Hospitality in Malaysia Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hospitality in Malaysia Market Analysis
The hospitality industry in Malaysia is estimated at USD 4 billion in the current year and is poised to register a CAGR of greater than 6.5% during the forecast period.
Malaysia's hospitality industry is rapidly expanding, following the country's tourism industry. The tourism industry has undoubtedly been hit hard by the COVID-19 pandemic, with effects crippling travel and tour operators as well as hotels. According to the Malaysian Association of Hotels (MAH), approximately 120 hotels have closed either temporarily or permanently, and the industry has lost over RM6.5 billion in revenues for 2020, with another RM9 billion likely lost to date in 2021. According to data from the World Tourism Organization (UNWTO), the hotel workforce in Malaysia fell 10% to 208,500 people in 2020 from a pre-pandemic total of 233,800 people in 2019, while MAHO estimates that the hospitality sector lost about half of its overall workforce to other industries and self-employment during the pandemic.
The Government has outlined several strategies in the 12th Malaysia Plan to re-energize the tourism industry (12MP). Among them are restoring tourist confidence in traveling safely in a post-pandemic world, as well as providing higher-quality products and services such as ecotourism and community-based cultural immersion activities that vividly depict the Malaysian experience. All branding and promotion efforts will focus on safety and hygiene. The government has also launched the National Tourism Policy (NTP) 2020 - 2030, a ten-year transformation plan for the tourism industry. The NTP was designed to place Malaysia among the top ten tourist destinations in terms of both arrivals and receipts. Smart tourism is one of the key strategies for remaining competitive far into the future.
Hospitality in Malaysia Market Trends
This section covers the major market trends shaping the Malaysia Hospitality Market according to our research experts:
Smart Tourism in Malaysia to Offer Lucrative Growth Prospects
While the tourism industry has suffered as a result of the pandemic, initiatives to build a more resilient and sustainable future in Malaysia include a focus on digitalization and the development of smart products and infrastructure. Tourism is Malaysia's third largest contributor to GDP. The number of tourists visiting Malaysia is expected to reach 9.2 billion by 2022, translating into USD 5.98 billion in revenue. The Malaysian Smart Tourism 4.0 Initiative aims to unlock the full potential of the tourism industry by leveraging IR 4.0 enabling technologies. While the tourism industry has suffered as a result of the pandemic, initiatives to build a more resilient and sustainable future in Malaysia include a focus on digitalization and the development of smart products and infrastructure. Malaysia's Ministry of Tourism, Arts, and Culture has increased the target for tourist arrivals in 2022 to 9.2 million, with tourism receipts of 26.8 billion RM (USD 5.98 billion), after the country has nearly met the initial target of 4.5 million. Also as per the Malaysian Investment Development Authority (MIDA) with the incorporation of Smart Tourism 4.0 Malaysia's tourism-based revenue is expected to reach about USD 110 billion by 2030 from USD 25 billion in 2018.
Growing Investment in Hotel & Tourism Sector to Surge Hospitality Market in Malaysia
Malaysia's government is working to improve the country's tourism industry. The Malaysian government launched the National Tourism Policy (NTP) on December 2020, as a roadmap for support to the country's tourism industry until 2030. Part of the strategy is to shape Malaysia into a popular tourist destination for visitors from all over the world. An increase in the number of investors in the broader market is expected to benefit Malaysia's hospitality industry.
Hospitality in Malaysia Industry Overview
The Malaysian hospitality industry is a combination of international hotel brands (and their chains) and Asian brands (and their chains). Though both international and Asian brands contribute to an almost equal number in terms of total hotels present in the country, international brands and their chains are dominating the supply of rooms/keys. Many well-established international brands entered the country with a wide range of strategic partnership programs with leading hospitality companies. The market holds great growth opportunities and is embracing many new investors into the industry. Moreover, players including, Genting Group, Accor SA, Shangri-la Hotels and Resorts, Hilton Worldwide Holdings Inc, and Marriott International Inc, among others have been profiled in the report.
