Floating Hotels Market Trend, Demand And Industry Analysis 2024-2033

The Business Research Company recently released a comprehensive report on the Global Floating 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 floating hotels market size has grown strongly in recent years. It will grow from $4.52 billion in 2023 to $4.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to novelty and uniqueness, tourism growth, urban development, event hosting, environmental considerations.

The floating hotels market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to experiential travel demand, luxury and high-end market growth, coastal and island tourism, remote work and stay, infrastructure development. Major trends in the forecast period include sustainability emphasis, technological integration, modularity and adaptability, health and wellness offerings, cultural immersion.

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Market Drivers and Trends:

The increasing demand for cruise tourism is expected to propel the growth of the floating hotels market going forward. Cruise tourism refers to the industry and practice of traveling on cruise ships for leisure, recreation, and tourism purposes. Floating hotels are a unique and exciting concept for cruise tourism, offering a range of benefits and possibilities, such as extended stay accommodation, expedition base camps, and event venues. For instance, in May 2023, according to Tourism Review Media, a UK-based travel and tourism news portal, in Turkey, 1,500 cruise ships and over 1.5 million passengers traveled in 2023, and cruise passengers are expected to reach 2.3 million in 2024. Therefore, increasing demand for cruise tourism is driving the growth of the floating hotels market.

Solar-powered floating hotels have emerged as a key trend gaining popularity in the floating hotels market. Solar-powered floating hotels are accommodation entirely powered by solar energy and float on the water's surface. Major companies operating in the floating hotels market are focused on developing innovative solar-powered hotels to sustain their position in the market. For instance, in 2021, Mantis Collection., a South Africa-based property management company, launched the Kivu Queen uBuranga, a solar-powered, motorized yacht floating hotel. It has advanced waste management and heating systems, making it a sustainable and environmentally friendly option for travelers. It includes three decks, ten cabins, a swimming pool, a hot tub, a wellness center, a restaurant, and a bar. It offers six luxury cabins, two deluxe, one VIP, and one presidential cabin.

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Major Key Players of the Market:

Marriott International Inc., Hilton Worldwide Holdings Inc., Four Seasons Hotels Ltd., Accor Group, The Ascott Limited, Karisma Hotels & Resorts, COMO Hotels and Resorts Pte. Ltd., Indian Hotels Company Limited, Ginger Hotels, Alila Hotels And Resorts Pte. Ltd., The Queen Mary, Aqua Expeditions Pte. Ltd., Montreal Alouettes, King Pacific Lodge, Huvafen Fushi, Archello BV, The Manta Resort, Poovar Island Resort, Sunborn London, SeaVentures Inc., Fregate Island Private, Oberoi Hotels & Resorts, Salt & Sill, Off Paris Seine, Pangu 7 Star Hotel Beijing

Floating Hotels Market 2024 Key Insights:

• The floating hotels market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Floating Hotels Market Surges With Increasing Demand For Cruise Tourism
• Rise Of Solar-Powered Floating Hotels As A Key Trend In The Market
• North America was the largest region in the floating hotels market in 2023

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