South Korea Hotels and Motels Market Summary, Competitive Analysis and Forecast to 2026

South Korea Hotels and Motels Market Summary, Competitive Analysis and Forecast to 2026
Summary

Hotels & Motels in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2016-21, and forecast to 2026). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key HighlightsThe hotels & motels industry consists of establishments that provide paid lodging and full guest services, typically with a continuous staff presence. In the case of motels, this includes off-street parking facilities, but not necessarily meal services. The industry is detailed in both value and volume terms.The South Korean hotels & motels industry had total revenues of $3.2 billion in 2021, representing a negative compound annual rate of change (CARC) of 10.6% between 2016 and 2021.Industry consumption volume increased with a compound annual growth rate (CAGR) of 7% between 2016 and 2021, to reach a total of 2,126 establishments in 2021.Seoul, Busan, Seogwipo, Daegu, Jeju City and Gangneung are some of the popular tourist cities across South Korea. The country receives majority of the international tourists from China.ScopeSave time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the hotels & motels market in South KoreaUse the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the hotels & motels market in South KoreaLeading company profiles reveal details of key hotels & motels market players’ global operations and financial performanceAdd weight to presentations and pitches by understanding the future growth prospects of the South Korea hotels & motels market with five year forecasts by both value and volumeReasons to BuyWhat was the size of the South Korea hotels & motels market by value in 2021?What will be the size of the South Korea hotels & motels market in 2026?What factors are affecting the strength of competition in the South Korea hotels & motels market?How has the market performed over the last five years?Who are the top competitors in South Korea's hotels & motels market?