Hotel & Motel Franchises articles and ratings
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Hotel & Motel Worldwide Market Overview
Benefits of owning a Hotel & Motel Franchise
Market size 2018
- $142 billion U.S. dollars
Relevance
- Revenue is expected to show an annual growth rate (CAGR 2018-2023) of 6.4%, resulting in a market volume of $193.851 billion U.S. dollars by 2023.
Advantages
- – Growing demand for hotels franchises;
- – Booming travel and tourism industry;
- – Increasing demand in the budget hotels;
- – Advancements in Technology;
- – Consumer Shift in Asset Valuation.
Opportunities
- – Experience in marketing, finance and customer services;
- – Online reputation impacts revenue potential;
- – Lack of barriers to entry franchises;
- – The increase in the number of potential customers in this industry.
Successful practice
- – Use social to booking;
- – Make it easy to be found online;
- – Introducing new initiatives to reflect market changes;
- – Group Accommodations;
- – Security & Liability.
Trends
- – Demand for luxurious lifestyle;
- – Online reviews and other types of user-generated content;
- – Travelers don’t focus on star ratings or other industry classifications;
- – Information technology in the Hotel Industry.
Segmentation by type
- – Hotel size or number of rooms: Under 200 rooms, 200 to 399 rooms, 400 to 700 rooms, more than 700 rooms;
- – Target markets: business, airport, suites, residential, resort, timeshare, casino, convention and conference hotels;
- – Levels of service: World class service, Mid-range service, Budget/Limited service;
- – Ownership and affiliation: Single owner, Chain hotels.
Top 10 Hotel & Motel Franchises
- Marriott International, Inc.
- InterContinental Hotels
- Wyndham Hotel Group
- Choice Hotels
- Hilton Hotels
- Holiday Inn and Holiday Inn Express
- Red Roof Inn
- Motel 6
- Baymont by Wyndham
- Red Lion Hotels
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