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Hospitality Market Guide: Types, Trends & Business Opportunities

The purpose of this guide to hospitality is to serve buyers and sellers of goods and services in the hospitality industry. Biscred, in short, is a web-based tool that helps businesses find and connect with each other.

Who this guide is for:

  • Hotel businesses suppliers

  • Commercial real estate service providers

  • Hotel sales & marketing managers

  • Hospitality industry procurement teams

This guide addresses the following questions about the hospitality sector:

  • What are the types of hospitality buildings?

  • What are the trends in the hospitality market?

  • What is unique about hospitality construction and building design?

  • Who are the major players?


What Are the Types Of Properties In The Hospitality Industry?

Within commercial real estate, hospitality typically refers to assets that provide people with entertainment or leisure, whether they are staying at a resort for vacation, working remotely from a hotel or playing games at a casino. The industry is centered around enhancing the customer experience and providing amenities that entertain and enthrall guests.


According to IBISWorld, as of July 29, 2022, the hotel and motel industry was worth $258.1B and grew 50.9% from 2021 to 2022.

While the industry was impacted by the coronavirus pandemic, with many people halting travel plans, it has since bounced back, focusing on providing services that help customers feel comfortable and safe. Over the years, hotels and resorts have made changes to align with customers’ expectations. For instance, while having WiFi in every room was once seen as an amenity, it is now a feature that customers expect. The amenities offered may vary depending on the specific hotel and resort, as well as its star rating.


This guide covers the following aspects of the hospitality industry:

  • Hotels, including boutique hotels, one-to-five-star hotels, luxury hotels.

  • Resorts, including small resorts, beach resorts, recreation resorts (golf, dude ranches), all-inclusive resorts.

  • Casinos, including casino resorts, small casinos, megacasino resorts, slots-only casinos.


What Are The Classifications Of Hotels?

According to Assets America, hotels in the U.S. average approximately 48K SF, with each room consisting of approximately 325 SF.


Hotels are classified by the type of amenities they offer, their quality of service and how much the hotel rooms cost per night, all of which is indicated in a star system. Hotels are rated one to five stars, with one-star hotels having the fewest amenities and five-star hotels consisting of amenities that create a luxury experience.


Below are the classifications of hotels, as well as examples of the amenities they may offer:

  • Five-Star: Considered the most luxurious hotel option and focuses on providing a personalized service that caters to guests’ needs through varying aspects of their stay. They feature high-class and unique dining and entertainment experiences.

  • Examples include the Ritz-Carlton in New York and the Beverly Hills Hotel in Los Angeles.

  • Four-Star: Offers facets needed for a high-quality stay, including a special emphasis on decor and furniture details that enhance comfort. Four-star hotels include amenities like a concierge and valet parking assistance, a gym, a spa and more than one pool and restaurant within the hotel.

  • Examples include The Mirage and MGM hotels in Las Vegas.

  • Three-Star: Focuses on providing a satisfactory stay and includes amenities such as a gym, restaurant and room service inside the hotel.

  • Examples include the Courtyard by Marriott in Chicago and Hilton Garden Inn in New York.

  • Two-Star: Offers mainly basic room necessities, with a few amenities outside the room, such as having an on-site restaurant.

  • Examples include most Holiday Inn Express or Hampton Inn & Suites in throughout the U.S.

  • One-Star: Offers just the basics in the hotel room, with few or no extra amenities on-site.

  • Examples include Motel 6, Super 8, and Econo Lodge hotels throughout the U.S.


What Does The Hotel Ownership Structure Look Like?

Hotels have a unique ownership and operating structure, with multiple players that may perform different roles in the hotel’s appearance and management. Sometimes a single hotel can have four parties involved: a landowner, a building owner, a property manager and a flag.


While the building owner can oversee the ownership and operation of the hotel, in the case of hotel chains, the owner may be in charge of the hotel without having involvement in the day-to-day operations. In these cases, a building owner may hire a property manager or a management company to handle maintenance and day-to-day operations. If a hotel owner hires a management company, the owner will still own the land and property, and the management company carries out the responsibilities.


Additionally, when the hotel owner owns the flag to the hotel, it means that the hotel is affiliated with the brand.


Independent Hotels

An independent hotel is owned and operated by one or more owners who tend to be more hands-on with running and maintaining the hotel on a daily basis. In this type of hotel, there is a strong emphasis on personalization and creating a unique and memorable experience for guests. Examples of independent hotels include The Ivy Hotel in Baltimore and The Betsy Hotel in Miami.


Chain Hotels

Chain hotels, on the other hand, are part of a conglomerate of hotels under the umbrella of one company. Marriott International is a hospitality company that has more than 8,000 hotels within its 30 brands, which include Fairfield at Marriott, Westin and Aloft.


