The hospitality industry covers lodging and dining services. It comprises businesses that provide customers with lodging, prepared meals, snacks and beverages for immediate consumption. It includes both accommodation and food service establishments as these two activities are often combined at the same establishment.
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The global hospitality market has shown modest growth in the past years with a CAGR of over 7%. The year 2017 recorded highest ever growth in this market with a net value of about $6 trillion as per TBRC’s inhouse consultants.
TBRC’s latest report show historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the hospitality industry to grow at a lower CAGR till 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Investment in the hospitality industry in the Asia-Pacific region decreased from $6.4 billion in the first half of 2013 to $3.3 billion in the same period in 2014, amid investor concerns over political unrest in markets such as Hong Kong and Thailand and economic uncertainty in China. 48% of Asian hotel investments in 2013 were made in Manhattan, Hawaii and London. In the same year, China was one of the most active hotel buyers, investing 27.4% of the total outbound capital from Asia.
The slowdown of China’s economy may hamper global hospitality investments as well as spending on leisure travel and hotels, and this is likely to dent the global hospitality market growth.
Companies included in the report are Compass Group PLC, McDonald’s, Starbucks, Marriott International, and Subway.
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