Travel, Airline, Hotel & Tourism Industry Market Research

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Airlines, Hotels & Travel OVERVIEW

The global travel and tourism industry is comprised of a wide variety of businesses, including hotels and inns, casino resorts, trains, buses, airplanes, cruise ships, tour operators and travel bookers, both online and physical.  The World Travel & Tourism Council (WTTC) found that the global travel and tourism industry supported 330 million jobs on a direct basis during 2024.
This sector is always continually reinventing itself—with dramatic changes often being caused by disruptive technologies, evolving consumer tastes, political upheavals, economic booms and busts, and lately, global outbreaks of disease.  Fortunes can be made and lost quickly, particularly in the always-changing, extremely competitive airline industry.
Disruptive technologies wresting change within the industry sometimes come in the form of new aircraft.  The launch of the 707-jet airliner (1958), soaring across the Atlantic in only a few hours, put an end to the ocean liner’s domination of the transcontinental market.  Likewise, the launch of the 747 jumbojet (1970), able to carry hundreds of passengers with great new operating efficiency, popularized international travel to a degree never before imagined possible.  The 1967 launch of the single-aisle 737, able to carry about 185 passengers quickly and efficiently, teed-up the next round of airline innovation.  Shortly thereafter (1971), a plucky entrepreneur took advantage of the tremendous abilities of the 737 when he launched the first noteworthy discount airline (Southwest), with flights between Dallas and Houston, Texas at low fares.  An vast discount airline industry soon blossomed worldwide.
The internet was the next big technological leap forward, enabling dozens of disruptive new online travel agencies and booking services to soar (e.g., online travel booking site Travelocity.com was launched in 1996).  Consumers were immense beneficiaries, while traditional walk-in travel agencies suffered immensely, as travelers could go online to compare flights, hotels and prices, and then book at the best prices whenever they were ready to get out their credit cards and commit.  The internet also enabled the highly disruptive technology platforms of Airbnb and Vrbo, making it possible for tourists and business travelers to rent homes and condos as alternatives to hotels.
However, technologies can also dampen the travel sector.  Recently, the growing capabilities of teleconferencing on systems such as Zoom, Webex and Teams has made business travel less vital.  Travel to conferences, conventions, sales pitches and meetings is both expensive and time-consuming, and budgets for such travel are often carefully scrutinized by corporate management.  Nonetheless, airlines and hotels reported solid growth in business travelers in 2024.  United Airlines and Delta Airlines both saw a 14% increase in revenue from corporate accounts in the first quarter of 2024 compared to the same period in 2023, while Southwest Airlines reported a spike of 25%.  Clearly, business travel remains a vital segment of the industry.
A rising, global middle class further boosted the industry.  Discount airlines leapt ahead in markets as diverse as India, Indonesia, Africa and Eastern Europe, enabling cost-conscious tourists to help the tourism industry boom.  For example, Chinese travelers take hundreds of millions of flights yearly—as long as pandemics do not interrupt their plans.  
Meanwhile, a soaring number of highly affluent travelers have been spending money freely on a growing variety of luxury hotels, resorts and experiences.  The luxury sector has been booming, from private aircraft rentals (such as NetJets) to ultra-luxury hotel and resort chains (such as Ritz Carlton’s “Reserve” properties), to luxury cruise lines such as Viking and Regent, and more recently the ultra-luxury ships such as those launched by Ritz Carlton.
The cruise line business has enjoyed stellar, long—term growth.  Many cost-conscious consumers see cruises as high-value, all-inclusive package deals. Others see them as a perfect way to socialize and tour multiple destinations without the need to pack up and move from hotel to hotel. Some of the newest ships, such as Royal Caribbean’s Icon of the Seas rank among the largest passenger ships ever built. 
There is every reason to believe that the travel and tourism industry will continue to be a bubbling cauldron of change.  For example, the airline industry continues to evolve rapidly.  Airlines are flying aircraft that are much more fuel-efficient than those of a few years ago.  It is also vital to note a major shift in airline strategy:  today, airlines rely heavily on fees for services such as checked baggage, seats with extra legroom and on-board food.  This contributed substantially to profitability.  Boeing’s highly advanced 787 enables airlines to offer great enhancements to passenger comfort with extremely long intercontinental range, while the airlines benefit from a fuel efficiency boost of about 20%.  Airbus competes with similarly efficient, long-haul aircraft.  Discount airlines remain very important players in the U.S. as well as the rest of the world.  However, legacy airlines (e.g., American Airlines and British Airways) are now competing head-to-head on price with discount airlines in many cases, typically for the least-desirable seats in economy class.

