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First Research Industry Profile Excerpt
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Bed & Breakfast Inns
SIC Codes: 7011
NAICS Codes: 721191
Last Quarterly Update: 3/10/2014
Companies in this industry provide short-term lodging in private homes or small buildings converted to hotels; full breakfast typically is included in the room rate. No major companies operate in the industry.
The US bed and breakfast (B&B) industry includes about 3,000 establishments with combined annual revenue of about $1 billion. Leisure tourism spending is a key growth driver.
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 is highly fragmented: the 50 largest companies account for about 15 percent of revenue.
B&Bs compete for overnight accommodations with other hospitality establishments such as hotels, motels, extended-stay inns, country inns, RV parks, and campgrounds. Distinctions between country inns and B&B inns aren't always clear, but typically a country inn has 10 or more rooms and operates a restaurant on premises, while B&Bs average about six rooms and serve only breakfast.
Products, Operations & Technology
The major offering of B&Bs is rental of guest rooms (about 80 percent of revenue): other sources of revenue are gift shop sales, food ... plus:
Sales & Marketing
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Finance & Regulation
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Regional Highlights
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms
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