Tourism Industry News
Hotels Aim to Dominate Europe After Conquering U.S.
Europe is the new battleground for the world’s largest hotel companies as they look for sources of growth outside the U.S. market they already dominate.
Four Seasons Hotels Inc., Starwood Hotels & Resorts Worldwide Inc. and Marriott International Inc. are stepping up expansion efforts in Europe, where about 34 percent of hotels fly chain flags, Otus & Co. estimates. In the U.S., they already control about 70 percent of the market, according to Smith Travel Research Inc. of Hendersonville, Tennessee.
The chains can build market share in Europe by appealing to visitors from the U.S., China and India who are likely to seek out internationally recognized brands when traveling, said Rod Taylor, chairman and co-founder of hotel consultants Taylor Global Advisors Ltd. in London.
Get the full story at: BusinessWeek
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