Hotels Market Overview Development Trend, Chain Suppliers, Key Players Analysis and Forecast to 2029

The Hotels Market Report's In-Depth Study And Methodology :

The comprehensive Hotels market report details various applications and key strategies employed within the market, analyzing driving and restraining factors, market trends, volume, cost, share, supply and demand, and product analysis. The report combines qualitative and quantitative data sourced from primary research, free and paid databases, surveys, Google forms, and more. Rigorous examination utilizing tools like SWOT and PESTLE analysis enables deeper insights into the Hotels market dynamics and outlook.

The Estimated Growth of Hotels Market :

Hotels Market was valued at USD 898.56 Billion in 2022, and it is expected to reach USD 1663.82 Billion by 2029, exhibiting a CAGR of 9.2% during the forecast period.

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Dynamics

Hotel Companies Seeking to Boost Profit and Get a Competitive Edge through Technological Innovations: In the hotel industry, "business as usual" is a concept that is rapidly evolving. Although "cookie-cutter" and generic services used to be adequate, this is no longer the case. More individualized options are what guests are expecting in order for hotels to meet their individual needs. In addition, the growth of the online community suggests intense competition. In order to keep devoted guests, hotels must make use of all the resources and procedures at their disposal. Hotel technology is already having a significant impact, and in the years to come, this influence is only expected to increase. Now, let's look at eleven fascinating upcoming hotel technology developments in the hospitality industry.

A Major Factor in the Travel and Tourism Industry's Exponential Growth: Growing economies, rising consumer spending power, technological advancements, and rising internet usage all contribute to the travel and tourism sector's expansion, which in turn propels the world hotel market. In recent years, there has been a significant increase in the number of people traveling the world, both domestically and internationally. It is projected that during the forecast period, this trend will continue to grow, increasing the frequency of hotel bookings for both business and tourism purposes. This will ultimately lead to higher occupancy rates. Although the U.S. is one of the largest hotel markets in the world, the China hotel market is predicted to expand quickly during the forecast period.

Social media influence and digital guest experiences: Digital marketing has long been used to connect with travelers, but its acceptance is beginning to grow. More than ever, customers are interacting with digital experiences, and they are coming to expect interactions via digital channels. In particular, applications are growing in popularity, and hotels can use them in a variety of ways to manage their interactions with both current and prospective visitors.

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Hotels Market Divisibility :

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, hotels, transit hotels, bed and breakfast hotels, and others depending on the type of hotel. During the forecast period, the business/commercial hotel segment is anticipated to grow at a CAGR of. The primary driver of the growth 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 their 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 quickly over the projection period, with a CAGR of. Growing tourism, rising disposable income, rising living standards, and a growing propensity for leisure travel are the factors propelling the growth of the luxury market. Throughout the forecast period, these are the main drivers of the global market's growth.

by Room Capacity

Small
Medium
Large
Mega

by Business Model

Individual
Chain

The market is divided into two segments based on the business model: individual and chain. Over the forecast period, the chain business model segment is anticipated to grow at a CAGR of. By the end of the forecast year 2029, chain hotel revenue is predicted to increase from US$ 74 billion in 2021 to US$ 178.6 billion. This change indicates that players in the hotel industry are shifting their investments from independent hotels to chains. Since chains and franchises are becoming more and more popular in upscale and midscale hotels, hotel owners are using cutting-edge software and innovative digital devices to streamline operational procedures for managers and offer customers predictable and affordable tariffs. Hotel operators are attempting to develop comprehensive solutions .

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Hotels Market-Related Perspectives

A regional analysis in the Hotels market research report offers insights into geographic variations within the Hotels market. This analysis typically includes a precise examination of market trends, competitive landscapes, consumer behavior, and regulatory environments in each region.

Hotels Market Principal Entities :

Key players within the Hotels market are thoroughly analyzed in the report.

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

Section Heading: Hotels Industry

Part 01: Executive Summary

Part 02: Scope of the Hotels Market Report

Part 03: Hotels Market Landscape

Part 04: Hotels Market Sizing

Part 05: 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

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Key Offerings:

Historical 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 Segments | 2023-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - Detailed Analysis by Segment with Sub-segments and Region
Competitive Landscape - Profiles of Selected Key Players by Region from a Strategic Perspective
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
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