Accommodation and Food Services in the US
Operators in the Accommodation and Food Service sector provide consumers with basic lodging accommodations and preparing meals or other food services when they are away from home. This sector comprises 15 different industries within the US economy, encompassing all aspects of accommodation providers and food services operators. Despite basic commonalities, there are starkly different levels of service provided throughout the subsequent industries. Over the past five years, this sector has experienced steady growth as consumers have increased their appetites for services provided by sector operators. This trend is expected to continue over the five years to 2023, albeit at a slightly slower pace. Economic conditions are anticipated to support this continued growth as consumer spending and corporate profit are anticipated to continue increasing during the five-year period. However, while the number of inbound trips by non-US residents is anticipated to continue increasing, the number of US residents traveling internationally in lieu of domestic travel will also increase at a faster rate, mitigating growth through tourism.
This sector is primarily occupied with providing lodging and food services to consumers for immediate consumption. This includes hotels, motels and other accommodation formats along with full-service restaurants, limited-service restaurants, food contractors and drinking places. This sector excludes civic and social organizations and entertainment facilities, such as theaters and amusement parks, that provide food services as a secondary product.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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