Switzerland Hospitality Market Size
| Study Period | 2019- 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2023 - 2028 |
| Market Size (2023) | USD 5.25 Billion |
| Market Size (2028) | USD 5.91 Billion |
| CAGR (2023 - 2028) | 2.40 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Switzerland Hospitality Market Analysis
The Hospitality Industry In Switzerland is estimated at USD 5.25 billion in 2023, and is expected to reach USD 5.91 billion by 2028, growing at a CAGR of 2.40% during the forecast period (2023-2028).
The hospitality industry in Switzerland has traditionally been a significant contributor to the country's economy, driven by its reputation for luxury tourism, world-class hotels, and stunning natural landscapes. However, the COVID-19 pandemic had a profound impact on the industry, causing disruptions and challenges on an unprecedented scale.
With the emergence of COVID-19, the hospitality industry in Switzerland experienced a sharp decline in demand and revenue. Travel restrictions, border closures, and lockdown measures implemented to curb the spread of the virus severely impacted the tourism sector. International travel stopped, and domestic travel significantly declined as people adhered to social distancing measures and stayed home.
- The hospitality industry in Switzerland is growing though the number of visitors to the country is stagnating. The number of visitors from the US is on the rise, whereas it recorded a drop in visitors from Gulf countries; visitors from Hong Kong, Taiwan, and Japan also registered growth rates, whereas there was a sudden drop in the total number of visitors from Arabian countries with more than 8%. Switzerland also registered a decline in visitors from Italy, Spain, the United Kingdom, and France. The rise in domestic travel helped the country to recover from the loss caused by these drop rates. The hospitality industry is on the rise, especially international brands. The chain penetration rate of international brands and their chains is increasing. There are around 64 international brands that are offering their services in Switzerland.
Switzerland Hospitality Market Trends
Rising Online bookings Boosting the Market
The hospitality industry in Switzerland has witnessed a significant shift towards digitalization, with an increasing number of bookings being made online. Events like the COVID-19 pandemic and evolving traveler expectations further accelerated the digital transformation.
Digitalization has brought about notable changes in how hoteliers manage their services and cater to customer needs. Mobile apps have become crucial tools for hoteliers to streamline operations and enhance the guest experience. These apps enable hoteliers to efficiently control various aspects of the guest cycle, offering convenience and personalized services.
Hoteliers embrace technology-driven solutions to stay competitive, attract guests, and provide a superior guest experience. As the digital transformation continues to unfold, it is expected to reshape how the hospitality industry operates and interacts with customers in Switzerland.
Increasing Revenue from Business Travel Driving the Market
Switzerland is a hub for international business activities, hosting numerous multinational corporations and headquarters of global organizations. Cities like Zurich, Geneva, and Basel are known for thriving business environments. This attracts a steady stream of business travelers who require accommodation, meeting spaces, and other hospitality services during their visits.
Switzerland boasts state-of-the-art meeting and conference facilities catering to business travelers' needs. Many hotels are equipped with modern conference rooms, audiovisual equipment, and business support services. Additionally, purpose-built convention centers like Palexpo in Geneva and Messe Basel in Basel offer extensive exhibition spaces and conference facilities, attracting large-scale events.
Switzerland Hospitality Industry Overview
The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section includes the company profiles of the key players and industry analysis. The hospitality Industry in Switzerland is offered by groups such as Accor SA, InterContinental Hotels Group, Marriott International, Inc, Sorell Hotels, and Radisson Hotel Group.
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
- May 2023: IHG announced the extension of its Multiple Development Agreement across Northern Europe with Tristar GmbH. The agreement sees the partnership grow to 60 hotels with IHG Hotels & Resorts by 2035, with developments planned in Germany, Austria, Switzerland, Poland, and Italy.
- March 2023: Radisson Hotel Group entered the serviced flat market in Switzerland with the opening of the Radisson Hotel & Suites Zurich in May 2023. The Radisson Hotel & Suites Zurich is located in the new Opfikon district, Glattpark, which has sprung up in recent years. The area is centrally located between Zurich city center and the airport.
Switzerland Hospitality Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
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
4.4 Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors
4.7 Leading Cities in Switzerland with Respect to Number of Visitors
4.8 Investments (Real Estate, FDI and others) in the Hospitality Industry
4.9 Insights on Technological Advancements in the Hospitality Industry
4.10 Insights on Shared Living Spaces Impact on the Hospitality Industry
4.11 Insights on Other Economic Contributors to the Hospitality Industry
4.12 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 Service Apartments
5.2.2 Budget and Economy Hotels
5.2.3 Mid and Upper mid scale Hotels
5.2.4 Luxury Hotels
6. COMPETITVE INTELLIGENCE
6.1 Market Concentration
6.2 Company Profiles
6.2.1 Accor SA
6.2.2 InterContinental Hotel Group
6.2.3 Marriott International Inc
6.2.4 Radisson Hotel Group
6.2.5 Sorell Hotels
6.2.6 Sunstar-Holding AG
6.2.7 Best Western International Inc.
6.2.8 Hotels by Fassbind
6.2.9 Boas-Yakhin Holding SA
6.2.10 H Hotels*
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE OUTLOOK OF THE SECTOR
9. APPENDIX
Switzerland Hospitality Industry Segmentation
The hospitality industry means providing services such as stay, lodging, food, drinks, entertainment, and more related services of facilities that a traveler or tourist may need or which can be of help and comfort. A complete background analysis of the Hospitality Industry in Switzerland, which includes an assessment of the industry associations, overall economy, emerging market trends by segments, significant changes in the market dynamics, and a market overview, is covered in the report. The Hospitality Industry in Switzerland is segmented by Type (Chain Hotels and Independent Hotels) and Segment (Service Apartments, Budget and Economy Hotels, Mid and Upper Mid Scale Hotels, and Luxury Hotels). The report offers market size and forecasts for the Hospitality Industry in Switzerland Market in value (USD million) for all the above segments.
| By Type | |
| Chain Hotels | |
| Independent Hotels |
| By Segment | |
| Service Apartments | |
| Budget and Economy Hotels | |
| Mid and Upper mid scale Hotels | |
| Luxury Hotels |
Switzerland Hospitality Market Research FAQs
How big is the Switzerland Hospitality Market?
The Switzerland Hospitality Market size is expected to reach USD 5.25 billion in 2023 and grow at a CAGR of 2.40% to reach USD 5.91 billion by 2028.
What is the current Switzerland Hospitality Market size?
In 2023, the Switzerland Hospitality Market size is expected to reach USD 5.25 billion.
Who are the key players in Switzerland Hospitality Market?
Accor SA, InterContinental Hotels Group, Marriott International, Inc, Sorell Hotels and Radisson Hotel Group are the major companies operating in the Switzerland Hospitality Market.
Hospitality in Switzerland Industry Report
Statistics for the 2023 Hospitality in Switzerland market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hospitality in Switzerland analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
