Hotels and Motels - 2023 U.S. Market Research Report with Updated Recession Forecasts
The 2023 Hotels and Motels Market Research Report is one of the most comprehensive and in-depth assessments of the industry in the United States with over 100+ data sets covering 2013-2026.
This Kentley Insights report includes historical and forecasted market size, product lines, profitability, financial ratios, BCG matrix, statistics by state, operating expense details, organizational breakdown, consolidation analysis, employee productivity, price inflation, pay bands for the top 20 industry jobs, trend analysis and forecasts on companies, locations, employees, payroll, and much more.
The Hotels and Motels industry includes companies primarily engaged in providing short-term lodging in facilities known as hotels, motor hotels, resort hotels and motels. These companies may offer food and beverage services, recreational services, conference rooms and convention services, laundry services, parking another services.
This report was developed utilizing the results from extensive business surveys and econometrics. Professionals utilize this report for market sizing, benchmarking, strategic planning, due diligence, cost-cutting, planning, understanding industry dynamics, evaluating opportunities, forecasting, streamlining, gap analysis, and other analyses.
Review the table of contents to see the data-rich insights, which leaders have come to depend on for their research, strategic, and benchmarking needs.
Below are a few of the hundreds of stats from the report:
In 2022, industry sales were $208.2 billion
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Over the past 3 years, the industry has grown at an annual rate of 5.9%
The report has historical, annual and forecasted growth rates
There are 41,119 companies in the industry
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SALES PER COMPANY
In 2022, the average sales per company was $5.1 million
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INFLATION & PRICING
2021 inflation was 16.8%
The report has historicals (2014-2022), 4 years of monthly figures, and 2023 & 5-year forecast
For unprofitable companies, the average net loss is -12.2%
The report has more on market and profitability dynamics
Employee productivity is $134,197
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4% of expenses is spent on health insurance
Benchmark against 24 other expense categories
In 2022, industry operating expenses grew 23.1%
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In 2022, payroll per employee was $29,597
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PAYROLL BY STATE
California averages $36,520 in payroll per employee
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JOB CATEGORIZATION BENCHMARKS
4.3% of employees in the industry are in management positions
Benchmark against 13 other job categories
JOB CATEGORIZATION PAY RANGES
The average industry hourly pay for office and administrative jobs is $15.69
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The above stats represent a small fraction of what you will find in this report.
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