Top 25 Companies in Hospitality Market: Market Research Report (2024–2035)
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Hospitality Market Size is projected to Grow from USD 4.21 Trillion in 2024 to USD 8.41 Trillion by 2035, at a CAGR of 6.49% during the forecast period 2025–2035. Investment in hotel developments is expected to rise significantly over the coming years due to the tourism industry's tremendous growth. Rising spending power, a greater desire for high-end lodging, and other factors are the causes of this.
Introduction
Hospitality refers to the service and care offered to guests, travelers, or customers, encompassing lodging, food and beverage, recreation, and event hosting. It revolves around creating positive, welcoming experiences in settings such as hotels, restaurants, resorts, and entertainment venues. The Hospitality Market is the economic ecosystem formed by businesses that provide these services, ranging from global hotel chains and boutique stays to fast-food outlets and luxury dining. Driven by consumer lifestyle shifts, travel patterns, and digital transformation, the market is dynamic and expansive. Current opportunities include the rise of eco-tourism and wellness retreats, the integration of AI in guest services, and the growing demand for personalized, experiential travel. With major international events boosting tourism, and travelers seeking sustainability and authenticity, businesses can leverage tech-driven solutions, hyperlocal offerings, and inclusive experiences to innovate and capture new segments, particularly among Gen Z and millennial audiences seeking meaningful and memorable stays.
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Hospitality Market Size & Statistics
- The market for Hospitality was estimated to be worth USD 4.21 Trillion in 2024.
- The market is going to expand at a CAGR of 6.49% between 2025 and 2035.
- The Global Hospitality Market Size is anticipated to reach USD 8.41 Trillion by 2035.
- North America is expected to generate the highest demand during the forecast period in the Hospitality market
- Asia Pacific is expected to grow the fastest during the forecast period in the Hospitality market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the Hospitality market. In the anticipated years, the growth of the global market will probably be aided by a supportive government strategy to develop the hospitality industry. Advances in technology, internet infrastructure, Internet of Things applications, and energy efficiency are also contributing to the growth of the region's hospitality industry. Additionally, the region's market will be propelled by a thriving tourism industry, more contemporary hotel infrastructure, and a high rate of new hotel openings in many Asia-Pacific countries, including Thailand, Malaysia, and Indonesia.
North America is expected to generate the highest demand during the forecast period in the Hospitality market. Higher per capita income across the U.S. and Canada is enabling more frequent travel and spending on premium hospitality experiences. Consumers are prioritizing leisure, wellness, and immersive stays, fueling demand for hotels, resorts, and entertainment venues. The rise of online travel agencies (OTAs) and mobile apps has revolutionized how travelers book accommodations and experiences. Instant access, personalized recommendations, and loyalty programs are enhancing customer engagement and expanding market reach.
Top 10 trends in Hospitality Market
- Workforce empowerment and talent retention
- AI and contactless technology integration
- Hyper-personalization of guest experiences
- Sustainable and green hospitality practices
- Experiential and culinary tourism
- Data-driven decision-making and dynamic pricing
- Wellness and health-focused amenities
- Social media and influencer-driven branding
- Rise of boutique and lifestyle hotels
- Flexible booking and cancellation policies
- Workforce empowerment and talent retention
Hotels are investing in better wages, training, and career mobility to attract and retain skilled staff. Empowered employees enhance guest satisfaction and build stronger brand loyalty, turning staffing challenges into strategic advantages.
- AI and contactless technology integration
From mobile check-ins to voice-controlled rooms, AI and contactless tech streamline operations and elevate convenience. These tools reduce human error, improve service speed, and cater to modern travelers’ expectations for seamless digital experiences.
- Hyper-personalization of guest experiences
Using data analytics and smart systems, hotels tailor everything—from room settings to dining options—to individual preferences. This creates memorable stays and boosts repeat bookings through customized loyalty programs.
- Sustainable and green hospitality practices
Eco-conscious travelers are driving demand for energy-efficient buildings, plastic-free amenities, and locally sourced food. Hotels are responding with green certifications, waste reduction programs, and net-positive sustainability goals.
