The hospitality industry, encompassing sectors like accommodation, recreation, travel, and entertainment, is vast and dynamic.
Keeping pace with its ever-changing trends, especially when one needs accurate and up-to-date statistics, is no mean feat.
In the digital age, data-driven strategies are essential for success. Yet, the daily grind often overwhelms hoteliers and marketers, hindering them from staying informed.
The challenges were further compounded by the COVID-19 pandemic, as lockdowns and travel restrictions introduced new hurdles for industry professionals.
As of 2019, the world had more than 700,000 hotels and resorts.
There’s a total of over 4 million rooms available globally for guests.
The US boasts approximately 91,000 hotels and motels. About 52,000 of these are hotels, collectively amassing over $194 billion in yearly revenue.
Despite pandemic challenges, Hilton’s brand value surged by 35%. On the other hand, Airbnb emerged as the top-valued tourism and leisure brand, estimated at $10.5 billion.
A whopping 81% of travelers crave better digital customer service from hoteliers.
Air travel, accommodation, and food services collectively contribute over half of the hospitality industry’s total yield.
In 2017, hospitality exports constituted 11% of the entire US exports and a staggering 32% of US service exports.
The travel and tourism domain accounted for 10.2% of the worldwide GDP in 2018.
By 2016, Asia held over 30% of the global business travel market, valued at $1 trillion.
The travel and tourism sector remains one of the fastest-growing sectors, contributing to over 10% of the global GDP.
Large hotel chains part with 10% to 15% of their revenue for third-party booking commissions. In contrast, smaller establishments pay between 18% and 22%.
The US is eyeing a $4.5 trillion investment by 2025 to revamp its travel infrastructure.
mindit.io, with of over 250 experts proficient in 50+ technologies, is the partner of choice for the hospitality sector.
Our know-how lies in product engineering, AI, and data analytics, making us the right fit for businesses looking to blend innovation with industry insights.
Our team, knowledge and skills, covers a broad spectrum of technologies.
We craft bespoke solutions in product engineering, AI, and data analytics tailored for the hospitality industry.
We’ll help you harness data analytics for deriving insights, facilitating informed and trend-aligned decision-making.
With our innovative solutions, businesses can stay ahead of the curve, preempting changes and challenges.
With data and insights at our fingertips and by effectively channeling data and technology, industry players can not only adapt but also innovate, setting new benchmarks in customer experience in this dynamic domain.
Let’s connect today and talk about your product vision.
