Global Hotel Gift Cards Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hotel Gift Cards Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hotel gift card is a prepaid stored-value card. Gift card holders can use the gift card to replace cash when shopping in a specific store or related enterprise. Hotel gift cards can be redeemed for accommodation, merchandise, food and beverages, and other hotel services. Some Hotel Gift Cards can be used in multiple hotels, and some Hotel Gift Cards can be used in all hotels and resorts within a certain brand.

Market Overview:

The latest research study on the global Hotel Gift Cards market finds that the global Hotel Gift Cards market reached a value of USD 1283.25 million in 2022. It’s expected that the market will achieve USD 2054.55 million by 2028, exhibiting a CAGR of 8.16% during the forecast period.At present, there are many industry players in the global hotel gift card market, and a large number of small and medium-sized enterprises operate in the market. With the gradual control of the epidemic and the increase in the number of vaccinations, people's travel needs are also rising. At the same time, leading hotel chains are also investing in online platforms, while focusing on customer retention strategies, frequent product launches, various holiday packages and increasing customer base. It can be seen that during the forecast period, the hotel gift card industry will show a growth trend.

Increased demand for corporate hotel gift cards

For the hotel gift card industry, the corporate sector's demand for hotel gift cards continues to increase. In recent years, in order to commend employees for their contributions to the company, the company will give them gift cards. The need for companies to commend employees has promoted the cooperation between companies and various hotels. Therefore, various hotels and third parties provide hotel gift cards for enterprises. This has increased the sales of hotel gift cards. At present, the hotel gift card market in B2B sales channels is showing a growing trend. Therefore, the large use of hotel gift cards by the corporate sector is one of the main factors driving the growth of the global hotel gift card market.

Security challenge

At present, for the hotel gift card industry, its security challenges are affecting the development of the industry. For example, the risk of being invaded by hackers and thieves is high. In February 2017, Distil Networks detected a sophisticated gift card bot attack on its network—GiftGhostBot. GiftGhostBot has attacked nearly 1,000 websites, and GiftGhostBot's advanced persistent bot will automatically check millions of gift card numbers to determine which have balances. It has become an example of the threat of growth in the global gift card market. If these challenges can be resolved as soon as possible, in the near future, these challenges are bound to enhance consumer confidence.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (47.97% in 2021).

Company Overview

Marriott International is one of the major players operating in the Hotel Gift Cards market, holding a share of 10.62% in 2021.

Marriott International

Marriott Hotel Group is a multinational hotel management company. Marriott owns more than 7,000 hotels under 30 major brands. Marriott International is the world's largest travel company, providing guests with unparalleled choices and creating unparalleled value for owners. With Marriott International’s extensive brand portfolio, dynamic sales and marketing platform, and efficiency-enhancing global scale, Marriott International’s owners benefit from obvious competitive advantages and opportunities to maximize each hotel’s investment.

Expedia Group

With more than 70 TB of data and more than 20 years of technological innovation, Expedia Group is one of the largest travel platforms in the world. With unparalleled industry knowledge and advanced technological innovation, Expedia Group has established a two-way market, enabling Expedia Group to screen millions of different possibilities for global travelers and partners.

Segmentation Overview:

As for product types, the Closed Loop segment held the largest market share in 2021.

Open Loop

The open-loop card is a universal toll card that can be used anywhere that brand card is accepted. It usually bears the logo of the card brand or network (handling the actual transaction). For example, Visa, MasterCard, American Express, or Discover.

Closed Loop

A closed-loop card is an electronic payment card that the cardholder can only use to make purchases from one company. Closed-loop cards, also known as single-purpose cards. Closed-loop cards usually have the company's logo printed on them, indicating where the card can be used. It will not carry the logo of the main payment processor.

E-gifting

E-gifting mainly refers to a virtual hotel gift card purchased online. Consumers can buy it themselves or give it away to others.

Application Overview:

By application, the Accommodation segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hotel Gift Cards market covered in Chapter 3:

HyattIHG Hotels & ResortsBest WesternWyndham Hotels & ResortsExpedia GroupAccorHiltonRadisson Hotel GroupAirbnbFour Seasons Hotels and ResortsMarriott InternationalChoice Hotels International

In Chapter 4 and Chapter 14.2, on the basis of types, the Hotel Gift Cards market from 2018 to 2029 is primarily split into:

Open LoopClosed LoopE-gifting

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hotel Gift Cards market from 2018 to 2029 covers:

AccommodationDelicacySpa ServiceOthers

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)Latin America (Brazil, Mexico, Argentina)Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)