Amid a landscape of shifting sands, the U.S. hotel and lodging sector marked 2023 with record-breaking revenue, buoyed by high demand and surging average daily rates. The industry, adapting to post-pandemic norms, anticipates moderated growth in 2024, against a backdrop of a challenging economy and changing consumer preferences towards value and digital engagement. Challenges persist, from labor shortages to the competition posed by short-term rentals. Overall, this will push major chains to evolve with new brands and enhanced online experiences, catering to a generation of travelers seeking both deals and unique stays.
This report is part of the U.S. Travel Market Report 2023-2027 series, which features an overview of the U.S. travel market, along with detailed data and analysis of five key segments: airline, hotel & lodging, car rental, cruise and packaged travel. A standalone report dedicated to online travel agencies rounds out the coverage. Collectively, the series provides comprehensive market sizing, projections and analysis for the U.S. travel industry from 2021-2027.
Other reports in the U.S. Travel Market Report 2023-2027 series include: (available now or publishing soon):
U.S. Travel Market Report 2023-2027: https://www.phocuswright.com/Travel-Research/Market-Overview-Sizing/US-Travel-Market-Report-2023-to-2027
U.S. Airline Market Report 2023-2027: https://www.phocuswright.com/Travel-Research/Market-Overview-Sizing/US-Airline-Market-Report-2023-to-2027
U.S. Car Rental Market Report 2023-2027: Coming soon
U.S. Cruise Market Report 2023-2027: https://admin.phocuswright.com/Travel-Research/Market-Overview-Sizing/US-Cruise-Market-Report-2023-to-2027
U.S. Online Travel Agency Market Report 2023-2027: https://www.phocuswright.com/Travel-Research/Market-Overview-Sizing/US-Online-Travel-Agency-Market-Report-2023-to-2027
U.S. Packaged Travel Market Report 2023-2027: Coming soon
U.S. Travel Market Data Sheet 2023-2027 (subscriber only)
Full series: https://www.phocuswright.com/Travel-Research/Market-Overview-Sizing/US-Travel-Market-Report-2023-to-2027
