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This statistic shows the global hotel industry market size from 2014 to 2018. The retail value of the global hotel industry was * billion U.S. dollars in 2018.

Global hotel industry - additional information

The global hotel industry comes under the umbrella of the travel and tourism industry, an industry which contributed **** trillion U.S. dollars to the global economy in 2018. Travelers who are on the road for more than a day need a place to sleep and rest - there are various types of lodging across the world to accommodate for this.

The global occupancy rate (the share of total rooms available which are occupied or rented at a given time) of hotels in most regions increased over the previous five years. Europe had the highest occupancy rate in 2018 at **** percent, closely followed by the Asia Pacific region with **** percent. In the same year, the Middle East and Africa were the most expensive region for hotels with an average daily rate of * U.S. dollars. The cheapest region for the last five years was Asia Pacific.