Thehospitality industry is a broadcategory of fields within theservice industry that includeslodging,food and beverage services,event planning,theme parks,travel agency,tourism,hotels,restaurants,nightclubs, andbars.
According to the Cambridge Business English Dictionary the "hospitality industry" consists of hotels and food service,[1] equivalent toNAICS code 72, "Accommodation and Food Service".
In 2020, theUnited States Department of LaborStandard Industrial Classification (SIC) defines the hospitality industry more broadly, including:[2]
In the United States, hotels are the most popular vacation accommodation. In 2022, the hotel and motel industry in the United States was a $224.9 billion market, measured by revenue.[4]
Horeca (alsoHoReCa,HORECA) is theDutch,Indonesian,German,Italian,Romanian,Portuguese andFrench term for the food service and hotel industries. The term is asyllabic abbreviation of the wordshotel/restaurant/café.[5][6] The term is mostly used in theBenelux countries,Indonesia, andSwitzerland.
"Horeca" is often not a one-to-one equivalent to the term "hospitality industry" used in English, which is often used more broadly. According to the Cambridge Business English Dictionary the "hospitality industry" consists of hotels and food service,[7] equivalent toNAICS code 72, "Accommodation and Food Service". However, theUnited States Department of Labor Standard Industry Classification (SIC) defines the hospitality industry more broadly, as noted above.
The DutchUniforme Voorwaarden Horeca (UVH) is translated into English as Uniform Conditions for the Hotel and Catering Industry. This code covers hotels, bars, restaurants and related businesses in the Netherlands.Koninklijke Horeca Nederland is the Dutch trade association for the hotel and catering industry.[8]
This sector is one of the fastest growing in Europe. In 2004, more than 7.8 million people were employed[9] and the sector generated more than $338 billion in turnover.[10] Jobs tend to be temporary, with irregular hours, low pay, and few career prospects. There is a high proportion of young people working in the sector. Some distribution companies use this term to define the food & beverage service trade channel or the hospitality trade.
The hotel industry inIndia is poised for continued strong growth, withCareEdge Ratings forecasting a 9-11% year-over-year increase in revenue for hotels in FY25. This comes after an estimated 12-14% growth inRevPAR (revenue per available room) in FY24, driven by robust demand outpacing supply.[11] Average room rates across India are projected to rise from around ₹7,200-7,400 in FY24 to ₹7,700-7,900 in FY25, with RevPAR climbing to an average of ₹4,800-5,000 by end-FY24. The recovery is fueled by healthy domestic leisure and business travel demand, complemented by increasing foreign tourist arrivals. While new supply is expected at a 4-5% CAGR over 4-5 years adding over 50,000 branded rooms, this delayed catch-up will allow demand-supply dynamics to gradually align. The CareEdge report notes a better balance emerging across segments like upscale, upper midscale and midscale/economy, reducing the earlier concentration in luxury/upper upscale. With high occupancies of 68-70% forecast for FY25, the strong RevPAR growth should aid in improving the credit profile of industry players.
In 2015 theUnited Kingdom hospitality industry employed around 2.9m people – around 9% of the UK workforce.[12] By employment, it is the UK's fourth-largest industry. The most jobs in the industry are found in London (around 500,000) andSouth East England (around 400,000); 18% of workers in the UK industry are in London. There are around 1.5m restaurant workers, and around 0.5m work in hotels. TheFood Safety Act 1990 introduced the training that staff have to follow. Around 25% of the hospitality workforce comes from the EU, making up around 25% of chefs and around 75% of waiting staff.[13][14] In 2019, 1 in 50 applicants toPret a Manger was British.
The hotel industry inVietnam is an important economic sector, contributing significantly to the country's GDP.[15][16][17] According to statistics from theVietnam National Administration of Tourism, in 2022, Vietnam had a total of 32,313 accommodation establishments[18][19] with 611,352 rooms, including 1,576 hotels with three stars or higher with 334,487 rooms.[20][21][22] Despite this, the Vietnamese hotel industry is still considered to have great potential for development in the future.[23][24] According to the forecast of theWorld Tourism Organization (UNWTO), Vietnam will be one of the top tourist destinations in the world in the coming years.[25][26][27] This will create opportunities for the development of the Vietnamese hotel industry.[28][29][30] According to statistics from theVietnam National Administration of Tourism, the Vietnamese hotel industry has had an average growth rate of 15% per year in the period 2010–2022.[31][32]
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