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          1. Bed & Breakfast Inns Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 6/8/2020
            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.

            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 in the US is highly fragmented: the 50 largest companies account for about 15% of revenue.

            B&Bs compete for overnight accommodations with other hospitality establishments such as hotels, motels, extended-stay inns, country inns, RV parks, campgrounds, and youth hostels. They may ...

             
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