The U.S. hotel and lodging sector marked 2023 with record-breaking revenue, buoyed by high demand and surging average daily rates. The industry, adapting to post-pandemic norms, anticipates moderated growth in 2024, against a backdrop of a challenging economy and changing consumer preferences. These challenges will push innovations and strategic operational changes for the sector.

Analyst: Lorraine SileoTopic: Market Overview & SizingSegments: Hotels & Lodging, Short-Term RentalRegion: U.S. & CanadaResearch Type: Report

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Following the robust 2022 recovery, the U.S. travel market is still re-establishing travel normality, and therefore some fluctuation is ongoing. Featuring healthy 13% year-over-year growth in 2023, the market finally surpassed pre-pandemic levels. Gross bookings will continue to climb moderately throughout the forecast period, reflecting the anticipated normalization. 

Analysts: Lorraine Sileo, Charuta Fadnis, Marilyn Macallair, Coney Dongre, Michael ColettaTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Cruise, Hotels & Lodging, Online Travel Agencies, Rail, Tours & Packages, Traditional Agencies & TMCsRegion: U.S. & CanadaResearch Type: Report

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Demand remains high for the U.S. airline industry, as passenger numbers surpass pre-pandemic levels in 2023, and airline gross bookings continued their double-digit ascent for the third consecutive year. Direct distribution channels dominate airline sales, as suppliers embrace technological developments that directly impact customer behavior. While the industry navigates new challenges and the lingering effects of disruptions on the price, sustainability and safety fronts, growth will also moderate as the market restabilizes.

Analyst: Lorraine SileoTopic: Market Overview & SizingSegment: AirRegion: U.S. & CanadaResearch Type: Report

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In 2023, the Scandinavian travel industry exhibited recovery with overall gross bookings growing by 16% year over year, highlighting travelers' renewed enthusiasm and a rebound in air capacity. The industry is poised to outpace pre-pandemic revenue levels in 2024, with online transactions leading the charge. As in much of Western Europe, economic conditions and sustainability considerations will also play a role in shaping the Scandinavian travel market in the medium term.

Analysts: Ralph Merten, Cathy WalshTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Rail, Short-Term RentalRegion: EuropeResearch Type: Report

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France's travel sector witnessed solid growth in 2023, climbing by 12% to over €55 billion, predominantly driven by the resurgence of international travel alongside strong domestic demand. The 2024 Paris Olympics will temporarily amplify gross bookings on all fronts, particularly for air and hotel. Looking ahead to 2027, the travel market is anticipated to stabilize, featuring moderate growth through the remainder of the forecast period.

Analysts: Peter O'Connor, Cathy WalshTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Rail, Short-Term RentalRegion: EuropeResearch Type: Report

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In 2023, the U.K. travel market experienced significant growth, with gross bookings increasing 19%, driven by robust expansion in online bookings, mobile transactions, and key sectors like airlines and car rentals. Though challenges like inflation are affecting various segments, the industry is on a positive trajectory, with projections indicating continued growth and technological advancements shaping the future of travel in the U.K. through 2027.

Analysts: Dirk Rogl, Cathy WalshTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Rail, Tours & PackagesRegion: EuropeResearch Type: Report

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Travel demand remained strong as ever for the European market in 2023. Achieving an impressive 20% year-over-year growth, the market surpassed 2019 gross bookings. However, persistent inflation and economic uncertainties present continuous challenges, influencing future growth. Meanwhile, adoption of technological innovations and sustainability measures is accelerating, affecting European travel landscape in the years ahead. This report series features six key markets comprise the Europe travel market: France, Germany, Italy, Scandinavia, Spain and the U.K. Collectively, the series provides comprehensive market sizing and projections for the European travel industry from 2019-2026.

Analysts: Ralph Merten, Cathy Walsh, Dirk Rogl, Fabian Gonzalez, Karen Burka, Peter O'Connor, Stanislas FeminierTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Rail, Tours & PackagesRegion: EuropeResearch Type: Report

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This data sheet provides comprehensive market sizing and projections for the Asia Pacific travel industry from 2019-2026, including analysis of key segments, country-level share and trends, distribution dynamics and more.

Analyst: Coney DongreTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel AgenciesRegion: Asia PacificResearch Type: Market Data Sheet

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This report provides comprehensive market sizing and projections for the India travel industry from 2019-2026, including analysis of key segments, country-level share and trends, distribution dynamics and more.

Analyst: Coney DongreTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, RailRegion: Asia PacificResearch Type: Report

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Access Phocal Point to compare the most recent data on the global short-term rental market across major regions and channels. Data is presented in a visually interactive, customizable format, and can be exported on demand.

Analysts: Michael Coletta, Stan PawlowTopic: Market Overview & SizingSegments: Hotels & Lodging, Short-Term RentalRegions: Asia Pacific, Europe, Latin America, Middle East & Africa, U.S. & CanadaResearch Type: Interactive Charts

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