[Ranking] TOP 25 Hospitality Companies Q3/2023
Intro
The hospitality industry plays a critical role in the worldwide economy, spanning a range of businesses including hotels, restaurants, resorts, and travel services. It is an industry that is deeply intertwined with the tourism sector and has a profound influence on the global economy.
With its wide reach and diverse offerings, the hospitality industry has ripple effects across various sectors. It not only fuels the growth of related industries such as transportation and entertainment but also stimulates local economies by creating jobs and attracting tourists.
In recent years, the hospitality industry has experienced significant growth and shows no signs of slowing down. The rise of international travel, an increasing middle class, and the popularity of online booking platforms have all contributed to the economic magnitude and upward trajectory of the industry.
As the industry continues to evolve, it faces several trends, breakthroughs, and obstacles. The emergence of new technologies, the growing demand for sustainable practices, and the challenges posed by the COVID-19 pandemic are all shaping the future of the hospitality industry.
The landscape of the hospitality industry is ever-changing, with new trends and consumer preferences constantly reshaping the market. From the rise of boutique hotels and experiential travel to the growing demand for personalized services, the industry is constantly adapting to meet the needs of the modern traveler. In this dynamic and competitive environment, it is crucial to explore the leading companies that are driving innovation and setting new standards in the hospitality industry.
Ranking
#25 Banyan Tree Holdings Limited
Employees: 5K
Revenue: 500M$
Website: https://www.banyantree.com/
Description: Banyan Tree Holdings Limited is a Singapore-based hospitality company that operates in the luxury hotel and resort industry. Headquartered in Singapore, the company was founded in 1994. With a team of approximately 5,000 employees, Banyan Tree Holdings is known for its commitment to sustainability and its unique approach to hospitality. The company's portfolio includes upscale hotels, resorts, and spas located in various destinations around the world. Banyan Tree Holdings is renowned for its signature Banyan Tree brand, offering guests a luxurious and immersive experience that reflects the local culture and environment. With an annual revenue of approximately 500 million dollars, Banyan Tree Holdings continues to expand its presence in the global hospitality market, providing exceptional service and unforgettable experiences to discerning travelers.
#24 Red Lion Hotels Corporation
Employees: 2.5K
Revenue: 750M$
Website: https://www.redlion.com
Description: Red Lion Hotels Corporation is a leading hospitality company headquartered in Denver, United States. With a rich history dating back to 1959, the company operates in the hospitality industry, offering a range of hotel services and accommodations. Red Lion Hotels Corporation has established a strong presence in North America, with numerous hotels across the continent. The company is committed to providing exceptional guest experiences and offers a diverse portfolio of brands to cater to different traveler preferences. With a team of approximately 2.5 thousand employees, Red Lion Hotels Corporation generates an estimated revenue of 750 million dollars annually. With its dedication to customer satisfaction and quality service, the company continues to thrive in the competitive hospitality industry.
#23 InTown Suites
Employees: 1.2K
Revenue: 800M$
Website: https://www.intownsuites.com
Description: InTown Suites is a prominent player in the hospitality industry, with its headquarters located in Atlanta, United States. Since its establishment in 1988, the company has been providing affordable extended stay accommodations to travelers and individuals in need of temporary housing solutions. With a dedicated workforce of approximately 1.2 thousand employees, InTown Suites ensures excellent customer service and efficient operations across its numerous locations. The company has achieved substantial revenue growth, generating an estimated 800 million dollars in annual revenue. InTown Suites' commitment to delivering comfortable and convenient accommodations at competitive prices has made it a trusted choice for extended stay travelers in North America.
#22 Choice Hotels International
Employees: 5.5K
Revenue: 1.1B$
Website: https://www.choicehotels.com/
Description: Choice Hotels International is a leading hospitality company headquartered in Rockville, United States. With a history dating back to 1939, the company has established itself as a prominent player in the industry. Choice Hotels operates a wide range of hotel brands, offering diverse options to travelers across North America and around the world. Their portfolio includes well-known brands such as Comfort Inn, Quality Inn, Sleep Inn, and Clarion. With a strong focus on customer satisfaction, Choice Hotels strives to provide comfortable and affordable accommodations for both business and leisure travelers. With over 5.5K employees, the company generates an impressive annual revenue of 1.1B$, making it a key player in the hospitality sector.
