Growth Potential of Hotels Market:

The Hotels Market was estimated to be worth USD 981.22 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 9.2% to reach USD 1816.88 billion by 2030.

Hotels Market Recent Developments:

Recent developments in the hotels market reflect a dynamic evolution driven by changing consumer preferences, technological advancements, and sustainability concerns. The industry is witnessing a surge in demand for unique and personalized experiences, with boutique hotels and experiential accommodations gaining popularity. Technology integration is a major trend, with hotels adopting AI, IoT, and mobile apps to enhance guest convenience and streamline operations. Sustainability is also at the forefront, with an increasing number of properties implementing eco-friendly practices and aiming for certifications such as LEED or Green Key. The market is also seeing a rise in hybrid and mixed-use developments, blending hotel stays with residential and commercial spaces to offer a more comprehensive lifestyle experience. Additionally, the focus on health and wellness has led to the expansion of wellness-focused hotels and amenities, catering to a growing interest in well-being and self-care among travelers.

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Hotels Market Report Scope and Research Methodology:

This research report provides an in-depth look at the Hotels market. It covers market segments, regions, and the strategies of leading companies. The report analyzes opportunities, challenges, drivers, and constraints at different levels. It also includes data on import/export consumption, supply and demand, prices, costs, and gross margins. The information comes from primary and secondary research methods, such as surveys and interviews, to ensure it is accurate. SWOT and descriptive analyses are used to evaluate important information. The aim is to offer critical data about the Hotels Market. Data collection is crucial for tracking market trends through qualitative and quantitative research. The market is also assessed for future potential, R&D projects, innovative practices, and industry consolidation.

All of the data is gathered in raw format and then rigorously filtered so that just the information that is needed is retained. Before being used further, the remaining data is thoroughly verified and its legitimacy (as the source) is examined. We have also gathered and combined the information from our earlier market research studies. Our sizable internal data warehouse contains all of the prior reports. Additionally, the professionals compile trustworthy data from the premium databases.

Hotels Market Regional Insights:

Regional analysis is conducted to assess the status of the Hotels market in countries belonging to North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of several factors such as market size, growth rate, and import-export activities, across different regions. The Hotels market is segmented broadly into these regions, allowing for a detailed understanding of the market landscape and dynamics in each geographical area.

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Hotels Market Segmentation:

by Hotel Type

Business/ Commercial Hotels
Boutique Hotels
Resort Hotels
Casino Hotels
Transit Hotels
Bed & Breakfast Hotels
Others

The market is divided into business/commercial hotels, boutique hotels, resort hotels, casino hotels, transit hotels, bed and breakfast hotels, and others depending on the type of hotel. Over the projected period, the business/commercial hotel segment is anticipated to develop at a CAGR. The primary driver of the expansion of the Business/Commercial Hotels segment in the global market during the forecast period is the growing consumer demand for these types of hotels due to its numerous benefits.

by Price Level

Luxury
Upscale
Midscale
Economy

The market is divided into four segments: Luxury, Upscale, Midscale, and Economy, based on Price Level. The luxury market is anticipated to expand at a CAGR throughout the projected period. Growing tourism, rising disposable income, rising living standards, and a growing propensity for leisure travel are the elements behind the rise of the luxury market. Throughout the projection period, these are the main drivers of the global market's growth.

by Room Capacity

Small
Medium
Large
Mega

The market is divided into four segments based on room capacity: small, medium, large, and mega. By 2030, the small room capacity segment is anticipated to have the highest market shares. Little hotels are becoming more and more popular in the world's major cities; they stand out for having little rooms, cleverly designed spaces, and less expensive prices than typical. North America is a favorable place for investors in the hotel industry because tiny hotels are the trend that are most prevalent there.

by Business Model

Individual
Chain

The market is divided into two segments based on the business model: individual and chain. Over the course of the forecast period, the chain business model segment is anticipated to grow quickly at a CAGR. By the end of the forecast year 2030, chain hotel revenue is predicted to increase from US$ 74 billion in 2023 to US$ 178.6 billion. This change indicates that stakeholders in the hotel industry are shifting their investments from individual hotels to chains.

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Hotels Market Key Players:

1. Accor SA
2. Marriott International
3. Hyatt Hotels Corporation
4. Hilton Worldwide Holdings Inc.
5. InterContinental Hotels Group PLC.
6. Best Western International, Inc.
7. Choice Hotels Internationals, Inc.
8. Wyndham Destinations, Inc.
9. Radisson Hospitality A.B.
10.Indian Hotels Company Limited
11.Oravel Stays Private Limited
12.TC Limited
13.EIH Limited
14.Bharat Hotels Limited
15.Lemon Tree Hotels
16.The Leela Palaces

Key questions answered in the Hotels Market are:

  • What is Hotels?
  • What was the Hotels market size in 2023?
  • What is the growth rate of the Hotels Market?
  • Which are the factors expected to drive the Hotels market growth?
  • What are the different segments of the Hotels Market?
  • What growth strategies are the players considering to increase their presence in Hotels?
  • What are the upcoming industry applications and trends for the Hotels Market?
  • What segments are covered in the Hotels Market?
  • Who are the leading companies and what are their portfolios in Hotels Market?
  • What segments are covered in the Hotels Market?
  • Who are the key players in the Hotels market?

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