The structure of the hotel industry in Europe continues to evolve, and remains fragmented, despite chain hotels increasing their percentage share of overall room stock. Many countries, including some very large destination markets like Italy and Greece, have a large percentage of hotels which are unbranded, independent and family owned, many with 50 rooms or less.
The independent hotel market in Europe is a big business. It's big in terms of employment, tourism and contribution to the local economy. Most importantly for our industry, independent hotels are big in terms of room inventory.