Market Sizes in Phoenix, AZ

Goals

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.

Early Findings

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.

Hospitality Industry

  • 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.

Commercial Offices

  • 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.

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