Hotels Market to reach USD 1663.82 Bn by 2029, Technological Advancements result in Competitive Edge for growth

Pune 23, Feb 2023: The total global market for the "Hotels Market" was valued at USD 822.86 Bn in 2021 and is expected to significantly grow at a CAGR of 9.2 percent over the forecast period to reach USD 1663.82 Bn by 2029. Maximize Market Research, a Consumer Goods & Services international business firm, has recently published a report, available in the market.

Hotels Market Report Scope and Research Methodology

The global Hotels Market provides an analysis of top key players and their business strategies, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost analysis. The report provides the market's current size, trend, market growth, and forecast during the period and revenue in US dollars. The Hotels Market analysis is by the supply side and considered the Hotels Market penetration of the market for all the regions globally in the report. The report covers the current market trends, opportunities, future potential of the Hotels Market, and competition in the Hotels.

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The report also provides market insights and analysis of Hotels, current and upcoming technological market trends, industry dynamics, adoption rate and competitive analysis of key players in the industry. The market dynamics including the drivers, restraints, trends, and opportunities of the market cover in the Hotels Market. Some industrial tools was used like SWOT, PESTLE, and Porter's Five Forces for deep analysis of the market and the bottom-up approach was used to estimate the Hotels Market size.

Technological advancements and premium features attract customers to drive Hotels Market growth

The Hotels Market is driven by growing consumer purchasing ability, digital innovation, economic development, and digital innovation. Technological advancements and other premium services are expected to drive the Hotels Market growth during the forecast period. Advanced machine learning and AI tools like innovative technicalities are driving the Hotels Market growth.

Based on hotel type, the business/commercial segment held the highest market share in 2021 and is expected to grow significantly during the forecast period. Business/commercial hotels providing beneficial services to the customers is a major factor to drive Hotels market growth. The traveling population growing at national and international level and digital marketing are expected to drive global hotel market growth.

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North America held the largest Hotels Market share in 2021 and is expected to significantly grow during the forecast period

North America dominated the largest market share in 2021 and is expected to grow significantly during the forecast period. In this region, the Hotels Market is driven by high investment and expansion of micro hotels in urban cities, the major presence of American multinational smart hospitality company Marriott International establish and launched a chain of Moxy hotels in the Southeastern U.S. is expected to drive the Hotels Market growth.

Hotels Market Segmentation

By Hotel Type:

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

By Price Level:

Luxury
Upscale
Midscale
Economy

By Room Capacity:

Small
Medium
Large
Mega

By Business Model:

Individual
Chain

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Hotels Market Key Players include:

Accor SA
Marriott International
Hyatt Hotels Corporation
Hilton Worldwide Holdings Inc.
InterContinental Hotels Group PLC.
Best Western International, Inc.
Choice Hotels Internationals, Inc.
Wyndham Destinations, Inc.
Radisson Hospitality A.B.
Indian Hotels Company Limited
Oravel Stays Private Limited
TC Limited
EIH Limited
Bharat Hotels Limited
Lemon Tree Hotels
The Leela Palaces

Table of content for the Global Hotels Market includes:

Global Hotels Market: Research Methodology

Global Hotels Market: Executive Summary
Market Overview and Definitions
Introduction to Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry

Global Hotels Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact

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Global Hotels Market Segmentation
Global Market, by Hotel Type (2021-2029)
Global Market, by Price Level (2021-2029)
Global Market, by Room Capacity (2021-2029)
Global Market, by Business Model (2021-2029)

Regional Global Hotels Market (2021-2029)
Regional Market, by Hotel Type (2021-2029)
Regional Market, by Price Level (2021-2029)
Regional Market, by Room Capacity (2021-2029)
Regional Market, by Business Model (2021-2029)
Regional Market, by Country (2021-2029)

Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Hotel Type, Price Level, Room Capacity, Business Model 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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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 Industries, 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 Type estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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