Press release
Pet Friendly Hotel Market Report, Size, Share, Growth, Trends, Competitive Landscape, Forecast to 2033
Pet Friendly Hotel Market
The new report published by The Business Research Company, titled Pet Friendly Hotel Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the pet friendly hotel market size has grown rapidly in recent years. It will grow from $3.66 billion in 2023 to $4.10 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The pet friendly hotel market size is expected to see rapid growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.
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What Is Driving The Growth Of The Global Pet Friendly Hotel Market?
The Impact Of Rising Pet Ownership On The Pet-Friendly Hotel Market
The increasing pet ownership is expected to propel the growth of the pet-friendly hotel market going forward. Pet ownership refers to having an animal, typically a domesticated species, under one's care and responsibility for companionship, work, or recreational purposes. The increase in pet ownership can be attributed to several factors, such as social trends, urbanization, and a rise in the number of young adults delaying parenthood. Pet-friendly hotels support pet ownership by making it easier, more enjoyable, and less stressful to travel with pets, enhancing the bond between pets and their owners, and promoting a pet-inclusive lifestyle. For instance, in June 2021, according to The American Pet Products Association (APPA), a US-based trade organization for the pet industry, during 2021-2022, pet ownership increased from an estimated 67% of U.S. households that own a pet to an estimated 70%. Therefore, increasing pet ownership drives the pet-friendly hotel market.
What Is The Key Trend In The Global Pet Friendly Hotel Market?
Leading Hotels Innovate With Enhanced Pet-Friendly Packages To Attract And Delight Pet-Owning Travelers
Major companies operating in the pet-friendly hotel market are focusing on offering innovative services, such as pet-friendly packages, to attract more pet-owning travelers, improve the overall guest experience, and differentiate themselves in a competitive market. The pet-friendly packages aim to provide a range of healthy food and drink options specifically designed for canine guests and their owners. They typically include specialized pet amenities, such as custom pet beds, gourmet pet food, and pet-sitting services. For instance, in April 2024, Moxy Hotels, a US-based hospitality company, partnered with Sir Woofchester's Canine Hospitality, a UK-based hospitality company, to introduce new enhanced dog-friendly packages across its hotels. These packages feature unique offerings such as dog welcome kits with treats and toys and access to pet-friendly communal spaces. This trend underscores the growing emphasis on creating comprehensive, pet-inclusive experiences to attract and retain pet-owning travelers, reflecting broader shifts in consumer behavior towards integrating pets into their lifestyles.
How Is The Global Pet Friendly Hotel Market Segmented?
The pet friendly hotel market covered in this report is segmented -
1) By Type: Luxury Hotel, Normal Hotel
2) By Booking: Offline, Phone, Online
3) By Application: Pet Cat, Pet Dog, Other Applications
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How Is The Competitive Landscape Of The Global Pet Friendly Hotel Market?
Major companies operating in the pet friendly hotel market are Marriott International, Loews Hotels , PetSmart Inc., Hilton Worldwide Holdings Inc., Fairmont Hotels & Resorts, Hyatt Hotels Corporation, InterContinental Hotels Group, Wyndham Hotels & Resorts, Montage Hotels & Resorts, Red Roof Inn , Auberge Resorts Collection, The Hoxton , Langham Hospitality Group, Le Bristol Paris, Oetker Collection, Best Friend Pet Care, Dusit International , Barkley Pet Hotel & Day Spa, Eden Roc Cap Cana , Old Towne Pet Resort LLC, Inn By The Sea
Contents Of The Global Pet Friendly Hotel Market
1. Executive Summary
2. Pet Friendly Hotel Market Report Structure
3. Pet Friendly Hotel Market Trends And Strategies
4. Pet Friendly Hotel Market - Macro Economic Scenario
5. Pet Friendly Hotel Market Size And Growth
…..
27. Pet Friendly Hotel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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