Facts about the Hospitality Industry – Hotelier Magazine

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The hospitality industry is an integral and indispensable part of the worldwide market. People are fascinated by the information and stories behind some of the hotels and their rooms. We present here a few astonishing facts about the hospitality industry.

Tallest hotels in a city

6 out of the top 10 tallest hotels in the world exists in one city. Yes, you guessed that right. Dubai has over half of the top 10 tallest hotels in the world.

Total number of hotel rooms in the world

Total number of rooms worldwide is expected to be around 15.5 million as per the Intercontinental hotel’s group report. The number has soared as on date. According to STR Global, the number of hotels rooms is over 18.5 million as on date and is expected to breach the 20 million mark soon.

The city with the Highest Average Room Rate

Many would believe that New York City; the city so nice, they named it twice, would take the trophy for this one. However, the city that has the highest average rate is in Geneva, Switzerland. A room can cost almost $308 on average per night.

Phew! Yerevan was out of calculation I see. :D

US Hotel Industry Revenue

The hotel industry in the US is bringing in a healthy revenue of over $162 billion in 2016. This is expected to rise even further in 2018 and beyond. Apparently, Americans are spending huge amounts of money on hotel and motel rooms on an annual basis. The story is pretty similar across the globe with the revenues of the hotel industry improving every year.

The Oldest Hotel in the world

Koshu Nishiyama Onsen Keiunkan in Japan is named as the oldest hotel in the world. Another amazing hospitality fact is that it is recorded in the Guinness Book of world records. The hotel is over 1300 years old. The ownership is held by the same family for over 50 generations.

The World’s Largest Hotel

Malaysia takes the cake for hosting the largest hotel in the world. First world hotel Malaysia is said to have around 7,351 rooms. The rooms are priced between $12 to $83 on average.

As an update to this hospitality industry fact, the largest hotel tag would soon be taken away from this Malaysian hotel. Abraj Kudai Hotel in Saudi Arabia would be opening in 2018 that would have around 10,000 rooms and over 70 restaurants.