Hotels Market was valued at USD 898.56 Billion in 2022, expected to reach USD 1663.82 Billion by 2029, exhibiting a CAGR of 9.2%

Hotels Market Report Scope and Research Methodology:

The scope of the report encompasses a thorough analysis of various aspects influencing the Hotels Market, including market environment, government policies, historical data, technological innovation, upcoming technologies, and market risks. The research methodology relies on both primary and secondary data sources to ensure accurate and reliable information.

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Hotels Market Dynamics:

The report highlights several driving forces behind the growth of the Hotels Market. Technological innovations, including smart hotel technology, sustainable hotels, mobile bookings, and virtual reality, are transforming the hotel industry. Additionally, the exponential growth of the travel and tourism industry, rising consumer purchasing power, and increased internet usage are key drivers of market expansion.

The report emphasizes the changing landscape of the hotel sector, with hotel companies focusing on technological innovations to enhance guest experiences and gain a competitive advantage. The adoption of AI, machine learning, and advanced pricing strategies are becoming integral to the industry's success.

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Hotels Market Regional Insight:

The North American region led the market in 2022 and is projected to continue dominating with a significant revenue share by 2029. Europe is expected to experience strong growth, driven by its popularity among international tourists. Asia Pacific is also set to play a crucial role in the hotel industry due to rising disposable income and increased business travel.

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Hotels Market Segmentation:

by Hotel Type

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

The market is divided into Business/Commercial Hotels, Boutique Hotels, Resort Hotels, Transit Hotels, Bed & Breakfast Hotels, and Other Hotels based on the kind of hotel. The market for business/commercial hotels is anticipated to expand quickly at a CAGR during the projection period. The primary driver of the expansion of the business/commercial hotels sector in the global market during the forecast period is an increasing consumer demand for these accommodations due to the numerous benefits they offer to guests.

by Price Level

Luxury
Upscale
Midscale
Economy

The market is divided into four categories: Luxury, Upscale, Midscale, and Economy. During the projected period, the luxury segment is anticipated to expand quickly at a CAGR. The causes that fuel the expansion of the luxury segment are an uptick in tourism, an increase in disposable income, a rise in the average person's level of life, and a rise in the propensity for leisure travel. These are the main elements that will fuel the expansion of the world market in the next years.

by Room Capacity

Small
Medium
Large
Mega

The market is divided into four categories based on room capacity: small, medium, large, and mega. By 2029, the small room capacity segment is anticipated to command the biggest market shares. Small hotels are distinguishable by their condensed rooms, space-saving architecture, and lower than normal rates while mushrooming in major metropolitan regions all over the world. North America has the highest share of small hotels in the world, making it an attractive investment location for the hotel industry.

by Business Model

Individual
Chain

The market is divided into Individual and Chain segments depending on the business model. During the projected period, the chain business model segment is anticipated to expand quickly at a CAGR. By the end of the prediction year 2029, chain hotels' revenue is anticipated to increase from US$ 74 billion in 2021 to US$ 178.6 billion. This change demonstrates how players are shifting their investments from independent hotels to chain hotels in the hotel business.

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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 for the Hotels Market includes:
1. Global Hotels Market: Research Methodology
1. Global Hotels Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
1. 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
1. Global Hotels Market Segmentation
• Global Hotels Market, by Hotel Type (2022-2029)
• Global Hotels Market, by Price Level (2022-2029)
• Global Hotels Market, by Room Capacity (2022-2029)
• Global Hotels Market, by Business Model (2022-2029)
1. Regional Hotels Market(2022-2029)
• Regional Hotels Market, by Hotel Type (2022-2029)
• Regional Hotels Market, by Price Level (2022-2029)
• Regional Hotels Market, by Room Capacity (2022-2029)
• Regional Hotels Market, by Business Model (2022-2029)
• Regional Hotels Market, by Country (2022-2029)
1. 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 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• 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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