The global hotel industry was forecasted to generate 55o billion U.S dollars in revenue in 2016. The hotel company contributing the most to this figure was the British hotel chain InterContinental Hotel Group which, in 2013, made 21.6 billion U.S dollars in over 4,600 hotels worldwide. Other major players in this industry include Hilton Worldwide and Marriott International with 3,992 and 3,672 hotels, respectively, across the world.
Important performance measures for the hotel industry are the average daily rate (ADR), the revenue per available room (RevPAR), and the occupancy rate of a hotel, In order to achieve the most accurate performance indication, these benchmarks should be analyzed together. In April 2014, the highest occupancy rate in the world was seen in the Asia Pacific region at 68.8 percent. In the same month, both the highest ADR and the highest RevPAR were seen in the Middle East and Africa.
The Lexicorp Hotel & Travel Investment Conference will provide a platform for leaders in the industry to discuss and debate the most pressing issues to date.