Switzerland Hospitality Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 10.41 Billion |
| Market Size (2029) | USD 13.43 Billion |
| CAGR (2024 - 2029) | 5.23 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Switzerland Hospitality Market Analysis
The Hospitality Industry In Switzerland Market size is estimated at USD 10.41 billion in 2024, and is expected to reach USD 13.43 billion by 2029, growing at a CAGR of 5.23% during the forecast period (2024-2029).
Switzerland is a well-liked travel destination for people worldwide and has a long history of providing luxurious hospitality. The hospitality industry in Switzerland is growing, although the number of visitors to the country needs to increase. Various lodging options, such as hotels, resorts, bed and breakfasts, and chalets, define the nation's hospitality market. Significant cities like Zurich, Geneva, and Lucerne have a strong presence in international hotel chains, offering a variety of upscale and boutique accommodations. These cities cater to business and leisure travelers, focusing on providing high-quality services and amenities. The hotel industry is expanding, particularly for global companies. International brands and their chains are becoming increasingly ingrained in the chain. Switzerland is home to about 64 foreign brands that provide their services worldwide.
There has been a growing trend of wellness tourism in Switzerland in recent years. Many hotels and resorts offer spa facilities and wellness programs to cater to this demand. Additionally, eco-friendly and sustainable tourism practices have gained prominence, with several establishments implementing green initiatives and promoting responsible tourism.
Switzerland Hospitality Market Trends
Rising Online Bookings Fueling the Market
The Swiss hospitality industry has undergone a significant digital transformation, as many bookings are being made online. Two developments that accelerated the digital transformation process have been the COVID-19 pandemic and evolving traveler expectations. Because of digitalization, hoteliers now operate their businesses and handle customer expectations in a very different way. These days, hoteliers use mobile apps extensively to streamline operations and enhance the visitor experience. Using these apps, hotel operators can quickly and individually cater to each guest's needs while managing multiple aspects of the visitation cycle. Tech-driven solutions help hoteliers stay competitive, attract new business, and provide a great guest experience. The impending digital revolution is expected to significantly change how the Swiss hotel industry operates and interacts with its customers.
Increase in Business Travel Fueling the Market
Switzerland is a global hub for corporate activities, accommodating the head offices of numerous multinational corporations and international institutions. Locations like Basel, Geneva, and Zurich are known to have thriving business environments. Business visitors regularly visit this location and require accommodation, conference facilities, and other hospitality services during their stays. For business travelers, Switzerland provides state-of-the-art conference and meeting facilities. Modern meeting rooms, corporate support services, and audiovisual technologies are standard in hotels. Large-scale events are also lured to specially designed convention centers like Palexpo in Geneva and Messe Basel in Basel, which provide spacious exhibition spaces and conference facilities.
Switzerland Hospitality Industry Overview
The hospitality industry in Switzerland is fragmented. The study outlines the many strategic measures that the top competitors in the market have put in place to establish a strong foothold, including new product releases, technical advancements, mergers and acquisitions, joint ventures, and commercial deals and collaborations. Groups including Accor SA, InterContinental Hotels Group, Marriott International Inc., Sorell Hotels, and Radisson Hotel Group are among those that provide services in the hotel industry in Switzerland.
Switzerland Hospitality Market Leaders
-
Accor SA
-
InterContinental Hotels Group
-
Marriott International, Inc
-
Sorell Hotels
-
Radisson Hotel Group
*Disclaimer: Major Players sorted in no particular order
Switzerland Hospitality Market News
- March 2024: Central Asian University (CAU) and HTMi Hotel and Tourism Management Institute Switzerland signed a memorandum of cooperation.
- May 2023: IHG and Tristar GmbH announced the expansion of their Multiple Development Agreement to include all of Northern Europe. By 2035, the cooperation with IHG Properties & Resorts is expected to reach 60 properties, with projects planned in Germany, Austria, Switzerland, Poland, and Italy.
Switzerland Hospitality 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
4.2.1 Rising Online Bookings Boosting the Market
4.2.2 Increasing Revenue from Business Travel Driving the Market
4.3 Market Restraints
4.3.1 Seasonal Demand Restraining the Market
4.3.2 Rising Costs Restraining the Market
4.4 Market Opportunities
4.4.1 Rising Demand for Sustainable and Eco-friendly Accommodation
4.5 Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Buyers
4.6.2 Bargaining Power of Suppliers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Revenue Flows from Accommodation and Food and Beverage Industries
4.8 Leading Cities in Switzerland with Respect to Numbers of Visitors
4.9 Investments (Real Estate, FDI, and Others) in the Hospitality Industry
4.10 Insights into Technological Advancements in the Hospitality Industry
4.11 Insights into the Impact of Shared Living Spaces on the Hospitality Industry
4.12 Insights into Other Economic Contributors to the Hospitality Industry
4.13 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Service Apartments
5.1.2 Chain Hotels
5.1.3 Independent Hotels
5.2 By Segment
5.2.1 Budget and Economy
5.2.2 Mid and Upper Mid-scale
5.2.3 Luxury
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Market Concentration
6.1.2 Accor SA
6.1.3 InterContinental Hotel Group
6.1.4 Marriott International Inc.
6.1.5 Radisson Hotel Group
6.1.6 Sorell Hotels
6.1.7 Sunstar-Holding AG
6.1.8 Best Western International Inc.
6.1.9 Hotels by Fassbind
6.1.10 Boas-Yakhin Holding SA
6.1.11 H Hotels
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. APPENDIX
Switzerland Hospitality Industry Segmentation
In the hospitality industry, services, including accommodation, food, and other facilities that travelers or tourists may require or find helpful and comfortable, are provided. The research provides a comprehensive background analysis of the hospitality industry in Switzerland, including an evaluation of industry associations, the general economy, emerging market trends by segment, notable shifts in market dynamics, and a market overview.
The hospitality industry in Switzerland is segmented by type into service apartments, chain hotels, and independent hotels. By segment, the market is categorized into budget and economy, mid and upper mid-scale, and luxury. The report offers market sizes and forecasts in terms of value (USD) for all the above segments.
| By Type | |
| Service Apartments | |
| Chain Hotels | |
| Independent Hotels |
| By Segment | |
| Budget and Economy | |
| Mid and Upper Mid-scale | |
| Luxury |
Switzerland Hospitality Market Research FAQs
How big is the Hospitality Industry In Switzerland Market?
The Hospitality Industry In Switzerland Market size is expected to reach USD 10.41 billion in 2024 and grow at a CAGR of 5.23% to reach USD 13.43 billion by 2029.
What is the current Hospitality Industry In Switzerland Market size?
In 2024, the Hospitality Industry In Switzerland Market size is expected to reach USD 10.41 billion.
Who are the key players in Hospitality Industry In Switzerland Market?
Accor SA, InterContinental Hotels Group, Marriott International, Inc, Sorell Hotels and Radisson Hotel Group are the major companies operating in the Hospitality Industry In Switzerland Market.
What years does this Hospitality Industry In Switzerland Market cover, and what was the market size in 2023?
In 2023, the Hospitality Industry In Switzerland Market size was estimated at USD 9.87 billion. The report covers the Hospitality Industry In Switzerland Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Hospitality Industry In Switzerland Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hospitality in Switzerland Industry Report
Statistics for the 2024 Hospitality in Switzerland market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Hospitality in Switzerland analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
