Mergers and acquisitions (M&A) in the hotel and other travel accommodation market are expected to increase, building on a strong year of activity in 2015. M&A interest is likely to be fueled by the desire for growth, high volume of global capital, availability of debt and equity, and continued favorable interest rates. The hotel and other travel accommodation industry saw a series of deals in 2015, with Blackstone Group acquiring Strategic Hotels & Resorts, Jin Jiang acquiring Groupe du Louvre and many more.
THE BUSINESS RESEARCH COMPANY EXPECTS THE HOTEL AND OTHER TRAVEL ACCOMMODATION MARKET TO GROW TO $1 TRILLION BY 2021
North America was the largest region in the hotel and other travel accommodation market in 2017, accounting for one third of the market share. This was mainly due to rising business activities, and increase in consumer spending in the region.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, Technological advances are enabling firms to deliver personalized services by obtaining customer intelligence. Companies are providing customized promotions and offers by collecting vital information about consumers’ likes, dislikes and preferences by using social media and technologies such as mobile software applications that track customer behavior. Hotels are now offering personalized menus, lighting, and other services based on customer information available from previous visits or intelligence gathered from social media. The Four Seasons Hotel spent $18 million to revise their website which will deliver personalized dynamic web pages to potential customers.
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Marriot International, Inc. was the largest company in the hotel and other travel accommodation market, with revenues of $17.1 billion for the financial year 2016. Marriot International, Inc.’s growth strategy aims to empower diverse business owners through its supply chain, advocating for visa and entry policies that facilitate travel. Marriot International, Inc. plans to have a global reach with 1 million rooms and an additional $50 billion real estate investment by owners and franchisees.
The hotel and other travel accommodation industry provides short-term accommodation, meals and other guest services for travelers and tourists. Establishments in this industry may include hotels, other travel accommodations, resort hotels and others.
Hotel And Other Travel Accommodation Market Global Briefing 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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