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PLUNKETT PROVIDES UNIQUE ANALYSIS OF THE FOLLOWING TRENDS THAT ARE DRIVING THIS INDUSTRY:

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A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Airline, Hotel & Travel Industry. Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

  • Business trends analysis
  • In-depth industry overview
  • Technology trends analysis
  • Forecasts
  • Spending, investment, and consumption discussions
  • In-depth industry statistics and metrics
  • Industry employment numbers

Additional Key Features Include:

Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

  • U.S. and Global Firms
  • Publicly held, Private and Subsidiaries
  • Executive Contacts
  • Revenues

  • For Public Companies: Detailed Financial Summaries

  • Statistical Tables

Key Questions Answered Include:

  • How is the industry evolving?
  • How is the industry being shaped by new technologies?
  • How is demand growing in emerging markets and mature economies?
  • What is the size of the market now and in the future?
  • What are the financial results of the leading companies?
  • What are the names and titles of top executives?
  • What are the top companies and what are their revenues?

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Airline, Hotel & Travel Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Airline, Hotel & Travel Industry

  1. Introduction to the Travel Industry

  2. Discount Airlines Compete with Legacy Airlines, but the Differences Are Beginning to Blur

  3. Major Airlines Change Strategy, Charge Fees

  4. Some International Airlines Cut First-Class Seats and Add to Business Class/Premium Economy Now Widely Available

  5. Private Jet Sharing and Rentals Are Big Business/Semi-Private Airlines Compete

  6. Boeing and Airbus Compete for New Orders

  7. New Aircraft Designs Offer Greater Passenger Comfort/More Efficient Engines

  8. Supersonic Jets Fly Again

  9. Hydrogen and Electric Powered Airplanes Are Under Research and Development

  10. Airports Expand

  11. China Makes Immense Investments in Railroads, Highways, Airports & Silk Road

  12. Online Travel Agencies (OTAs)/Hotels Fight to Keep Control of the Customer

  13. Ecotourism, Sustainable Tourism, Adventure Tourism and Volunteerism Gained Popularity as Certification Standards Are Set

  14. Luxury Hotel Chains Expanded Globally

  15. What Millennials and Mobile-Savvy Consumers Want as Tourists and Travelers

  16. Hotels Target Young Customers with Strategies Ranging from Micro Rooms and Hostels, to Hip Hotels that Encourage Mingling to Fitness Options

  17. Localization Will Drive Hotel Features, Marketing

  18. Dog-Friendly Hotels Will Gain Market Share

  19. Sharing Economy Gains Market Share in Travel with Online Sites Like Airbnb, Vrbo and Many Global Competitors

  20. Cruise Industry Enjoys High Occupancy and Launches New Ships

  21. Small Cruise Ships Feature Adventure, Luxury, Intimacy or Access to More Places

  22. River Cruise Lines Reap the Benefits of Low Capital Investment and High Fares

  23. Chinese Tourists Create Growth Opportunities for the Cruise and Hotel Industries

  24. New Technologies Show Promise for Port and Airport Security

  25. High Speed Passenger Trains, Including Maglev, Advance in China and Europe

  26. U.S. Passenger Train Projects Receive Funding, Including Light Rail and All Aboard Florida

  27. Aging Baby Boomers Will Cause Significant Changes in the Leisure Sector, Including Sports and Activity-Based Travel

  28. The Future of Travel

Plunkett Research Provides In-Depth Tables for the Following Airline, Hotel & Travel Industry Statistics

  1. Airline, Hotel & Travel Industry Statistics and Market Size Overview

  2. Air Carrier Traffic Statistics, U.S.: 2000 - April 2024

  3. Consolidation in U.S. Airlines

  4. U.S. Airline Passenger Activity: 2010-2044

  5. Top Regions of U.S. Residents Traveling Abroad (Outbound): 2022-2023

  6. Top 10 U.S. Airlines & Airports Ranked by 2024 System Scheduled Enplanements

  7. Cruise Line Industry Overview, U.S.: 2016-2023

  8. Estimated U.S. Hotel & Accommodations Sector Quarterly Revenues: 2021-4th Quarter 2023

  9. Employment in the Airline, Hotel & Travel Industry, U.S.: 2018 - April 2024

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This industry onlyPublication date: Sep 2024
ISBN-13: 978-1-64788-542-7
ISBN-13: 978-1-64788-050-7
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