#21 Loews Hotels & Co
Employees: 10K
Revenue: 1.2B$
Website: https://www.loewshotels.com/
Description: Loews Hotels & Co is a prominent player in the hospitality industry, with its headquarters located in New York City, United States. Since its establishment in 1946, the company has been dedicated to providing exceptional hotel experiences to its guests. With a workforce of approximately 10,000 employees, Loews Hotels & Co operates numerous luxury hotels and resorts across North America. They have built a reputation for their commitment to customer satisfaction and their ability to create memorable experiences. With an annual revenue of 1.2 billion dollars, Loews Hotels & Co continues to be an industry leader, offering top-notch services and amenities to travelers worldwide.
#20 Dorchester Collection
Employees: 5K
Revenue: 1.2B$
Website: https://www.dorchestercollection.com/
Description: Dorchester Collection is a renowned luxury hospitality company based in London, United Kingdom. With a rich history dating back to 1981, the company operates some of the finest hotels in Europe and the United States. Known for their impeccable service and elegant accommodations, Dorchester Collection offers a portfolio of iconic properties that cater to discerning travelers. From The Dorchester in London to Hotel Plaza Athénée in Paris, their hotels have become synonymous with luxury and sophistication. With a workforce of approximately 5,000 dedicated employees, the company generates an impressive annual revenue of 1.2 billion dollars.
#19 Extended Stay Deluxe
Employees: 8.5K
Revenue: 1.2B$
Website: https://www.extendedstayamerica.com/
Description: Extended Stay Deluxe, headquartered in Charlotte, United States, is a prominent player in the hospitality industry. Since its founding in 1995, the company has been dedicated to providing comfortable and convenient extended stay accommodations for travelers. With a workforce of approximately 8,500 employees, Extended Stay Deluxe offers exceptional service and amenities to meet the needs of both business and leisure travelers. The company's revenue stands at an impressive 1.2 billion dollars, reflecting its success in the competitive market. Extended Stay Deluxe continues to establish itself as a reliable and trusted choice for travelers seeking extended stay accommodations in North America.
#18 G6 Hospitality
Employees: 7.5K
Revenue: 1.2B$
Website: https://www.g6hospitality.com
Description: G6 Hospitality, headquartered in Carrollton, United States, is a prominent player in the Hospitality industry. Established in 1985, the company has grown to employ approximately 7,500 individuals. With a revenue of 1.2 billion dollars, G6 Hospitality has achieved significant success in the industry. The company operates various hospitality brands, including Motel 6 and Studio 6, providing affordable accommodations to travelers across North America. G6 Hospitality focuses on offering clean, comfortable, and convenient lodging options, ensuring a pleasant experience for their guests. Through their extensive network of properties, G6 Hospitality continues to serve as a leading provider of budget-friendly hospitality services in the region.
#17 Extended Stay America
Employees: 8K
Revenue: 1.2B$
Website: https://www.extendedstayamerica.com/
Description: Extended Stay America is a leading hospitality company based in Charlotte, United States. Established in 1995, the company offers extended stay accommodations to business and leisure travelers. With a workforce of approximately 8,000 employees, Extended Stay America operates numerous hotels across North America, providing comfortable and convenient lodging options for guests who require longer stays. The company's revenue stands at 1.2 billion dollars, reflecting its strong position in the hospitality industry. Extended Stay America focuses on delivering exceptional customer service, well-appointed rooms, and a range of amenities to ensure a pleasant and enjoyable stay for their guests.
#16 OYO Rooms
Employees: 17K
Revenue: 1.8B$
Website: https://www.oyorooms.com/
Description: OYO Rooms is a leading hospitality company based in Gurugram, India. Founded in 2013, OYO Rooms operates in the hospitality industry, offering affordable and standardized accommodations to travelers. With a presence in several countries, OYO Rooms has revolutionized the budget hotel sector by providing comfortable and convenient stays at competitive prices. The company leverages technology to streamline bookings and ensure a seamless experience for its customers. With a workforce of approximately 17,000 employees, OYO Rooms has grown rapidly since its inception. In 2020, the company reported a revenue of 1.8 billion dollars, solidifying its position as a major player in the hospitality industry.
