Global Hotel Chains in 2024: An Industry of Growth and Innovation

The global hotel ranking for 2024 highlights the resilience and dynamic evolution of the hospitality sector despite the ongoing geopolitical and economic challenges. The top 10 hotel chains have not only expanded but also diversified their portfolios, leveraging international markets, strategic partnerships, and new segments to secure growth. Dominating the list once again is Marriott International, which holds the top spot for the eighth consecutive year, followed by Jin Jiang and Hilton, both showing notable expansion.

A key trend this year is the rise of H World Group, which has surpassed Accor to claim the sixth spot, driven by a remarkable 12.7 percent growth. Strategies across the industry reflect a strong focus on expanding into new geographic areas, investing in renovations, and targeting niche segments like luxury and extended-stay accommodations.

The luxury and lifestyle segments, in particular, have seen increased investment as hotel groups work to capture higher-end travelers. Despite mixed growth rates, all the top players are betting on innovation to stay competitive. Here’s a closer look at the top 10 hotel groups in 2024 and their strategies:

1. Marriott International
With 8,691 hotels and over 1.5 million rooms, Marriott remains the world’s largest hotel chain. Its strategic partnership with MGM Resorts has added 37,000 rooms, contributing to its 4.8 percent growth. Marriott continues to lead with its focus on expansion in Asia-Pacific and the Caribbean, targeting both business and leisure travelers.

2. Jin Jiang
The Chinese giant Jin Jiang secures second place with 13,218 hotels and a growth rate of 7.7 percent. It has successfully maintained momentum through the acquisition of Radisson Hotel Group and strategic development in key markets such as France and China. A five-year plan aims to revitalize its mid-range brands like Campanile.

3. Hilton Hotels
Hilton Worldwide adds 53,000 rooms in 2024, thanks to the launch of two new brands: Spark by Hilton and LivSmart Studios, which cater to upscale economy travelers. Its focus on extended-stay and luxury markets, bolstered by a partnership with Small Luxury Hotels of the World, ensures Hilton’s continued growth in the competitive luxury segment.

4. InterContinental Hotels Group (IHG)
IHG continues to grow, with the Holiday Inn brand driving its expansion, particularly in Asia-Pacific. IHG now has over 936,677 rooms globally, with plans to further boost its presence in the luxury segment. Its luxury and lifestyle pipeline has reached 22 percent, marking a strategic shift for the group.

5. Wyndham Hotels & Resorts
Wyndham adds 500 new hotels, achieving a 3.5 percent growth rate and focusing on international markets, especially with its ECHO Suites Extended Stay brand. Wyndham is also preparing to launch a lifestyle brand, signaling its intent to capture younger, trend-conscious travelers.

6. H World Group (formerly Huazhu)
This Chinese chain marks the highest growth in the ranking, climbing to sixth place with an impressive 12.7 percent increase. H World Group’s growth is fueled by its subsidiary Deutsche Hospitality in Europe. The group plans further expansion in Asia-Pacific and the Middle East, while also advancing its digitization efforts.

7. Accor
Though experiencing a more modest growth rate of 2.4 percent, Accor retains its strong presence in Europe. With a diverse portfolio of nearly 40 brands, Accor is banking on luxury and lifestyle properties to maintain its position. Its recent financial success has given it a pipeline of 225,000 rooms, ensuring long-term growth potential.

8. Choice Hotels
Although growth was slower at 0.8 percent, Choice Hotels is focused on rejuvenating its brands across Europe, contributing to its international growth. The group’s strategy hinges on expanding its franchise model globally, particularly in untapped markets.

9. BTH Hotels
BTH Hotels continues to expand moderately, surpassing 6,000 hotels and achieving a 2.9 percent growth. The chain remains a strong player in the budget and mid-range segments, particularly in China and Southeast Asia.

10. OYO
After several years of decline, OYO is working on a comeback. In 2023, it launched an ambitious growth program to add 1,000 new hotels to its portfolio. The success of this initiative will determine whether the Indian company can reclaim its former market position.

Conclusion
The 2024 ranking of global hotel groups underscores a highly competitive and evolving landscape. From expanding into new markets to emphasizing sustainability, luxury, and digital innovation, these major players are capitalizing on emerging trends to stay ahead. With a focus on growth, collaboration, and customer-centric strategies, the global hospitality industry continues to be a powerhouse of creativity and adaptability.