82+ Hospitality Industry Statistics, Trends & More [2024]

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We’ve curated and vetted a list of up-to-date stats AND organized everything into categories to help you quickly find the needed information.

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Top Hotel Industry Statistics (Editor’s Picks)

• There are over 187,000 hotels in the world as of 2023.
• In 2022, the number of hotels and motels in the US increased by 8.3% compared to 2021, reaching 132,228.
• In the US, hotels in the upper upscale chain type had an average of 313.1 rooms as of Dec 31, 2020. Meanwhile, economy chain scale hotels only had ~75.2 rooms.
• In 2022, the hotel occupancy rate in the US reached 95% of the 2019 levels. It’s expected to hit 97% in 2023, followed by 98% in 2024 and full recovery by 2025.
• Las Vegas boasts the highest number of hotel rooms among US cities: 169,100.

• The global market share of the hotel and resort sector peaked at $1.52T in 2019 before experiencing a decline below $1T due to COVID-19. Nonetheless, the market is expected to bounce back and reach $1.21T by 2023.
• The hospitality industry is expected to grow from $4,107.60B in 2022 to $9,950B in 2028, with a compound annual growth rate (CAGR) of 16.13% between 2023 and 2028.
• Sole proprietorship hotels in the US generate an average annual revenue of $94,464.
• The hotel industry is expected to generate $408.80B in 2023.
• The average daily rate for hotels is $154.32 as of September 2022.
• The average operating profit margin for the global hotel and tourism industry in 2022 (Q3) was just over 14%.
• Many travelers (81%) want better digital customer service from hotels.
• The global hotel industry had 2,246 new openings in 2021, which is projected to increase to 2,805 in 2022 and 2,934 in 2023.
• The hotel sector’s global worth surpassed $4,548T in 2022 and is anticipated to grow at a compound annual growth rate of 7% from 2021 to 2025.
• Seven in 10 Millennials are likely to book holiday accommodation that uses mobile payments, smart TVs, keyless entry, or other tech amenities.
• About 81% of modern travelers want greater digital customer service from hotels.
• Roughly 59% of travelers claim they are willing to pay extra to ensure their trips are more eco-friendly.
• Hotels that use virtual tours are seeing a significant boost in revenue, up to 135%.

General Hotel Industry Statistics, Facts, and Trends

• Wyndham Hotels & Resorts tops the list of hotel companies by property count, with almost 9,000 units in its global portfolio as of Sep 2021.

• The hotel segment is expected to have 1.33B users by 2027.
• The percentage of user penetration is projected to increase from 14.8% in 2023 to 16.8% in 2027.
• The average revenue per user (ARPU) is forecasted to reach $0.36K.
• Online sales will make up 81% of the hotel segment’s total revenue by 2027.
• The US is expected to generate the most revenue globally in the hotel sector, with a forecasted amount of $106,100.00M in 2023.
• Hilton is the most valuable hotel brand as of 2022, worth around $12.04B.

• The US hotel industry’s RevPAR (revenue per available room) is projected to increase to $103 in 2024 from $98 in 2023.
• As of Q4 2022, the United States had the highest number of hotel projects in the pipeline: 5,465. It’s followed by China, with 3,581 projects.
• Europe’s hotel occupancy rates reached 64.6% in 2022.
• The travel and tourism industry contributed around $5.8T to the world’s GDP in 2021.
• Booking Holdings, Inc., a major player in the online travel industry, has a net worth of $96.81B as of Mar 23, 2023.
• In 2021, Marriott had about 1.42M guestrooms worldwide. That’s nearly 400,000 more than its top competitor, Hilton Worldwide.

• Smart hospitality was valued at around $6B in 2020 and is projected to grow to $58.1B in 2027, with a CAGR of 22.6%.
• The US hotel industry’s average rental revenue for an occupied room per day is expected to rise from $145 in 2022 to $155 in 2024.
• Occupancy rates in the US hotel industry are predicted to increase from 63.4% in 2022 to 66.4% by 2024.
• Forbes ranked Marriott International Inc. as the leading hotel and resort chain in sales. The company generated ~$13.8B in 2021.

• Over three-quarters (78%) of hotels plan to up their investment in hotel technology over the next three years.
• Data security concerns 39% of hotel executives, with 28% being very concerned.
• Bleisure travel now accounts for nearly one-third (33%) of the global business travel market, with demand projected to grow at an impressive 19.5% CAGR. 
• The bleisure market is expected to be worth almost $594.51B in 2023 and could reach $3,530.53B by 2033.

Fun Facts about the Hotel Industry

• The city with the most 5-star hotels is Macau, China, with 22 five-star hotels, including The Londoner Hotel.
• The First World Hotel in Malaysia has been the largest hotel in the world since 2020, with a total of 7,351 rooms across two buildings.
• California, Texas, and Florida are the top three states with the highest number of hotels and motels, with 15,557, 14,733, and 9,410 businesses, respectively.
• Nearly nine in 10 guests (87%) have admitted to taking something from a hotel room at least once.

