Market Sizes in Phoenix, AZ
Identify the market sizes of the following industries in the Phoenix metropolitan area: restaurant chains, hospitality (hotels and resorts), property management firms, medical centers, retail centers, and commercial offices. Market size should be defined as the number of businesses in each industry, not as sales volume.
Restaurant Chain Industry
- In 2018, 10,281 restaurants existed in the state of Arizona.
- On Yelp, approximately 1,680 restaurants are listed as chain restaurants in Phoenix.
- Phoenix has more than 185 hotels and resorts. The largest hotel in Phoenix is the Sheraton Grand Phoenix, with 1,000 rooms.
- The Greater Phoenix area includes more than 480 hotels.
- TripAdvisor lists 233 hotels and places to stay in Phoenix.
Property Management Industry
- Google Maps identifies approximately 238 businesses in Phoenix as property management firms.
- Yelp lists approximately 300 businesses in Phoenix as property management firms.
Medical Center Industry
- US News lists 63 hospitals in its ranking of hospitals in Phoenix. Among these hospitals, 25 have the term "medical center" in their name.
- Yelp has approximately 300 listings in Phoenix under the category "Hospitals," and 1,840 listings categorized as medical centers.
Retail Center Industry
- Phoenix's tourism website, Visit Phoenix, lists 15 malls and shopping centers.
- TripAdvisor lists 10 shopping malls in Phoenix.
- Phoenix has 46 square feet of retail space for every person.
- In 2018, demand for Class A office properties in Phoenix outpaced supply.
- On the commercial real estate website, Office Space, 4,066 listings for commercial office space are available for rent or purchase.
Proposed next steps:
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In our preliminary hour of research, we found some promising results. We recommend continuing our research by creating three requests: one focused on restaurant chains and the hospitality sector, a second focused on property management firms and medical centers, and a third focused on retail centers and commercial offices. For each industry, we would verify or correct the market sizes identified in our preliminary research by providing additional sources. We would also provide information on the growth of the industry, the major players, annual sales revenue, and any other relevant information.
Alternatively, we could focus specifically on identifying the major players and their market shares for each industry (restaurant chains, hospitality (hotels and resorts), property management firms, medical centers, retail centers, and commercial offices). We would split the six industries into two requests, with one request centering on restaurant chains, hospitality, property management firms, and the other focusing on the remaining industries. For each industry, we would identify the top 3-5 players, describe each one, and determine their market share.
Other: You tell us how to proceed.