The analysts forecast the global hotel logistics market to grow at a CAGR of 3.02% during the period 2018-2022.
The report covers the present scenario and the growth prospects of the global hotel logistics market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of hotel logistics.
The hotel logistics market is fragmented due to the presence of several international and regional vendors. Hotel logistics providers compete intensely based on price, quality, regulatory compliance, and innovation.
Established vendors dominate the market operations in terms of features and price, with the regional vendors struggling to compete with them. To attain competitive advantage in the hospitality logistics market, the vendors offer innovative and technologically driven services and adopt new technologies to upgrade their service offerings.
The latest trend gaining momentum in the market is growth of the travel and tourism industry across the globe. The travel and tourism industry include transportation, accommodation, attractions, and entertainment boost the economy. In addition to developed countries, tourists are also preferring to travel to developing countries such as Indonesia, Malaysia, India, Brazil, Mexico, and the Philippines. Business travelers also boost the international tourism as events organized create demand for hotel logistics services in the hospitality logistics market.
One of the major drivers for this market is growing hotel industry worldwide and surging demand for professional hotel logistics services. Hotels across the globe are offering various facilities such as social function services, conference facilities, business centers, swimming pool, and childcare. The variety of amenities and services offered by hotels decides the rating given to these hotels. The hotel industry is exponentially growing in North America with US comprising of large number of budget hotels. Growing tourism is influencing the demand for hotel logistics providers to offer high-end logistics and supply-chain solutions with value-added services. Also, these providers offer one-stop solutions that solve the issues efficiently and quickly.
The Furniture, Fixtures and Equipment (FF&E) service type accounts for major shares in the hospitality logistics market due to the importance of contents such as movable furniture, fixtures, or other equipment in a hotel. Hotel logistics providers thoroughly undertake maintaining/replacing, installing, purchasing, and shipping of FF&E. Also, these providers offer reusable furnishing and develop FF&E cash flows.
Technology advances in transportation sector
Growing travel and tourism industry across the globe