Bed & Breakfast Inns Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 10/25/2021
SIC Codes: 7011
NAICS Codes: 721191
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Bed & Breakfast Inns Industry Profile

Companies in this industry provide short-term lodging in private homes or small buildings converted to hotels; full breakfast is included in the room rate. No major companies operate in the industry.

The global hotel industry continues to grow with over 700,000 hotels around the world, according to Condor Ferries. Travelers spend about $850 billion a year on hotel stays. However, the industry is forecast to end 2021 down about $60 billion in business travel revenue compared to 2019 due to the ongoing pandemic, according to the American Hotel & Lodging Association (AHLA). Increasing travel to emerging nations in the Asia/Pacific region and Latin America is driving global growth. Europe is the world's top market for international tourism spending, followed by Asia/Pacific, the Americas, and the Middle East.

The US bed and breakfast (B&B) industry includes about 3,000 establishments with a combined annual revenue of about $1 billion.

COMPETITIVE LANDSCAPE

Demand is driven by personal disposable income. The profitability of individual establishments depends on occupancy rate and operational efficiency. Larger B&Bs may have advantages in providing a range of offerings and prices to suit a variety of traveler budgets. Small establishments can compete effectively by offering superior customer service to target markets. The industry in the US is highly fragmented: the 50 largest companies account for about 15% of revenue.

B&Bs compete for overnight accommodations with other hospitality establishments such as hotels, ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Bed & Breakfast Inns that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options