Restaurant, Hotel and Hospitality OVERVIEW
That is, they literally provide hospitality to their paying guests.
Consequently, we include restaurants of all types, as well as catering, cafeterias, coffee shops and bars or taverns.
(However, we do not include the prepared foods sections of supermarkets.) On the lodging side of hospitality, we include hotels, motels, inns, resorts and hostels.
In addition, we include cruise lines—a hospitality segment that is of growing importance to the global economy.
Of course, many lodging businesses, such as hotels and cruise lines, also include restaurants, and more than a few include casinos, retail shopping areas or resort amenities. Restaurants: The global restaurant industry generated approximately $1.2 trillion in 2020, with the fast food segment accounting for about 12% of that number.
In the U.S., the Census Bureau reports total food service and bars revenues at $621.5 billion for 2020.
America enjoyed more than 1 million restaurants of all types before the outbreak of the Coronavirus in 2020.
Estimates of the number of restaurants that closed permanently in the U.S.
due to the Coronavirus vary widely, but at least 110,000 were closed for a significant amount of time, despite an injection of financial support from the federal government. Hotels: The total number of
Industry Overview Video
WE PROFILE HUNDREDS OF TOP COMPANIES:
- Extended Stay America Inc
- Kerzner International Limited
- Millennium & Copthorne Hotels plc
- American Golf Corporation
- AmericanTours International LLC
- Aramark Corporation
- Autogrill SpA
- Barcelo Crestline Corporation
- Best Western International Inc
- Choice Hotels International Inc