Online Hotel Booking in the US - Industry Market Research Report
Description
Online Hotel Booking in the US
The Online Hotel Booking industry comprises establishments primarily providing hotel booking services via online platforms. These websites serve as third-party platforms for customers to research and make hotel reservations. Consequently, this industry excludes hotels that offer direct bookings on their websites and brick-and-mortar travel agencies. Over the past five years, the industry benefited from strong growth in the percentage of business conducted online, indicating more individuals are willing to make online reservations. Nevertheless, the industry was hit by the unprecedented COVID-19 that led to a substantial decline in travel rates. As a result, demand for accommodation declined overall, causing industry revenue to fall sharply in 2020. As travel restrictions were lifted in later 2021, demand has recovered strongly due to the release of pent-up demand. Over the five years to 2023, industry revenue is expected to grow at an annualized rate of 1.5% to $47.1 billion, including a 11.6% growth in 2023 alone.
This industry includes establishments that make hotel reservations and bookings online. The industry excludes brick-and-mortar companies that provide hotel reservation services.
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.
The Online Hotel Booking industry comprises establishments primarily providing hotel booking services via online platforms. These websites serve as third-party platforms for customers to research and make hotel reservations. Consequently, this industry excludes hotels that offer direct bookings on their websites and brick-and-mortar travel agencies. Over the past five years, the industry benefited from strong growth in the percentage of business conducted online, indicating more individuals are willing to make online reservations. Nevertheless, the industry was hit by the unprecedented COVID-19 that led to a substantial decline in travel rates. As a result, demand for accommodation declined overall, causing industry revenue to fall sharply in 2020. As travel restrictions were lifted in later 2021, demand has recovered strongly due to the release of pent-up demand. Over the five years to 2023, industry revenue is expected to grow at an annualized rate of 1.5% to $47.1 billion, including a 11.6% growth in 2023 alone.
This industry includes establishments that make hotel reservations and bookings online. The industry excludes brick-and-mortar companies that provide hotel reservation services.
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.
Table of Contents
38 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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