Global hospitality industry contains a broad group of businesses such as hotel industry, restaurants, theme parks, event planning, and many more that provides services to customer. Factors that were driving the hospitality industry before pandemic COVID-19 include increasing disposable income, new travel trends, increasing online business of travelling due to increased internet penetration and internet banking, web-presence of hotels & tourism directories and many more. The ever-expanding global tourism industry was one of the major factors driving the growth of the hospitality industry before the coronavirus outbreak. The number of international tourist arrivals had risen continuously over the past decades. As per the growth projection made by the World Tourism Organization (UNWTO), the number of tourist arrivals across the globe was expected to cross 1.5 billion by 2020. Key factors affecting the market after the pandemic include the decrease in tours and travels as most of the flights are getting canceled. The government all across the globe are cancelling the foreign visits and locking down most of the area which is one of the other major reasons behind the slowing down of hospitality industry.
Request a Free Sample of our Global Hospitality Industry: https://www.omrglobal.com/request-sample/hospitality-industry
The global hospitality industry report is segmented based on food and beverages, travel and tourist, lodging, and recreation. Travel and tourist segments along with the recreation segment are majorly declining due to the lockdowns happening across the world. The effect of COVID-19 on hospitality industry can be observed in all the regions including North America, Europe, Asia-Pacific, and Rest of the World. In the US, many hotels had reported a sudden increase in cancellations for both individual reservations and group events. Additionally, since the origin of the COVID-19 outbreak, many cities in the Asia Pacific are on complete lockdown, which is in turn restricting the growth of the hospitality industry.
A full Report of Global Hospitality Industry is Available at: https://www.omrglobal.com/industry-reports/hospitality-industry
Verticals Affected Most
• Food and Beverages
• Travel and Tourism
Impact of COVID-19 on major economies
• North America
• United States
• Rest of Europe
• Rest of Asia-Pacific
• Rest of the World
• Airbnb, Inc.
• Burger King Corp.
• Choice Hotels International, Inc.
• Domino's Pizza, Inc.
• Expedia, Inc.
• Four Seasons Holdings Ltd.
• InterContinental Hotels Group PLC
• KFC Corp.
• Marriott International Inc.
• McDonald's Corp.
• Starbucks Corp.
• Subway Restaurants Inc.
• The Walt Disney Co.
• Wyndham Hotels & Resorts Inc.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/hospitality-industry
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit Orion Market Research
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 7803040404