United States/WA: Global Online Marketing Place for Hospitality Services Market Will Boom In Near Future
Report Pages:[130 Pages]
Overview
Hospitality services are basically connected with all the elements of customer service, and this includes providing information about your hotel, restaurants, pubs, and other establishments located in any city or town. This will help people visualize the hotel, restaurant, and other establishments in their localities. One of the most common types of hospitality services being offered by the hotels, restaurants, pubs, etc. are dining offers, but they also include bar-hopping services, home delivery services, room service, delivery services, and others. Nowadays, many consumers are turning to online marketing places in order to find the right hotel, restaurant, pub, or other establishments.
Competitive Landscape
Major players contributing to the global online marketing place for hospitality services market include Travelocity, Expedia, Orbitz, Hotels, Hotwire, OneTravel, Booking, Priceline, Agoda, and MoreHotels4Less.
Drivers
Growing Internet usage in conjunction with the increased smartphone penetration combined with flourishing tourism and hospitality sectors is expected to boost growth of the online marketing place for hospitality services market throughout the forecast period.
Moreover, rising investments by market players on digital marketing to attract newer consumers are expected to augment growth of the online marketing place for hospitality services market over the forecast period.
The Epitome of the COVID-19 Aftermath
The onset of the COVID-19 pandemic has been fruitful for the global online marketing place for hospitality services market. The Internet traffic skyrocketed as a result of outdoor restrictions imposed due to the pandemic which, in turn, has created a plethora of opportunities for the market participants to capitalize on. Recently, the new-found trend of ‘revenge travel’ is gaining popularity after the ease in pandemic-led travel restrictions, which is favoring the growth of the market.
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Key Takeaways
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The online marketing place for hospitality services market is projected to grow at a CAGR of XX % over the forecast period owing to the rising number of Internet users and expanding tourism sector. For instance, in June 2021, the World Tourism Organization (WTO) revealed that FTA (foreign tourist arrival) stood at 399 million globally in 2019.
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Across the geographical horizons, the online marketing place for hospitality services market in the North American region is poised to propel at a significant rate on the heels of growing consumer inclinations towards online booking/purchasing options.
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In parallel, the Asia Pacific region is also boding well for the online marketing place for hospitality services market in terms of the rising number of FTAs in parallel to the hospitality centers.
Global Online Marketing Place for Hospitality Services Market, by Platform Type (Desktop and Mobile), by Service Type (Travel & Tourism, Accommodation, and Food & Beverages), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is projected to attain a market valuation of US$ XX million in 2021 and is anticipated to grow at a CAGR of XX% during the forecast period (2021-2028), as mentioned in a new report published by Coherent Market Insights.
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