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.
Hotels Market Scope and Methodology:
The market research report Hotels provides comprehensive details on important factors, including those anticipated to drive the industry's growth and impending obstacles. Stakeholders will have a solid understanding of the investment potential in the Hotels market, the industry's competitive environment, and the products pushed by well-known brands. The research examines the sector's qualitative and quantitative aspects. Part of what the MMR probe looks into is a thorough analysis of the competition for the Hotels Market.
A lengthy list of needs is included in the study, along with a detailed explanation for each. When creating the Hotels Market, a wide range of primary and secondary information sources were taken into account, including official government documents, websites, annual reports, and expert and professional comments.
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Hotels Market Regional Insights
In this report, the market size, growth rate, import and export by region, and other pertinent facts are all carefully examined. It is simple to comprehend the Hotels market conditions in various nations thanks to the research's regional analysis. The Hotels market is composed of markets in North America, Europe, South America, Asia Pacific, and the Middle East.
Hotels Market Segmentation
by Hotel Type
Business/ Commercial Hotels
Boutique Hotels
Resort Hotels
Casino Hotels
Transit Hotels
Bed & Breakfast Hotels
Others
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
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 provide guest accommodations 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
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. By giving hotel managers as much authority as possible, hotel owners are attempting to develop end-to-end solutions that will increase income. Throughout the projection period, these are the main factors propelling the chain business model segment's expansion in the global market.
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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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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 is the CAGR at which the Hotels market will grow during the forecast period?
- What are the different segments of the Hotels Market?
- Which is the fastest growing region in the Hotelsmarket?
- 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 recent industry trends that can be implemented to generate additional revenue streams for 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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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
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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