The companies have flags, such as Marriott, Hilton and Holiday Inn, which maintain a set of standards and are franchised out to owners, or franchisees, who are responsible for carrying out the standards and ensuring consistency. When a hotel is franchised, the brand and the owner enter an arrangement in which the owner pays a fee to be affiliated with the brand and utilize its trademarks.



Resorts offer lodging as well as amenities that are often found in hotels, such as restaurants, fitness centers and spas. Guests who stay at a hotel, however, may need to travel outside the hotel to access a wider range of entertainment options, while resorts offer many of these options on-site. Some of these offerings may include golf courses, several pools, direct beach access or even an amusement park. All-inclusive resorts provide an all-encompassing travel experience with prepaid packages. The package level differentiates the experiences offered.


When building a resort, site selection is key. Resorts are intentionally positioned in locations that would attract out-of-towners and are adjacent to aspects of nature, such as a beach or mountain. The location will also determine what resort activities tourists can expect to find.


According to Skift, 60% of resorts are owned by independent owners and brands that are located in one area.



Casinos are spaces for gambling that are either independent of lodging and dining options or combined. Aside from gambling, they may also be used as entertainment spaces for live music, comedy shows and dance events.


To keep players absorbed in the setting, casinos incorporate a mixture of bright light, color and loud noise, and they shut out natural light from outdoors. The floor plan includes slot machines grouped together, within eyesight of game tables to draw players deeper within the casino.


WinStar World Casino and Resort in Thackerville, Oklahoma, is the largest casino in the U.S., comprising more than 400K SF.


What Are The Features Of Hotel And Resort Construction And Design?

While the first part of building a hotel is coming up with a concept and finding the right location, the second step is acquiring the materials and mapping out the construction schedule. The construction process on a hotel or resort can take up to three years to complete.


Many resorts and hotels are built using precast concrete, which is a type of concrete that is produced in a facility separate from the construction site. There, construction crews can shape the concrete to fit the desired design. Because of its durable properties and its ability to hold up against unpredictable weather, it is the most ideal concrete to use for sizable buildings with multiple floors and rooms.


Additionally, many hotels have been built using modular construction, a technique in which the parts of the hotel are built at an off-site facility at the same time as the foundation is being built. These parts will later be attached atop the foundation. This method may be preferred to save time and cut back on how many laborers are needed for the project.


Resorts can also be constructed using a variety of building materials, from stone to bamboo. However, construction crews should factor in the climate and how the weather can impact the build.


Hospitality spaces are often designed with the customer in mind and incorporate elements that enhance the experience. These aspects include:

  • Lobbies with ample space and comfortable furniture for guests waiting to check in or out.

  • Smart technology for temperature control in hotel rooms.

  • Spas and hotel bathrooms designed with relaxation in mind.

  • Decor that incorporates colors that evoke positive emotions.


What Are Future Trends In The Hospitality Market?


Remote Work Accommodations

The pandemic has reshaped the way people work. With employers embracing hybrid and remote work, employees may choose to work in a variety of destinations, including hotels. As a result, hospitality owners have been building spaces to accommodate the new work-from-anywhere movement.


Some features include:

  • Fast, free, secure and reliable WiFi

  • Multiple outlets for plugging in computers

  • Lighting that supports productivity

  • Furniture and table arrangements that allow for working together

  • Private rooms for individual work

  • Conference rooms for private meetings


ESG Initiatives In Hospitality

The hospitality sector will continue to ramp up its environmental, social and governance, or ESG, initiatives to ensure that it makes changes that have a positive impact on its clientele. Some hotels have taken environmentally sound measures, such as minimizing waste and water usage.


According to Hospitality Net, some hotels have taken the following ESG initiatives:

  • Hotel chains such as Accor, Hilton and Hyatt have created goals for reducing emissions by 30% through year 2030.

  • While Marriott and Hilton have been working to bring more women into higher positions, Host has set objectives for ensuring that two or more women and people of color are included in consideration for executive roles.


Growth In Extended-Stay Properties

As many people have taken to working outside of the office, hotels have embraced opportunities to create new developments as well as redevelop their existing properties to accommodate customers’ varying travel and work styles.


At the beginning of 2022, Marriott addressed some key trends in the hospitality sector. One trend has been people’s strong preference for extended-stay properties, which made up 37% of the hotel chain’s bookings in 2021. In addition to opening several extended-stay residences in international cities, Marriott has also revitalized its existing properties, including updating its decor to be both modern and on-brand and creating spaces that have the capacity to be used for both work and downtime.


Hilton is another hotel brand that is focused on changing its offerings with the times, including integrating technology to create a seamless and hygienic experience. Guests can use an app to check in and out of the hotel, access their room key and operate lights and TVs.


Who Are The Major Players In Hospitality CRE?


