2022 Global Hotel and Restaurant Industry Overview: Technology, Tighter Safety Protocols, Sustainability, Rise of New Types of Travel – ResearchAndMarkets.com

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DUBLIN–()–The “Global Overview of the Hospitality and Restaurant Industry” report has been added to from ResearchAndMarkets.com offer.

The Global Overview of the Hospitality and Foodservice Industry provides a unique insight into the key trends shaping the industry worldwide and in the largest markets. Aimed at strategists and planners, it draws on the analyst’s extensive information resources to provide insight into key manufacturing, B2B and service sectors.

This briefing examines the performance of the hospitality industry globally and in major countries in terms of hotel and restaurant production. The report also provides data on production, market size, import, export, industry cost, industry profitability, and number of enterprises. The industry and market overview provides benchmarks against other countries around the world.

Four trends shaping the hospitality industry

Technology

Stricter security protocols, changing consumer behavior and rising labor costs are driving investments in technology and process automation. The hospitality industry should invest more in process optimization tools that help streamline repetitive and time-consuming tasks.

Stricter security protocols

Strict consumer safety protocols should remain in place even after the COVID-19 pandemic. This should include changes in hotel design to reduce clutter in public spaces and improve ventilation, water treatment and similar infrastructure.

Sustainability

Consumers are increasingly concerned about sustainability. This is expected to impact the hospitality industry, with travelers increasingly opting to travel regionally or over shorter distances to reduce environmental impact. The hospitality industry will need to find ways to reduce waste and energy consumption.

The rise of new types of travel

“Works” and other new types of travel are expected to grow in popularity over the forecast period. Travelers on “work” generally want a home-like experience, and hotels will need to find ways to improve the guest experience by providing a comfortable working environment.

Main topics covered:

  • Examination of four trends shaping the hospitality industry

  • COVID-19: Impact on hotels and restaurants

  • Hospitality and catering among the sectors most affected by COVID-19

  • Production value will fully recover in 2023

  • China and the United States dominate the global industry

  • Cost discipline will continue as rising prices weigh on earnings

  • Tourist Flows Drive Market Growth in Europe

  • Chinese hoteliers remain in the lead

  • The total number of businesses decreases due to closings during the pandemic

  • Industry concentration expected to increase slightly

  • China and Europe, drivers of future growth

  • Lagging international tourist flows to delay industry recovery

  • Key future trends shaping the hospitality industry

  • China: Lower spending during pandemic curbs industry growth

  • Hospitality industry rebounds from COVID-19 pandemic in 2021

  • US: Industry faces prolonged recovery from COVID-19 shock

  • Economic recovery supports restaurants, though hotels face prolonged recovery

  • Japan: Struggling travel sector will weigh on industry performance

  • An aging population and an underperforming tourism sector to limit demand growth

  • France: Gradual recovery of tourism to support the growth of the industry

  • Industry rebounds from pandemic, but labor shortage puts pressure on businesses

  • Spain: Ailing tourism sector delays industry recovery

  • Growing competition in tourism sector to prolong industry recovery

  • Italy: Industry faces prolonged post-pandemic recovery

  • Industry faces moderate growth despite recovery in tourism sector

  • India: Industry recovers from COVID-19 shock

  • Accelerating domestic consumption to boost the recovery of the hotel sector

  • South Korea: Industry Shows Resilience During COVID-19

  • Resumption of tourism and increase in domestic spending to support growth

  • United Kingdom: the industry is strongly affected by the pandemic

  • The industry will experience a prolonged recovery

  • Germany: Industry faces slow recovery due to struggling tourism

  • Overcapacity in the hospitality sector and struggling tourism will hurt industry growth

For more information on this report, visit https://www.researchandmarkets.com/r/y3wqan

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Cecil N. Messick