#15 Wyndham Hotels & Resorts
Employees: 9K
Revenue: 2.1B$
Website: https://www.wyndhamhotels.com/
Description: Wyndham Hotels & Resorts is a leading player in the hospitality industry, headquartered in Parsippany, United States. With a rich history dating back to 1981, the company operates a diverse portfolio of hotels and resorts across North America. Wyndham Hotels & Resorts is known for providing exceptional experiences to travelers, offering a wide range of accommodations to suit every budget and preference. The company prides itself on its commitment to quality and guest satisfaction. With approximately 9,000 employees, Wyndham Hotels & Resorts continues to grow and innovate in the competitive hospitality market. In 2019, the company reported a revenue of 2.1 billion dollars, solidifying its position as a major player in the industry.
#14 NH Hotel Group
Employees: 20K
Revenue: 2.5B$
Website: https://www.nh-hotels.com/
Description: NH Hotel Group, headquartered in Madrid, Spain, is a leading player in the hospitality industry in Europe. With a history dating back to 1978, the company operates numerous hotels and resorts across the continent. NH Hotel Group is known for its exceptional service, modern amenities, and stylish accommodations. The company caters to both leisure and business travelers, offering a wide range of facilities such as conference rooms, fitness centers, restaurants, and bars. With a workforce of approximately 20,000 employees, NH Hotel Group strives to provide a memorable experience for its guests, ensuring their comfort and satisfaction. The company's annual revenue stands at an impressive 2.5 billion US dollars, solidifying its position as a major player in the European hospitality market.
#13 Marriott Vacations Worldwide
Employees: 12K
Revenue: 2.5B$
Website: https://www.marriottvacationsworldwide.com/
Description: Marriott Vacations Worldwide is a leading company in the hospitality industry, operating primarily in North America. With its headquarters located in Orlando, United States, the company offers a wide range of vacation ownership, exchange, rental, and resort management services. Founded in 1984, Marriott Vacations Worldwide has grown to become a prominent player in the industry, providing exceptional vacation experiences to millions of customers. With a workforce of approximately 12,000 employees, the company is dedicated to delivering outstanding hospitality services and ensuring customer satisfaction. Marriott Vacations Worldwide generates an annual revenue of around 2.5 billion U.S. dollars, demonstrating its strong presence and success in the market.
#12 Oberoi Hotels & Resorts
Employees: 15K
Revenue: 2.5B$
Website: https://www.oberoihotels.com/
Description: Oberoi Hotels & Resorts is a prominent player in the hospitality industry, with its headquarters located in Delhi, India. Established in 1934, the company has a rich history and is known for providing exceptional luxury accommodations and services. With a workforce of approximately 15,000 employees, Oberoi Hotels & Resorts is committed to delivering world-class hospitality experiences to its guests. The company has achieved significant success, generating an impressive revenue of 2.5 billion dollars. Offering a range of premium hotels and resorts, Oberoi Hotels & Resorts continues to be a preferred choice for discerning travelers seeking unparalleled luxury and hospitality in the Asian market.
#11 InterContinental Hotels Group
Employees: 4.8K
Revenue: 2.6B$
Website: https://www.ihg.com/
Description: InterContinental Hotels Group (IHG) is a leading hospitality company headquartered in Denham, United Kingdom. With a history dating back to 2003, IHG operates in the hospitality industry and is known for its portfolio of well-known hotel brands. The company manages a diverse range of hotels and resorts, catering to both business and leisure travelers. IHG's portfolio includes iconic brands such as InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn, and Kimpton Hotels & Restaurants. With a workforce of approximately 4.8K employees, IHG is committed to delivering exceptional guest experiences and providing quality accommodations across the globe. In 2019, the company reported revenue of 2.6 billion US dollars, solidifying its position as a key player in the hospitality industry.
