded and moderate-tier hotels. With the hospitality industry focusing on making travelling a healthy experience, especially for regular travelers, new practices such as wellness and healing programs including hypno-therapy and acupuncture are being incorporated in the service menu.

Hotels are increasingly becoming targets for criminal attacks and cyber breaches. Consequently, the industry is encouraging the adoption of security standards with more tracking cameras and documentation of guests. Budget reduction, a prominent trend being adopted by the hotel industry post recession, is primarily affecting the IT infrastructure of hotels, leading to outsourcing of the same. Hotel management companies are focusing on cost effective solutions such as cloud computing that save on labor costs as well as large scale capital expenditures. The hospitality industry is subject to major changes as economic and social schemes of the industrial era take new shape in the current knowledge-based, technology driven global business scenario. The success of hotel organizations in the future is dependent on their ability to foresee and adapt to these changes.

The research report titled “Hotel Industry: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global hotel industry, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, United Kingdom, Russia, Spain, China, India, Middle East and Latin America, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Hotel_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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