Except for the down year of Covid, the U.S. accommodation sector has been performing robustly with the short-term rental segment gaining market share. However, it is yet to be seen how the composition of the industry evolves.
Skift Research estimates that the total accommodation sector in the U.S. generated $319.9 billion revenue in 2021 and that will increase by 13% year-over-year in 2022. Among that, short-term rentals — short-term lodging in private homes or apartments — reached nearly $57.7 billion.
Skift Research published a series of travel sector estimates in 2019. Owing to the pandemic, 2020 and 2021 witnessed a plethora of changes in the industry with respect to demand and supply. With this report, we aim to continue our efforts in providing market sizes for the travel industry. We are starting by focusing on accommodations, one of the largest and most important travel sectors.
Market share in the short-term lodging sector increased from 10.5% in 2018 to 18% in 2021. However, we believe that the hotel sector will make a strong comeback in 2022, meaning we will see a much smaller growth in the share of the short-term rental sector.
Because of the pandemic, consumer preferences have been volatile the past few years. As the situation evolves, the composition of the industry with respect to how hotel and short-term rental sectors share the market will become more defined going forward.
We arrive at our proprietary estimates by analyzing relevant data aggregated in our previous reports, as well as many reputable sources, including the U.S. Economic Census, U.S. Census Service Annual Survey (SAS) and Quarterly Services Survey (QSS), and company filings.
What You’ll Learn From This Report
- U.S. accommodation sector market size estimates, 2018–2022
- U.S. market size estimates for hotels and short-term rentals, 2018–2022
- U.S. market size estimates for hotels and motels, casino hotels, B&B, and other traveler accommodation segments, 2018–2021
- Key hotel sector operational and performance estimates for 2021, including number of companies, properties, and corresponding revenue
- Analysis of the U.S. Economic Census data
U.S. Accommodation Sector Market Estimates 2022
We believe the hotel sector will make a strong comeback in 2022 relative to the short-term rental sector.
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