Bed & Breakfast Inns Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 11/21/2016
SIC Codes: 7011
NAICS Codes: 721191
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Bed & Breakfast Inns Industry Profile

Companies in this industry provide short-term lodging in private homes or small buildings converted to hotels; full breakfast is included in the room rate. No major companies operate in the industry.

The global lodging industry, which includes bed and breakfast inns, generates about $500 billion in revenue per year, according to Euromonitor International. Increasing travel to emerging nations in the Asia/Pacific region and Latin America is driving global growth. Europe is the world's top market for international tourism spending, followed by Asia-Pacific, the Americas, and the Middle East.

The US bed and breakfast (B&B) industry includes about 17,000 establishments (single-location companies or units of multi-location companies), most of which are family-owned and operated. About 3,000 B&Bs in the US have paid employees on staff; those establishments generate combined annual revenue of about $1 billion. Industry-wide revenue in the US is more than $3 billion annually, according to the Professional Association of Innkeepers International.

COMPETITIVE LANDSCAPE

Demand is driven by personal disposable income. The profitability of individual establishments depends on occupancy rate and operational efficiency. Larger B&Bs may have advantages in providing a range of offerings and prices to suit a variety of traveler budgets. Small establishments can compete effectively by offering superior customer service to target markets. The industry is highly fragmented: the 50 largest companies account for about 15% of revenue.

B&Bs compete for overnight accommodations with other hospitality establishments such ...

 
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