Hospitality in Malaysia Market Leaders
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Genting Group
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Accor SA
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Shangri-la Hotels and Resorts
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Hilton Worldwide Holdings Inc
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Marriott International Inc
*Disclaimer: Major Players sorted in no particular order
Hospitality in Malaysia Market News
- In June 2022, LE MERIDIEN Hotels & Resorts opened Le Meridien Petaling Jaya in Petaling Jaya featuring a mid-century modern design with European accents. This new hotel offers 300 stylish, modern rooms with unique dining options and exclusive hotel-guest events.
- In July 2021, American multinational hotel chain operator Marriott International, Inc announced its plan to open Fairfield Kuala Lumpur Jalan Pahang and Four Points by Sheraton Desaru (Johor).
Hospitality in Malaysia Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.5 Leading Cities in Malaysia with Respect to Number of Visitors
4.6 Investments (Real Estate, FDI and others) in the Hospitality Industry
4.7 Insights on Current Trends and Innovations in the Hospitality Industry
4.8 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors
4.9 Insights on Shared Living Spaces Impact on the Hospitality Industry
4.10 Insights on Other Economic Contributors to the Hospitality Industry
4.11 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chain Hotels
5.1.2 Independent Hotels
5.2 By Segment
5.2.1 Budget and Economy Hotels
5.2.2 Mid and Upper Mid-Scale Hotels
5.2.3 Luxury Hotels
5.2.4 Service Apartments
6. COMPETITVE INTELLIGENCE
6.1 Market Concentration Overview
6.2 Company profiles
6.2.1 Genting Group
6.2.2 Marriott International Inc
6.2.3 Accor SA
6.2.4 Shangri-la Hotels and Resorts
6.2.5 Hilton Worldwide
6.2.6 Sunway Hotels& Resorts
6.2.7 Berjaya Hotels & Resorts
6.2.8 Swiss - Garden International
6.2.9 Tune Hotels
6.2.10 Hotel Seri Malaysia*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUTS US
Hospitality in Malaysia Industry Segmentation
The hospitality industry of Malaysia is well-known for playing a crucial role in driving socio-economic development and job creation as a significant catalyst of economic growth. The report aims to provide a detailed analysis of the Malaysian Hospitality industry. It also focuses on market dynamics, emerging trends, and insights into the Malaysian Hospitality industry. Also, it analyses the major players such as Genting Group, Accor SA, Shangri-la Hotels and Resorts, Hilton Worldwide Holdings Inc, and Marriott International Inc, among others, and the competitive landscape in the market. The market is segmented by Type (Chain Hotels and Independent Hotels), and by Segment (Budget and Economy Hotels, Mid and Upper Mid-Scale Hotels, Luxury Hotels, and Service Apartments). The report offers market size and forecasts for the hospitality industry in Malaysia market in value (USD billion) for all the above segments.
| By Type | |
| Chain Hotels | |
| Independent Hotels |
| By Segment | |
| Budget and Economy Hotels | |
| Mid and Upper Mid-Scale Hotels | |
| Luxury Hotels | |
| Service Apartments |
Hospitality in Malaysia Market Research FAQs
What is the current Malaysia Hospitality Market size?
The Malaysia Hospitality Market is projected to register a CAGR of greater than 6.5% during the forecast period (2024-2029)
Who are the key players in Malaysia Hospitality Market?
Genting Group, Accor SA, Shangri-la Hotels and Resorts, Hilton Worldwide Holdings Inc and Marriott International Inc are the major companies operating in the Malaysia Hospitality Market.
What years does this Malaysia Hospitality Market cover?
The report covers the Malaysia Hospitality Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Malaysia Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Malaysia Hospitality Industry Report
Statistics for the 2024 Malaysia Hospitality market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Malaysia Hospitality analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