#10 Meliá Hotels International
Employees: 45K
Revenue: 2.7B$
Website: https://www.melia.com/
Description: Meliá Hotels International, headquartered in Palma de Mallorca, Spain, is a leading hospitality company in Europe. Founded in 1956, the company has a workforce of approximately 45,000 employees. With a revenue of 2.7 billion dollars, Meliá Hotels International operates a portfolio of upscale and luxury hotels across the globe. The company is known for its exceptional customer service, innovative design, and commitment to sustainability. Meliá Hotels International offers a wide range of accommodation options, including city hotels, beach resorts, and golf resorts. With its strong presence in major tourist destinations, the company continues to expand its global footprint and deliver memorable experiences to its guests.
#9 Minor International
Employees: 60K
Revenue: 3.5B$
Website: https://www.minor.com
Description: Minor International, headquartered in Bangkok, Thailand, is a major player in the hospitality industry in Asia. Founded in 1978, the company has grown to employ approximately 60,000 individuals across its various business units. With a revenue of 3.5 billion USD, Minor International operates a diverse portfolio of hotels, resorts, and serviced residences in key destinations across Asia. The company's commitment to exceptional guest experiences and sustainable practices has earned it a strong reputation in the industry. Through its brands such as Anantara, Avani, and Oaks, Minor International continues to expand its presence and offer world-class hospitality services to travelers around the world.
#8 Radisson Hospitality AB
Employees: 38K
Revenue: 3.5B$
Website: https://www.radissonhotels.com/
Description: Radisson Hospitality AB, headquartered in Brussels, Belgium, is a prominent player in the hospitality industry. With a history dating back to 1960, the company has established itself as a leading provider of hotel accommodations and services. Operating primarily in Europe, Radisson Hospitality AB offers a wide range of hotel brands that cater to various segments of travelers. Their portfolio includes luxury hotels, upscale resorts, mid-scale hotels, and budget-friendly options. With a workforce of approximately 38,000 employees, the company is committed to delivering exceptional guest experiences across its numerous properties. Radisson Hospitality AB has achieved significant revenue growth, reporting an annual revenue of 3.5 billion dollars. Through their dedication to quality, innovation, and customer satisfaction, Radisson Hospitality AB continues to be a key player in the global hospitality market.
#7 Shangri-La Asia Limited
Employees: 40K
Revenue: 4.5B$
Website: https://www.shangri-la.com/
Description: Shangri-La Asia Limited is a leading hospitality company headquartered in Hong Kong, China. With its origins dating back to 1971, the company operates a prestigious portfolio of luxury hotels and resorts across Asia. Shangri-La Asia is renowned for its exceptional service, world-class facilities, and breathtaking locations. With a workforce of approximately 40,000 employees, the company is committed to providing memorable experiences for its guests, ensuring utmost comfort and satisfaction. Shangri-La Asia has established itself as a prominent player in the hospitality industry, offering unparalleled hospitality and personalized services that cater to the needs of discerning travelers. With a revenue of 4.5 billion dollars, the company continues to expand its presence and maintain its reputation as a top choice for luxury accommodation in Asia.
#6 Hyatt Hotels Corporation
Employees: 55K
Revenue: 5.0B$
Website: https://www.hyatt.com
Description: Hyatt Hotels Corporation is a renowned hospitality company based in Chicago, United States. With its headquarters in North America, Hyatt operates a global network of hotels and resorts, providing exceptional service and experiences to guests worldwide. Established in 1957, the company has a rich history in the industry. Hyatt Hotels Corporation employs approximately 55,000 dedicated professionals who are committed to delivering top-notch hospitality to customers. The company generates an impressive annual revenue of 5.0 billion dollars, solidifying its position as a leading player in the hospitality industry.
#5 Huazhu Group Limited
Employees: 350K
Revenue: 5.2B$
Website: https://www.huazhu.com
Description: Huazhu Group Limited, headquartered in Shanghai, China, is a leading hospitality company operating in the Asia-Pacific region. Established in 2005, the company has grown to become one of the largest hotel groups in China. With a workforce of approximately 350,000 employees, Huazhu Group operates a diverse portfolio of hotel brands catering to various customer segments. The company's revenue stands at an impressive 5.2 billion US dollars, reflecting its strong performance and market position. Huazhu Group is committed to delivering high-quality and personalized hospitality experiences to its guests, leveraging its extensive network of hotels and resorts across the region.