Westmont Hospitality Group

Westmont Hospitality Group owns and runs more than 1,000 hotels, partnering with major brands such as Hilton, Hyatt and Marriott on a variety of hotel assets.


In July 2022, Westmont Hospitality Group and investment firm Angelo Gordon made a combined investment in Room Mate, a group of boutique hotels with locations around the world.


Quick Facts About Westmont Hospitality Group

  • Manages 500 hotels in a dozen countries.

  • According to Growjo, Westmont Hospitality Group properties’ total earnings in a year are around $267.8M.


Wynn Resorts

Wynn Resorts Ltd. is an S&P 500 company that builds and manages casinos and resorts that include lodging, retail and entertainment. Its Las Vegas location consists of two high-end hotel towers, along with 194K SF in casinos, 160K SF of retail and 430K SF of meeting and event areas.


On Oct. 31, 2022, Bisnow reported that Tilman Fertitta, a Houston billionaire, had acquired 6.9 million shares in Wynn Resorts.


Quick Facts About Wynn Resorts

  • Has two properties in Las Vegas and Boston, as well as two properties in Macau.

  • According to Grojo, Wynn Resorts’ total earnings in a year are estimated to be $3.4B


Host Hotels & Resorts

Host Hotels & Resorts is classified as a real estate income trust that owns and oversees hotels in the upper-upscale and luxury categories. The company is based in Bethesda, Maryland, with properties around the U.S., as well as international locations including Calgary, Alberta, and Rio de Janeiro.


Quick Facts About Host Hotels & Resorts:

  • Owns 42,300 hotel rooms.

  • Nine assets are LEED-certified, with plans in motion for another 11 buildings to become LEED-certified.

  • According to Growjo, Host Hotels & Resorts’ yearly income is around $2.2B



Accor is a hotel developer that operates 5,300 hotels around the world and is developing plans for another 1,200 hotels. The company offers diverse hotel options, ranging from economy to luxury lodging. Among the hotels that operate under the umbrella of Accor are Banyan Tree, Emblem and Orient Express.


Quick Facts About Accor:

  • Runs 778,000 hotel rooms.

  • Its portfolio includes 40 brands.

  • According to Growjo, Accor’s yearly income is around $28.1B.


Key Facts About The Hospitality CRE Industry

  • According to CEO World Magazine, Marriott Hotels occupies the most hotel space, with over 1.4 million rooms across 7,642 hotels.

  • Las Vegas’ Excalibur Hotel and Casino has the most rooms in the U.S. with 3,981. It is also home to a 100K SF casino, according to Far & Wide.

  • According to Market Data Forecast, in 2021, the hospitality industry was worth $3.49B

 Selling to Hotels, Resorts and Hospitality Companies

Vendors looking for tips on how to get into the hotel business can start by networking and joining hospitality organizations. Although many of these organizations are lobbying groups, they do provide opportunities to connect with others in the hotel and hospitality industry.

The above list includes national organizations and associations, but look for regional ones as well. If you're located in the northeast U.S., for example, you'd look into the Hotel Association of New York City and the New York State Hospitality & Tourism Association. There are hotel and hospitality associations that serve the individual 50 states and Puerto Rico, plus the Caribbean.

What can I supply to hotels?

Opportunities depend on the type and size of the property, but these are the categories that do business with hospitality companies:

  • Furniture and fixtures: beds, mattresses, seating, wardrobes, lighting fixtures, mirrors, and artwork

  • Textiles and linens: bedding, towels, window coverings

  • Bathroom supplies: soaps, toiletries, toilet paper, hair dryers

  • Food and beverage: bottled water, mini-bar supplies, catering supplies, coffee makers and supplies

  • Cleaning and housekeeping: detergents, disinfectants, laundry supplies

  • Guest supplies: stationary, in-room directories, bathrobes, toiletries and personal care items

  • Technology: televisions, Wi-Fi, in-room safes, hotel management software, computers for guest use

  • Fitness and recreation: gym equipment, spa supplies, pool maintenance and supplies

  • Office and admin: office equipment, paper supplies, lobby furniture and decor, staff uniforms (and cleaning)

  • Grounds management: landscaping service and supplies, outdoor furniture, decorative plants, sculptures, water features

  • Security: cameras, alarms, fire safety equipment, compliance inspections and consulting, key card systems, first aid supplies

How to become a vendor for hotels

Most managed properties have an application protocol to become a vendor. They'll issue a request for proposal, which is a formal invitation for vendors of goods and services to apply.

But who says you have to wait to be invited to apply to become a vendor? Savvy sales development representatives have been using Biscred to expand their networks and connect with properties all over the U.S. Find and connect with hospitality real estate developers, hotel distributors, hotel sales and marketing professionals, and suppliers in the hotel and hospitality industry.

Let us show you how it works. Schedule a 30-minute demo or request a free trial.

Top Hospitality Stories

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