• Towels, soap dishes, and tissue boxes are the top three items stolen from hotels, each taken by around 35% of guests.
• About 72% of professionals plan to use hotels for work-related needs in 2023 and beyond.
• With over 7,000 rooms, including 3,068 suites, The Palazzo is the biggest hotel in the USA.
• Nishiyama Onsen Keiunkan, operational since 705, is widely regarded as the oldest hotel globally.
• The oldest hotel in the United States is Hotel El Convento, which has its roots in a Carmelite monastery dating back over 365 years.
• Ellsworth Milton Statler opened the first American hotel chain in 1901 with the Statler Hotel in Buffalo, NY. The chain grew to over a dozen properties and was acquired by Hilton Hotels in 1954.
• The most expensive hotel in the world is Lover’s Deep Luxury Submarine Hotel, with a nightly rate of $175,000.

• Airbnb has become a global phenomenon, with its market capitalization valued at $73.34B as of April 2023, posing increased competition for the hotel industry.
• Gevora Hotel, located in Dubai, holds the title of the tallest hotel globally, towering at 1,169 ft (356.3 meters) and comprising 75 floors.
• In June 2022, the mean price for a hotel room in Miami was $304.

• Hotel brands that use high-quality images on their site enjoy a 15% conversion rate boost compared to those that use low-quality or minimal photos.
• Third-party booking services take a 10–22% cut of hotels’ revenue, with larger chains losing 10% to 15% and smaller hotels losing 18–22%.

Sustainability in the Hotel Industry

• Over the last two years, 60% of people have stayed at a hotel with sustainable practices.
• Most tourists (70%) are willing to spend more on sustainable accommodation, with the most common amount being an additional “16–20%.”

• Booking.com has awarded a Travel Sustainable badge to more than 100,000 properties globally for their sustainability initiatives.
• Nearly eight of 10 leisure travelers prioritize water conservation, with 27% believing hotels should allow guests to opt out of daily cleaning and towel change services. 

Hotels & Motels in the US: Employment Statistics

• The number of people working in the hotels and motels industry in the US has reached 2,244,618 in 2023.
• As of 2023, the hotels and motels industry employs 2,244,618 people, growing by an average of 5.8% between 2018 and 2023.
• The typical US hotels and motels business employs 12.4 people.

• COVID-19 has wiped out over a decade of job growth in the hotel sector.
• Among the accommodation and food services industries, the hotels and motels sector is ranked 4th in terms of employment and is the 14th largest industry in the US.
• The mean annual salary for a hotel desk clerk in the US is $25,639 as of Apr 11, 2023.
• As of March 2023, the hotel industry had a 5.0% unemployment rate.
• Roughly 68% of hotel executives plan to incorporate new technologies to attract and retain staff.

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Hotel Guests: Statistics

• About 63% of Americans rated Marriott as their most favored hotel brand. Holiday Inn and Holiday Inn Express ranked second and third.
• Marriott received the highest score of 78 out of 100 in the 2022 American Customer Satisfaction Index (ACSI), followed by Hilton and Best Western, with scores of 76 and 75, respectively.
• The Ritz Carlton received the highest score among luxury hotels in May 2022, rated 885 out of 1,000 from US and Canadian guests.

• WoodSpring Suites topped the list of North America’s best budget hotel brands in 2022, with a customer satisfaction index score of 798. America’s Best Value Inn followed closely in second place, scoring 795.
• About 41% of global travelers use OTAs (online travel agencies) to book hotels, 29% make reservations directly, and another 29% rely on travel agents or tour operators.

• Nearly 40% of hotel guests are inclined to write a review if they have a positive experience. In comparison, 48% are likelier to do so after a negative experience.
• Most users read 6–12 reviews on TripAdvisor before deciding on a place to stay. Recent reviews are especially valuable, with 80% of respondents prioritizing them.
• The average length of hotel stays globally in 2022 was 1.93 nights.
• Most travelers (80%) value the ability to easily change or cancel their reservations.
• About 62% of guests prefer to use a hotel app for check-in and checkout.
• Six in 10 Americans say they’re likelier to stay at hotels in 2023 compared to 2022.
• Almost half of travelers (45%) consider on-demand entertainment access to be essential for an unforgettable hotel experience.
• More than half of travelers (54%) voted for contactless check-in and checkout as a feature they’d like to see permanently adopted by hotels in the next three years, with contactless payments coming in second at 49%.
• Close to 56% of travelers are concerned about the privacy and security of their data provided to hotels, while 20% are highly concerned.
• The majority of hotel bookings (59%) are made through online channels in 2023.

Stacking It All Up

There you have it.

A comprehensive list of hotel industry statistics, facts, and trends.

Let us know in the comments if there are any other stats you’d like to see.

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Sources

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Max Woolf

As a Digital PR specialist and a member of the Society of Professional Journalists (SPJ), Max has 5+ years of writing experience.
Over the course of his career, Max’s work has garnered significant attention, with features in numerous prominent publications such as The New York Times, Forbes, Inc., Business Insider, Fast Company, Entrepreneur, BBC, TechRepublic, Glassdoor, and G2.