Hotels & Motels in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.Synopsis
Essential resource for top-line data and analysis covering the South Korea hotels & motels market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.Key Highlights
The hotels & motels industry value consists of all room revenues generated by hotels, motels and other accommodation providers through the provision of accommodation. The value does not include non-room revenues, such as casinos, shops and telecommunication services.
The South Korean hotels & motels industry’s total revenue valued of $5.7bn in 2016, representing a compound annual growth rate (CAGR) of 1.9% between 2012 and 2016.
Industry consumption volume increased with a CAGR of 1.9% between 2012 and 2016, to reach a total of 727.0 establishments in 2016.
Though demand in the South Korean hotels industry has been strong overall, it showcased weak growth in 2015. The contraction incurred in 2015 was a result of weaker demand due to the disruption of the MERS (Middle East respiratory syndrome outbreak) crisis and a reduced number of Chinese tourists amid political tensions between the two countries, leading occupancy rates and prices to fall. Additionally, the depreciation of the Japanese Yen in that year also reduced demand of Japanese tourists. In 2016, foreign visitors increased by 30.3% compared to 2015, boosting revenues of hotel operators, despite a slight drop in the average price of accommodation as occupancy rates remained relatively low.
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What was the size of the South Korea hotels & motels market by value in 2016?
What will be the size of the South Korea hotels & motels market in 2021?
What factors are affecting the strength of competition in the South Korea hotels & motels market?
How has the market performed over the last five years?
What are the main segments that make up South Korea's hotels & motels market?