Global Overview of the Hotel and Restaurant Industry

November 2021

This briefing examines how the hotels and restaurants industry performs 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 provide benchmarks against other countries globally.

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Examining four trends shaping the hotels and restaurants industry

Technology

Stricter safety protocols, changing consumer behaviour and rising labour costs are driving investment in technology and process automation. The hotels industry is expected to invest further in process optimisation tools that help to streamline repetitive and time consuming tasks.

Stricter safety protocols

Strict consumer safety protocols are expected to stay in place even after the COVID-19 pandemic. This is expected to include changes in hotel design to reduce crowding in public areas, and improve ventilation, water treatment and similar infrastructure.

Sustainability

Consumers are increasingly paying attention to sustainability. This is expected to impact the hospitality industry, with travellers increasingly opting for regional or shorter distance travel to reduce environmental impact. The hotels and restaurants industry will have to find ways to reduce waste and energy consumption.

Rise of new types of travel

“Workations” and other new types of travel are expected to rise in popularity over the forecast period. Travellers on “workations” typically desire a home-like experience, and hotels will have to find ways to improve the customer experience through offering a comfortable environment for work.

Scope
Examining four trends shaping the hotels and restaurants industry
COVID-19: Impact on hotels and restaurants
Hotels and restaurants among the industries most affected by COVID-19
Production value to fully recover in 2023
China and the US dominate the global industry
Cost discipline to continue as rising prices pressure profits
Tourism flows drive market growth in Europe
Chinese hotel operators remain in the lead
Total number of companies declines, due to closures during pandemic
Industry concentration expected to increase slightly
China and Europe to drive future growth
Lagging international tourism flows to delay industry’s recovery
Key future trends shaping the hospitality industry
China: Lower spending during the pandemic stalls industry’s growth
Hospitality sector bounces back from COVID-19 pandemic in 2021
US: Industry faces prolonged recovery from COVID-19 shock
Economic recovery supports restaurants, although hotels face prolonged recovery
Japan: Struggling travel sector to drag down industry’s performance
Ageing population and underperforming tourism sector to restrict demand growth
France: Gradual recovery in tourism to aid industry’s growth
Industry bounces back from the pandemic, but worker shortage puts pressure on companies
Spain: Struggling tourism sector to delay industry’s recovery
Rising competition in tourism sector to prolong industry’s recovery
Italy: Industry faces prolonged recovery from the pandemic
Industry faces subdued growth despite the recovering tourism sector
India: Industry recovers from COVID-19 shock
Accelerating domestic consumption to drive hospitality sector’s recovery
South Korea: Industry proves resilient during COVID-19
Recovering tourism and growing domestic spending to support growth
UK: Industry is heavily hit by the pandemic
Industry to see prolonged recovery
Germany: Industry faces slow recovery due to struggling tourism
Overcapacity in hotels sector and struggling tourism will hurt industry’s growth
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