#4 Hilton Worldwide Holdings
Employees: 169K
Revenue: 9.1B$
Website: https://www.hilton.com
Description: Hilton Worldwide Holdings, headquartered in McLean, United States, is a leading hospitality company operating in the hospitality industry. With a history dating back to 1919, Hilton is renowned for its portfolio of renowned hotel brands that cater to various customer segments. The company's diverse range of offerings includes luxury and full-service hotels, resorts, extended-stay accommodations, and focused-service hotels. Hilton's global presence spans across continents, with a strong presence in North America, Europe, Asia, and other regions. The company prides itself on providing exceptional guest experiences, offering world-class amenities, and delivering personalized services. With a workforce of approximately 169,000 employees, Hilton remains committed to providing employment opportunities and fostering a positive work environment. In 2020, the company generated revenue of 9.1 billion US dollars, solidifying its position as a leader in the hospitality industry.
#3 Jin Jiang International
Employees: 200K
Revenue: 10B$
Website: https://www.jinjianghotels.com/
Description: Jin Jiang International is a prominent player in the hospitality industry. With its headquarters located in Shanghai, China, the company has established itself as a leading hotel group in Asia. Since its founding in 2000, Jin Jiang International has experienced significant growth and currently employs approximately 200,000 people. The company's diverse portfolio includes various hotel brands, ranging from luxury to budget accommodations, catering to the needs of different types of travelers. With a strong focus on customer satisfaction, Jin Jiang International has achieved remarkable success and has become a trusted name in the hospitality sector. With an annual revenue of 10 billion dollars, the company continues to expand its presence both domestically and internationally, contributing to the growth and development of the global hospitality industry.
#2 Marriott International
Employees: 180K
Revenue: 22B$
Website: https://www.marriott.com
Description: Marriott International is a leading hospitality company operating in the hotel industry. With its headquarters located in Bethesda, United States, Marriott has established a strong presence in North America. The company was founded in 1927 and has since grown to become a global leader in the hospitality sector. Marriott employs approximately 180,000 employees worldwide, making it one of the largest employers in the industry. With annual revenue of 22 billion dollars, Marriott continues to innovate and provide exceptional experiences for its guests through its extensive portfolio of hotels and resorts across the globe.
#1 Accor
Employees: 280K
Revenue: 25B$
Website: https://www.accor.com/
Description: Accor, headquartered in Paris, France, is a leading hospitality company operating in the global hotel industry. With a history dating back to 1967, Accor has grown to become one of the largest hotel operators in the world. The company operates a wide range of hotel brands across various segments, including luxury, premium, midscale, and economy. Accor's portfolio includes well-known brands such as Sofitel, Novotel, Mercure, ibis, and many others. With a strong presence in Europe and a global reach, Accor caters to both business and leisure travelers, offering a diverse range of accommodations and services. The company's commitment to customer satisfaction and innovative hospitality solutions has contributed to its success and position as a key player in the industry. With over 280,000 employees, Accor continues to strive for excellence and expand its presence in the ever-evolving hospitality market. With an annual revenue of 25 billion dollars, Accor demonstrates its financial strength and stability in the industry.
Summary
The top companies in the hospitality sub-industry have been analyzed and ranked based on various factors such as revenue, market share, and customer satisfaction. These companies have consistently displayed significant accomplishments in their respective fields, solidifying their positions as industry leaders.
One unexpected finding is the increasing importance of technology in the hospitality industry. Companies that have successfully integrated technology into their operations have seen significant growth and have been able to provide a seamless and personalized customer experience.
Among the premier companies in the hospitality sub-industry are major hotel chains, luxury resorts, and online travel agencies. These companies have established themselves as trusted brands and have a strong presence both domestically and internationally.
One of the shared elements driving the prosperity of these leading firms is their focus on customer satisfaction. These companies prioritize delivering exceptional service and strive to exceed customer expectations. Additionally, they invest in employee training and development to ensure their staff is equipped to provide the highest level of service.
What sets these eminent companies apart from their industry rivals is their ability to innovate and adapt to changing consumer preferences. They continuously invest in research and development to stay ahead of the curve and offer unique experiences to their customers. Furthermore, these companies have strong brand identities and have successfully built a loyal customer base.