Hospitality Industry In Argentina Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.35 Billion |
| Market Size (2029) | USD 3.87 Billion |
| CAGR (2024 - 2029) | 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hospitality Industry In Argentina Market Analysis
The Hospitality Industry In Argentina Market size is estimated at USD 3.35 billion in 2024, and is expected to reach USD 3.87 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).
The hospitality industry in Argentina is growing steadily, with international market leaders expanding their footprint in the region. It became the top tourist destination in South America. The tourism sector is one of the top five revenue generators in the country. With the increasing number of travelers to Argentina, the capital, Buenos Aires, has become an investor-attractive region. Most of the international leaders already have their presence in this region. International brands, like Wyndham and Marriott, are rapidly expanding in the region and introducing their brands one after another.
Specialized travel agencies, seniors-only hotels, as well as extended-stay hotels are just some examples of hospitality players positioning themselves for aging travelers. Argentina particularly targets this segment due to government subsidies and programs.
COVID-19 had a huge impact on the hospitality industry of Argentina. The inbound, outbound, and domestic tourism was severely impacted due to COVID-19. The contribution of hotels and restaurants towards the GDP of Argentina was recorded to be meagre. Post-COVID-19, the tourism sector of Argentina recorded huge growth, which in turn had a positive growth on the hospitality industry of Argentina.
Argentina Hospitality Industry Market Trends
The Buenos Aries is Dominating the Market
Buenos Aries, which is built on tourism, is witnessing many new hotel openings every year. The city is also considered a cultural hub, as it has more than 300 theaters, ranking fourth in the world of theater activity. This has made the region the first choice for international events. The hospitality industry in Argentina is a combination of domestic and international brand hotels and their chains, which are spread across the country. Most of the international brands have their presence largely in Buenos Aires, which has been recording a high number of tourist arrivals.
Tourism is Driving the Hospitality Industry of Argentina
Argentina ranks high globally in the size of domestic and foreign markets to which its firms have access, which in turn demonstrates the potential to boost the returns on the capital invested to encourage travel and tourism.
Greater focus on improving infrastructure, developing a strong digital strategy, increasing nation branding and sustainably leveraging its natural assets are recommended to enhance the sector in the country. Argentina’s vast size makes air travel one of its key assets. When it comes to nature, Argentina presents an incomparable frame where geographical and climatic elements live in continuous contrast. The government and industry have invested heavily in its air infrastructure by improving airport terminals, generating new flight routes, promoting competition among airlines, and addressing the needs of new tourist profiles, such as millennials or late baby boomers.
Argentina Hospitality In Industry Overview
The hospitality industry in Argentina is fragmented in nature, with the presence of international and leading domestic players. The report on the Hospitality Industry in Argentina covers the major international players and the leading domestic players in the hospitality industry in Argentina. Some of the major players in the market include Wyndham Hotel Group LLC, Marriott International, NH Hotels Group SA, Four Seasons Hotels, and Accor SA, among others.
Argentina Hospitality Market Leaders
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Wyndham Hotel Group LLC
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Marriott International, Inc
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NH Hotels Group SA
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Four Seasons Hotels
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Accor SA
*Disclaimer: Major Players sorted in no particular order
Argentina Hospitality Market News
- June 2022: Argentina’s hotel and restaurant federation sought to level the playing field in online distribution by debuting a homegrown booking website. Federación Empresaria Hotelera Gastronómica de la República Argentina (FEHGRA) has launched ReservAR AlojaMiento, which promotes local, licensed establishments and whether they are affiliated with the association or not.
- August 2023: IHG Hotels and Resorts, one of the world's hotel companies, launched its new midscale conversion brand, Garner an IHG Hotel. The brand will be the leading choice for guests wanting great value stays at high-quality properties and for owners seeking higher returns in the midscale segment.
