A closer look at just how massive the hotel industry has become

Everywhere people go, there is some form of accommodation other than the usual residences. Whether hotels, resorts, motels, or BnBs, the hospitality industry is alive and well in almost every city and every town in the world. With this in mind, it’s no wonder that the statistics are staggering.

Here are some facts and figures about the hotel industry.

· There are over 700,000 hotels and resorts in the world in operation.

· In these hotels and resorts, there are over 15 million rooms available.

· The hospitality industry in the U.S. is so massive that over 5 million of the 15 million rooms available can be found here.

· The 5 million rooms in the U.S. are from hotels, resorts, motels, and other establishments that have them rented out.

· At any single point in time, around 2 million of the 5 million rooms in the U.S. are occupied, either by short-time guests, or long-time renters.

· In the U.S., the average cost of renting out a room is $120 USD. The average cost of renting out a room all around the world is $11o USD.

· The most expensive hotel rooms in the U.S. can be found in New York City, with the average price being $1000 USD for a single night.

Real estate investor Tyler T. Tysdal believes that part of creating a positive impact in society is pursuing conscious capitalism and charitable work. Learn more about his work and advocacies here.

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