The hotels market is projected to grow at a compound annual growth rate (CAGR) of 9.2% from its 2023 valuation of USD 981.22 billion to USD 1816.88 billion by 2030.
Hotels Market Overview
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Hotels Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Hotels market, with forecasts outspreading to the year 2030.
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Hotels Market Scope and Methodology:
The research provides a thorough understanding of the Hotels industry, highlights major competitors and their market positioning, and provides an overview of the competitive landscape. It also talks about recent product developments and market trends in technology. For the benefit of businesses, newcomers, and industry participants in the Hotels market, comprehensive data on revenue, sales volume, and average pricing is accessible for the whole Hotels market and its segments. The examination of the Hotels industry reveals current patterns impacting growth and prospects.
Both qualitative and quantitative research are included in the study, with an emphasis on pattern identification, data interpretation, and perceptive observations. A hierarchical method is used to analyse the strategies of leading businesses in the Hotels industry, taking into account different market segments and geographical areas. Details on import/export activities, market trends, costs, and pricing are also included in the study.
Hotels Market Regional Insights
The Hotels market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific, according to regional analysis. Several areas are home to nations such as the United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, China, India, Japan, Australia, and South Korea.
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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
Business/Commercial Hotels, Boutique Hotels, Resort Hotels, Casino Hotels, Transit Hotels, Bed Breakfast Hotels, and Others are the different market segments. Over the course of the projected period, the business/commercial hotels segment is anticipated to expand quickly at a CAGR of xx%. The primary driver of the business/commercial hotel segment's growth in the global market over the projection period is the growing demand from consumers for these lodging options, which offer numerous advantages to patrons.
by Price Level
Luxury
Upscale
Midscale
Economy
The increase in tourism, increased disposable income, rising living standards, and a growing desire for leisure travel are the main drivers of the luxury market's expansion. These are the main drivers of the global market's expansion throughout the course of the predicted period.
by Room Capacity
Small
Medium
Large
Mega
North America is a favorable place for participants in the hotel industry to invest because small hotels are the trend with the biggest share in this region. Small hotels are able to meet the needs of the growing number of millennial travelers who need short-term hotel stays with luxurious interiors and lots of services. The opening of new hotels in in-demand urban areas dominates developments in the hospitality sector. The main players are concentrating on growing their businesses to include guest rooms in the heart of cities. During the projection period, these are the main factors propelling the growth of the small room capacity segment in the global market.
by Business Model
Individual
Chain
By the end of the prediction year 2030, chain hotels' revenue is anticipated to have increased from US$ 74 billion in 2023 to US$ 178.6 billion. This change indicates that players in the hotel industry are investing more and switching from independent to chain hotels. Hotel owners are using cutting-edge digital gadgets and software technology to streamline operational procedures for managers by implementing predictable and inexpensive tariffs for guests, as the trend of chains and franchises is becoming more popular in upscale and midscale hotels.
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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
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Table of Content: Hotels Market
Part 01: Executive Summary
Part 02: Scope of the Hotels Market Report
Part 03: Global Hotels Market Landscape
Part 04: Global Hotels Market Sizing
Part 05: Global Hotels Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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 is the fastest-growing region in the Hotels market?
- Which are the factors expected to drive the Hotels market growth?
- What is the CAGR at which the Hotels market will grow during the forecast period?
- What growth strategies are the players considering to increase their presence in Hotels ?
- What are the upcoming opportunities and trends for the Hotels Market?
- What are the different segments of the Hotels Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Hotels Market?
- What segments are covered in the Hotels Market?
- Who are the key players in the Hotels market?
- Who are the leading companies and what are their portfolios in Hotels Market?
Related Reports:
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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