- Experiential and culinary tourism
Guests seek immersive experiences beyond accommodation, like cooking classes, cultural events, and sensory dining. Hotels are becoming destinations themselves, offering curated activities that reflect local flavor and authenticity.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Hospitality market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 25 Companies Leading the Hospitality Market
- Marriott International
- Hilton Worldwide Holdings
- Hyatt Hotels Corporation
- AccorHotels
- InterContinental Hotels Group (IHG)
- Four Seasons Hotels & Resorts
- NH Hotel Group
- Melia Hotels International
- Shangri-La Hotels & Resorts
- Wyndham Hotel Group
- The Cheesecake Factory
- Jin Jiang International Hotel Management
- Kimpton Hotels & Restaurants
- Taj Hotels (Indian Hotels Company Limited)
- The Oberoi Group
- ITC Hotels
- Radisson Hotel Group
- Leela Palaces, Hotels and Resorts
- Choice Hotels International
- Loews Hotels & Co
- Dorchester Collection
- Extended Stay America
- G6 Hospitality
- OYO Rooms
- Banyan Tree Holdings Limited
- Marriott International, Inc.
Headquarters – Bethesda, Maryland, USA
Marriott is the world’s largest hospitality company, operating over 8,500 properties across 139 countries. Its diverse brand portfolio—from Ritz-Carlton to Courtyard—caters to luxury, business, and budget travelers. Marriott leads in AI and contactless technology integration, offering mobile check-ins, smart room controls, and personalized loyalty programs through Bonvoy. The company is investing in sustainable hospitality practices, aiming for net-zero emissions by 2050. Marriott’s expansion into experiential tourism includes curated local activities and culinary events, enhancing guest engagement. With strong digital infrastructure and global reach, Marriott continues to redefine modern hospitality.
- Hilton Worldwide Holdings Inc.
Headquarters – McLean, Virginia, USA
Hilton operates over 7,000 hotels in 122 countries, with iconic brands like Waldorf Astoria, DoubleTree, and Hampton. The company is a pioneer in hyper-personalization of guest experiences, using data analytics to tailor services and amenities. Hilton’s contactless technology includes Digital Key and voice-enabled room controls, enhancing convenience and safety. Its Travel with Purpose initiative promotes green hospitality, focusing on energy efficiency, water conservation, and community impact. Hilton also invests in workforce empowerment, offering career development and mental wellness programs for staff. Its blend of innovation and service excellence makes Hilton a global hospitality leader.
- Hyatt Hotels Corporation
Headquarters – Chicago, Illinois, USA
Hyatt operates more than 1,200 properties across 70 countries, with brands like Park Hyatt, Andaz, and Hyatt Centric. Known for its focus on wellness and health-focused amenities, Hyatt offers spa retreats, fitness programs, and mindful dining. The company integrates AI-driven guest services and mobile-first booking platforms to enhance personalization. Hyatt’s loyalty program, World of Hyatt, supports experiential tourism through curated local adventures. Sustainability is central to its strategy, with goals to reduce carbon emissions and eliminate single-use plastics. Hyatt’s emphasis on lifestyle, wellness, and digital innovation positions it as a forward-thinking hospitality brand.
- AccorHotels
Headquarters – Issy-les-Moulineaux, France
Accor operates over 5,400 hotels in 110 countries, spanning luxury, mid-scale, and economy segments. Its brands include Sofitel, Novotel, and Ibis. Accor is advancing sustainable hospitality practices, investing €500 million in eco-friendly infrastructure and carbon reduction. The company embraces experiential and culinary tourism, offering immersive local dining and cultural programs. Accor’s ALL loyalty platform uses data-driven personalization to tailor guest experiences. It also leads in flexible booking policies, adapting to post-pandemic travel needs. With a strong presence in Europe, Asia, and Africa, Accor combines global scale with local authenticity.
- InterContinental Hotels Group (IHG)
Headquarters – Windsor, Berkshire, UK
IHG manages over 6,000 hotels under brands like InterContinental, Holiday Inn, and Kimpton. The company is known for its digital transformation, offering mobile check-ins, smart room features, and AI-powered customer service. IHG’s Green Engage system supports sustainable operations, helping hotels track and reduce environmental impact. The brand emphasizes experiential travel, with curated stays and local partnerships that reflect regional culture. IHG also focuses on talent retention, offering leadership programs and inclusive workplace initiatives. Its blend of technology, sustainability, and service excellence makes IHG a key player in global hospitality.
Company Profiles
- Marriott International
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Hilton Worldwide Holdings
- Hyatt Hotels Corporation
- AccorHotels
- InterContinental Hotels Group (IHG)
- Four Seasons Hotels & Resorts
- NH Hotel Group
- Melia Hotels International
- Shangri-La Hotels & Resorts
- Others.
Conclusion
The global hospitality market is evolving into a tech-driven, experience-centric industry fueled by shifting consumer preferences and rising expectations. Personalization, contactless technology, and wellness-focused services are redefining how hotels and resorts engage with guests. As sustainability and ethical tourism gain traction, companies are adapting with green infrastructure and community-driven initiatives.
About the Spherical Insights & Consulting
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