Beach Hotels Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast

"The Business Research Company recently released a comprehensive report on the Global Beach Hotels Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The beach hotels market size has grown steadily in recent years. It will grow from $149.81 billion in 2023 to $156.78 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to tourism and travel trends, adventure and water activities, government funding and initiatives worldwide to promote the tourism industry, seasonal demand, and cultural and recreational activities.

The beach hotels market size is expected to see strong growth in the next few years. It will grow to $191.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rising global tourism, increase of beachfront development, growing trend of beach holidays, increasing demand for luxury beach resorts, and rising trend of destination wedding. Major trends in the forecast period include technological improvements, changing consumer tastes, trend of sustainability and eco-tourism, diverse accommodation options, and online booking incentives.

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Market Drivers and Trends:

The rising tourism is expected to propel the growth of the beach hotels market going forward. Tourism is traveling for pleasure, recreation, or business purposes, typically involving staying in places away from one's usual environment. It encompasses a wide range of activities and services to meet travelers' needs and interests. The rise in tourism is due to increasing disposable incomes, improved transportation infrastructure, and the growing desire for new experiences and cultural exploration. Beach hotels bolster the tourism industry by attracting visitors, creating local jobs, supporting businesses, enhancing infrastructure, promoting cultural exchange, and driving sustainable tourism. For instance, in 2024, according to the World Travel and Tourism Council, a UK-based non-profit organization, the travel and tourism sector contributed 9.1% of the global GDP in 2023, marking a 23.2% increase from 2022. Therefore, the rising global tourism is driving the beach hotels market.

Major companies operating in the beach hotels market are focusing on technological improvements in hotel areas, such as space renovation with 3D mapping technology, to enhance the guest experience and optimize operational efficiencies. 3D mapping technology enables hotels to create detailed virtual tours for guests, enhance space management, optimize event planning, and improve maintenance operations through precise spatial data. For instance, in September 2023, W South Beach, a US-based luxury hotel, launched its $6 million ballroom and meeting space renovation. The space features cutting-edge 360 projection technology, which can recreate any ambiance or experience, ranging from an immersive underwater world to the skyline of any global city, heralding a new standard in exceptional events and experiences. Utilizing 3D-mapping technology, the 4,300-square-foot ballroom is transformed with storytelling, visual effects, and precise audio-visual integration. This innovative setup offers guests a mesmerizing journey akin to the renowned L'Atelier des Lumières in Paris.

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Major Key Players of the Market:

Marriott International Inc., Radisson Hotel Group, Rosewood Hotels and Resorts LLC, Hilton Worldwide Holdings Inc., ITC Limited, Hyatt Hotels Corporation, Four Seasons Holdings Inc., InterContinental Hotels Group PLC, Accor S.A., Shangri-La International Hotel Management Limited, Jumeirah International LLC, Wyndham Hotels & Resorts Inc., Belmond Ltd., Mandarin Oriental Hotel Group Limited, Soneva Group, Montage International, Royal Cliff Hotels Group, The Oberoi Group, The Indian Hotels Company Limited, Barcelo Hotel Group, Laguna Beach House, Casa Laguna Hotel & Spa., Sunset Key Guest Cottages, Capri Laguna, Jade Mountain Resort

Beach Hotels Market 2024 Key Insights:

• The beach hotels market size is expected to see strong growth in the next few years. It will grow to $191.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• The Impact Of Rising Global Tourism On The Growth Of The Beach Hotels Market
• Beach Hotels Elevate Events With Cutting-Edge 3D Mapping Technology
• North America was the largest region in the beach hotels market in 2023

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