Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Extended Stay Hotels in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
The analyst expects industry revenue to rise at a CAGR of 3.2% to $20.9 billion over the past five years, including an anticipated 2.9% increase in 2023.
Extended stay hotels offer flexible accommodations for both short- and long-term stays, making them a convenient and cost-effective choice compared to traditional apartment rentals.
These establishments provide a range of amenities, including in-suite kitchens and self-serve laundry facilities. However, the extended stay hotel industry is notably sensitive to shifts in both domestic and global economic conditions, and the advent of COVID-19 brought about significant disruptions and fluctuations.
Over the past five years leading up to 2023, this industry has witnessed positive growth, driven by increased expenditures on travel, robust corporate profits, and higher consumer spending.
Nevertheless, the impact of the pandemic was profound, as it disrupted these favorable economic trends, curbing spending and travel activities. Despite these challenges, the industry is poised for recovery, driven by a resurgence in leisure travel demand and the strong growth trajectory it experienced before the pandemic.
In essence, this industry is comprised of establishments that primarily offer lodging services ranging from short to long-term stays, typically within facilities recognized as extended stay hotels.
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
- Marriott International Inc.
- Extended Stay America, Inc.
- Hilton Worldwide Holdings Inc.
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/h9uy6f
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