Accommodation - 2023 U.S. Market Research Report with Updated COVID-19 & Potential Recession Forecasts
The 78-page 2023 Accommodation Market Research Report is one of the most comprehensive and in-depth assessments of the industry in the United States with over 100+ data sets covering 2014-2027.
This Kentley Insights report is full of industry insights including historical and forecasted market size, revenue and industry breakdowns by product lines, size of company, concentration segmentation, business structure, customer type, state and MSA, profitability, financial ratios, balance sheet benchmarks, BCG matrix, extensive statistics by state and MSA, operating expense details, workforce composition, industry consolidation analysis, sector benchmarks, employee productivity, price inflation, pay bands for the top 20 industry jobs, trend analysis and forecasts on numerous industry statistics including companies, locations, employees, pay, and much more.
The ludes companies primarily engaged in providing short-term lodging for travelers, vacationers and others. In addition to lodging, a range of other services may be provided. For example, many companies have restaurants, while others have recreational facilities. Lodging companies are classified in this subsector even if the provision of complementary services generates more revenues. Companies that operate lodging facilities primarily designed to accommodate outdoor enthusiasts, are also included in this subsector. These companies are characterized by the type of accommodation and by the nature and the range of recreational facilities and activities provided to their clients. Companies that manage short stay accommodation companies, such as hotels and motels, on a contractual basis are classified in this subsector if they provide both management and operating staff. These companies are classified according to the type of facility they manage.
This report was developed utilizing the results from extensive business surveys and econometrics. Professionals utilize this report for market sizing, industry analysis, benchmarking, forecasting, strategic planning, market analysis, due diligence, valuation, sales & marketing strategy, operational streamlining, organizational strategy, evaluating opportunities, and many other analyses.
Review the 78-page table of contents or download a sample report to see the data-rich insights, which leaders have come to depend on for their research, strategic, and benchmarking needs.
Below are a few of the hundreds of stats from the report:
INDUSTRY SIZEIn 2022, industry sales were $306 billion
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INDUSTRY GROWTHOver the past 3 years, the industry has grown at an annual rate of 3.1%
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COMPANY GROWTHThere are 57,184 companies in the industry
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SALES PER COMPANYIn 2022, the average sales per company was $5.4 million
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INFLATION & PRICING2021 inflation was 6.7%
The report has historicals (2014-2022), 4 years of monthly figures, and 2023 & 5-year forecast
PROFITABILITYFor unprofitable companies, the average net loss is -11.8%
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RIGHTSIZING ANALYSISEmployee productivity is $143,348
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EXPENSE BENCHMARKING4% of expenses is spent on health insurance
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OPERATING EXPENSESIn 2022, industry operating expenses grew 23.4%
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PAYROLLIn 2022, payroll per employee was $33,207
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PAYROLL BY STATECalifornia averages $43,756 in payroll per employee
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JOB CATEGORIZATION BENCHMARKS4.5% of employees in the industry are in management positions
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JOB CATEGORIZATION PAY RANGESThe average industry hourly pay for office and administrative jobs is $15.75
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The above stats represent a small fraction of what you will find in this report.
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NAICS code:721