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Global Hotels: Catering to a New Traveller

August 2015

Strong performances in Asia Pacific, North and Latin America ensured growth of 5% in hotel sales in 2014, despite issues in Western and Eastern Europe. Major hotels had a strong year, as they kept innovating. The past year has seen the continuing rise of peer-to-peer sites, the ongoing increase in Chinese tourists, and millennial travellers taking centre stage. Global hotel chains are aiming to benefit from technological innovations and the introduction of lifestyle, soft and boutique brands.

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Recovery continues

In 2014, the global hotel industry achieved its fifth consecutive year of growth, with sales of US$512 billion.

A dynamic year

The global hotel industry saw significant dynamism in 2014. IHG acquired boutique chain Kimpton Hotels, Hilton launched its Curio and Canopy brands, Marriott pursued millennial travellers through social media and its own production studio, while rumours around a Starwood takeover gripped the industry.

Strong growth for P2P

Peer-to-peer goes from strength to strength. Awareness of private rental platforms is growing, meaning companies like Airbnb and HomeAway are starting to impact the bottom line of hotels.

Attracting Chinese tourists

Chinese tourists are the honey pot of the industry, with strong growth in travellers expected in the coming years. Although the Chinese currently have limited spend on lodging, this is expected to increase in the coming decade, as disposable incomes rise.

Innovation

Global hotels are reaching out to the millennial generation by embracing mobile technology, as well as implementing new technological innovations in the design of their brands.

Growth set to continue

While 2015 is expected to see slow growth, due to economic and geopolitical worries in a number of regions, growth is expected in each year to 2019. This will be driven by increased tourism flows and higher spending.

Introduction

Scope
Key findings

Global and regional performance

Global tourism flows continue growth
Business travel registers strong growth
Hotel sales register positive performance
Asia Pacific drives hotel value sales growth
Case study: Potential for growth in Chinese lodging spending
Chinese spending on lodging is conservative
China shows strong growth potential
China domestic hotel market shows budget preference
Political developments encourage Chinese long haul travel
Increased Chinese spending on lodging expected

Competitive landscape

Global players hang on to their ranking
Little movement at the top
Marriott targets millennials to prepare for future
Clear focus on technology to lure millennials
Hilton focuses on authenticity and local flavour with new brands
Intercontinental boosts boutique portfolio
Starwood performance starts speculations of takeover
Wyndham and Intercontinental front-runners for takeover bid
Starwood innovates to keep portfolio appealing

The Impact of Peer-to-Peer

Sharing grows into travel accommodation
Private rentals shaking up lodging
Mid-market hardest hit by peer-to-peer rise
Hotels jump on peer-to-peer bandwagon
Future growth particularly in peer-to-peer supply
Objectives and challenges for peer-to-peer platforms
Case study: Airbnb and HomeAway draw swords
HomeAway and Airbnb register astronomical growth
P2P platforms have hotels in sight
Airbnb at the forefront of legal battles
HomeAway changing its business model
Cracking China remains a dilemma
Future focus on high-end as peer-to-peer goes luxury

Future performance

Stable economic outlook benefits travel industry
Mixed bag for hotel industry in prospect
Asia Pacific main draw for hotel companies
Country future performance
Trends to watch
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