Hospitality Industry In Argentina Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Tourism Sector is Driving the Market
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4.3 Market Restraints
- 4.3.1 Rising Operational Costs are Restraining the Market
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4.4 Market Opportunities
- 4.4.1 Innovations in Digital Services will Create Opportunities to New Entrants
- 4.5 Industry Value Chain Analysis
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4.6 Industry Attractiveness: Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Threat of new Entrants
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Technological Innovations in the Hospitality Industry
- 4.8 Impact of COVID-19 on Hospitality Industry of Argentina
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Chain Hotels
- 5.1.2 Independent Hotels
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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. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Wyndham Hotel Group LLC
- 6.2.2 Marriott International Inc
- 6.2.3 NH Hotels Group SA
- 6.2.4 Four Seasons Hotels
- 6.2.5 Accor SA
- 6.2.6 InterContinental Hotel Group
- 6.2.7 Amerian Hoteles
- 6.2.8 Fierro Hotels
- 6.2.9 Hoteles Panaamericano
- 6.2.10 Hotel Madero
- 6.2.11 Alvear Hotels & Residences
- 6.2.12 Alvarez Argelles Hoteles
- 6.2.13 AADESA Hotels*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityArgentina Hospitality Industry Segmentation
The hospitality sector encompasses a wide range of fields within the service industry, such as lodging, food and beverage service, event organizing, theme parks, travel agencies, tourism, hotels, restaurants, and bars.
The study gives a brief description of the Argentina hospitality industry. It includes details on the assessment of the industry associations, insights on the hotel industry in Argentina, company profiles of domestic and international hotel brands, emerging market trends by segments, and significant changes in the Argentina hospitality industry market dynamics.
Argentina's hospitality industry is segmented by type and by segment. By type, the market is segmented into chain hotels and independent hotels. By segment, the market is segmented into 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 Argentina in value (USD) 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 |
Hospitality Industry In Argentina Market Research FAQs
How big is the Hospitality Industry In Argentina Market?
The Hospitality Industry In Argentina Market size is expected to reach USD 3.35 billion in 2024 and grow at a CAGR of 3% to reach USD 3.87 billion by 2029.
What is the current Hospitality Industry In Argentina Market size?
In 2024, the Hospitality Industry In Argentina Market size is expected to reach USD 3.35 billion.
Who are the key players in Hospitality Industry In Argentina Market?
Wyndham Hotel Group LLC, Marriott International, Inc, NH Hotels Group SA, Four Seasons Hotels and Accor SA are the major companies operating in the Hospitality Industry In Argentina Market.
What years does this Hospitality Industry In Argentina Market cover, and what was the market size in 2023?
In 2023, the Hospitality Industry In Argentina Market size was estimated at USD 3.25 billion. The report covers the Hospitality Industry In Argentina Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Hospitality Industry In Argentina Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hospitality Industry In Argentina Industry Report
The Argentina hospitality market report provides an industry overview and market overview of the hospitality sector in Argentina. The report segments the market by type, including chain hotels and independent hotels, and by segment, such as service apartments, budget and economy hotels, mid- and upper-mid-scale hotels, and luxury hotels. The industry report offers an in-depth industry analysis, including industry growth and industry trends, and provides valuable industry information and industry statistics for stakeholders.
The market report also delves into the market size and industry size, providing insights into the market value and market segmentation. The industry research includes industry sales data and industry outlook, helping to identify market leaders and forecast market growth. The report pdf and report example offer a comprehensive view of the market forecast and market predictions, aiding in understanding the market trends and market review.
Furthermore, the report includes market data and analysis, highlighting the market outlook and market update. It serves as a crucial resource for research companies and provides an annual report on the industry's performance. The sector analysis and industry profile offer a detailed examination of the industry's worth and market cap, ensuring that stakeholders have access to the latest market statistics and industry forecast.
In summary, the Argentina hospitality market report is an essential tool for understanding the industry's dynamics, including market segmentation, market value, and growth rate. It provides a thorough market analysis and industry reports, making it indispensable for anyone looking to gain a comprehensive understanding of the market trends and industry outlook in Argentina's hospitality sector.
