The performance of the global hotels, resorts & cruise line market is forecast to accelerate, with an anticipated compound annual growth rate (CAGR) of 8.2% for the five-year period 2011 - 2016, which is expected to drive the sector to a value of $922.7 billion by the end of 2016.
The industry had total revenue of $623.2 billion in 2011, representing a CAGR of 4.1% between 2007 and 2011.
The hotels, resorts and cruise lines sector comprises revenues accrued by owners and operators of hotels, resorts and cruise ships for services rendered, however casino-hotels are excluded from the research.
Hotels and Motels segment's sales proved the most lucrative for the global hotels, resorts & cruise lines market in 2011, with total revenues of $575.6 billion, equivalent to 92.4% of the sector's overall value. Customers are mainly individuals using accommodation and services offered but also companies using events and conference venues.
The hotels, resorts and cruise line industry is heavily fragmented despite the presence of several large, well-known hotel operators, such as Carnival, Accor, Hilton or Starwood generating only around 7% of the global revenues.
Europe accounts for 39.2% of the global hotels, resorts and cruise lines market value, with the United States representing a further 36.1%. Asia-Pacific accounts for 19.3% and ROW represents the final 5.5%.
For more information on the global hotels, resorts & cruise line market, see the latest research: Global Hotels, Resorts & Cruise Line Market Report
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