The Hotels and Resorts industry has recovered from the troubled years of the global financial crisis, during which revenue was stagnant due to weakened demand from both the corporate and tourist segments. At the same time, hotels and resorts faced heavy competition from other forms of accommodation, particularly serviced apartments, which have been refined to cater for the lucrative corporate segment. Industry revenue declined by 8.1% and 0.1% in 2008-09 and 2009-10, respectively, as the global financial crisis wreaked havoc on consumer travel plans and general willingness to travel.
This industry includes hotels and resorts that have more than 15 rooms. Hotels and resorts are establishments that are licensed to operate a public bar and provide accommodation on a room or suite basis, with a bath or shower and other facilities in most guest rooms. Cooking facilities, such as hot plates and a microwave, are not available in most guest rooms, although tea and coffee-making facilities are usually included.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.