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.
This report comes in PPT.
Stricter safety protocols and workforce shortage are driving investment in technology and process automation. Variety of robot application is extensive, ranging from food preparation to customer service. Process automation helps to reduce the amount of repetitive and time-consuming tasks for employees, resulting in decreasing operating costs and increased efficiency.
Since the beginning of the pandemic hospitality companies need to comply with stricter safety protocols, requiring longer employees’ working hours and investments into infrastructure, such as proper ventilation and water treatment. As stricter safety guidelines are expected to stay in place post-pandemic, hotel and restaurant operators are set to further see increased operating costs.
Rising sustainability concerns among consumers continue to impact the hospitality industry, with diners increasingly opting for vegetarian and vegan meal options, and travellers choosing shorter distance travel to reduce environmental impact. As a result, hotels and restaurants will need to adapt to changing consumer preferences to sustain growth.
The number of business trips plummeted due to the pandemic and companies’ attempts to reduce CO2 emissions. Nevertheless, “workations” 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 work environment.
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