With this report Skift Research completes its effort to size the global accommodation industry by adding the estimates of the African, Middle Eastern and American (excl. U.S.) accommodation industry to the U.S., Europe and Asia Pacific estimates published earlier this year.
Skift Research estimates that the market size, measured by revenue, of the global accommodation sector is projected to reach $903 billion by 2022. At a regional level, the Americas is expected to contribute around 49%, about half of the total sector value, followed by Europe (25%), APAC (22%), Middle East (3%) and Africa (2%) in 2022.
The fastest growing segment of accommodations globally has been short-term rentals. The sector is estimated to have grown at a compounded growth rate (CAGR) of 10% between 2018-2022 while the hotels sector shows a negative CAGR (-1%) for the same time period. However, STRs still represent a very small section of the accommodation industry. As per our estimates, the share of STRs in the accommodation industry has increased from 10% in 2018 to 14% in 2022.
In addition to these topline estimates, this report includes an analysis of, and estimates for, key hospitality performance indicators such as revenue per available room, average daily rate, and occupancy rates for hotels in the top countries of Africa, the Middle East and the Americas. Similar indicators for the U.S., Europe, and APAC can be found in the respective reports published earlier.
What You'll Learn From This Report
- Global accommodation sector market size estimates, by region, by hotel sector and short-term rental sector, 2018–2022E
- Americas, Middle East and Africa hotel sector revenues of key countries, 2008–2022E
- Americas, Middle East and Africa hotels size and scale of companies of key countries, 2008–2019
- Americas, Middle East and Africa hotels key performance indicators of key countries, 2008–2019