Global Overview of Hotels and Restaurants Industry

November 2023

The briefing examines how the hotels and restaurants industry is performing globally and in the largest countries in terms of hotels and restaurants output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provides benchmarks against other countries in the world.

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Delivery

This report comes in PPT.

Key Findings

Digitalisation

Third-party delivery services are become even more integrated into the restaurant industry, propelled by advancements in technology and increasing consumer adoption of digital platforms. Restaurants are developing closer partnerships with these platforms, improving market reach and leveraging data analytics for targeted marketing and optimised operations. The rise of ghost kitchens also accelerates, allowing restaurants to meet delivery demand more efficiently.

Technology

The workforce shortage has spurred investments in technology and process automation. A wide range of robot applications is being explored, from tasks such as food preparation to enhancing customer service. Process automation plays a crucial role in minimising repetitive and time-consuming tasks for employees, ultimately leading to reduced operating expenses and heightened operational efficiency.

Menu diversification

The restaurant industry is increasingly focusing on health-conscious and personalised offerings, driven by consumer demand for wellness and customisation. Menus are expanding to include more plant-based, gluten-free, and nutrient-dense options, often tailored to individual dietary needs.

Rise of new types of travel

Due to the pandemic and corporate initiatives to lower CO2 emissions, business travel has experienced a significant decline. However, the concept of "workations" is anticipated to gain traction in the coming years. Those who embark on workations usually seek a domestic atmosphere while working remotely. Consequently, hotels are tasked with enhancing the customer experience by providing a conducive and comfortable workspace.

Scope
Key findings
Subdued consumer spending to curb industry’s growth in the near term
Growing incomes and affordable travel are boosting Asia's hotels and restaurants business
Elevated labour and energy prices pressure hotels and restaurants industry
Restaurant operators go digital to diversify revenue streams and sustain profit margins
Key trends
Macroeconomic/Industry trends
China’s hotel operators to maintain their dominance
After social distancing measures eased, the number of hospitality companies surged
With increasing costs, industry concentration is expected to see a rise
US : E asing operating costs and increased consumer incomes to support industry ’ s growth
Key trends in the US 2023/2024
China : Economic stagnation woes are expected to hinder short-term industry growth
Key trends in China 2023/2024
Japan : Real terms turnover is not expected to return to pre-pandemic levels by 2027
Key trends in Japan 2023/2024
UK : Industry to record real terms decline in 2023 as inflation remains elevated
Key trends in the UK 2023/2024
France : Near-term output is set to drop in real terms due to inflation and worker shortage
Key trends in France 2023/2024
Italy : The industry is poised for a significant boost due to strong tourism flows
Key trends in Italy 2023/2024
Germany : Real terms recovery to pre-pandemic levels not expected over the forecast period
Key trends in Germany 2023/2024
Spain: Industry’s growth is set to slow down due to rising financial pressures on consumers
Key trends in Spain 2023/2024
India : Return to pre-pandemic revenue levels is not anticipated over the medium term
Key trends in India 2023/2024
South Korea : Growth remains steady as tourism intensify and consumer incomes rise
Key trends in South Korea 2023/2024
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