Hotels Market to Grow at 9.2% CAGR, Reaching USD 1816.88 Billion by 2030

Hotels Market is experiencing substantial growth, driven by rising tourism activities, increasing business travel, and the growing popularity of luxury and boutique hotels. Valued at USD 981.22 Billion in 2023, the market is projected to grow at a CAGR of 9.2% from 2024 to 2030, reaching approximately USD 1816.88 Billion by 2030.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐝𝐚𝐭𝐚 𝐚𝐧𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐯𝐢𝐞𝐰𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 @https://www.maximizemarketresearch.com/request-sample/47478/

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam's hotel industry is flourishing due to a surge in tourism and government initiatives to promote the country as a travel destination. Major hotel chains like 𝐌𝐚𝐫𝐫𝐢𝐨𝐭𝐭 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 and 𝐀𝐜𝐜𝐨𝐫 are expanding their presence by opening new luxury and mid-range properties. Investments in sustainable and eco-friendly hotel projects are also driving market growth.

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand remains a top destination for global tourists, and its hotel market benefits from the rising demand for wellness and resort accommodations. Collaborations between international brands like 𝐈𝐇𝐆 𝐇𝐨𝐭𝐞𝐥𝐬 & 𝐑𝐞𝐬𝐨𝐫𝐭𝐬 and local developers are introducing unique luxury experiences. The government's focus on boosting domestic tourism further supports market expansion.

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

Japan's hotel market is characterized by a strong focus on innovation and luxury offerings. Companies like 𝐇𝐢𝐥𝐭𝐨𝐧 𝐇𝐨𝐭𝐞𝐥𝐬 & 𝐑𝐞𝐬𝐨𝐫𝐭𝐬 and 𝐌𝐢𝐭𝐬𝐮𝐢 𝐅𝐮𝐝𝐨𝐬𝐚𝐧 are investing in properties to cater to the growing influx of tourists. Strategic mergers and acquisitions are enhancing the country's portfolio of boutique and premium hotels.

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐂𝐡𝐢𝐧𝐚

China's hotel market continues to expand with growing demand for business and leisure travel. Companies like 𝐇𝐮𝐚𝐳𝐡𝐮 𝐆𝐫𝐨𝐮𝐩 and 𝐉𝐢𝐧 𝐉𝐢𝐚𝐧𝐠 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 are investing in smart technologies and digital experiences for hotel management. Government initiatives promoting inbound tourism are fueling the development of high-end and budget accommodations.

𝐔𝐧𝐥𝐨𝐜𝐤 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐞𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐯𝐢𝐚 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 @https://www.maximizemarketresearch.com/request-sample/47478/

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea's hotel industry is driven by increasing interest in cultural and K-pop tourism. Companies like 𝐋𝐨𝐭𝐭𝐞 𝐇𝐨𝐭𝐞𝐥𝐬 & 𝐑𝐞𝐬𝐨𝐫𝐭𝐬 are expanding their luxury offerings to cater to international tourists. Partnerships with global brands such as Marriott International are enhancing the diversity of hotel options available in the country.

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore's hotel market benefits from its status as a global business hub and tourist destination. Companies like 𝐌𝐚𝐧𝐝𝐚𝐫𝐢𝐧 𝐎𝐫𝐢𝐞𝐧𝐭𝐚𝐥 and 𝐒𝐡𝐚𝐧𝐠𝐫𝐢-𝐋𝐚 𝐇𝐨𝐭𝐞𝐥𝐬 are introducing innovative luxury stays to attract high-end travelers. Government-backed initiatives for sustainable tourism further enhance growth prospects in this sector.

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬

The United States leads the global hotel market with a strong emphasis on luxury and experiential travel. Major brands like 𝐇𝐢𝐥𝐭𝐨𝐧, 𝐌𝐚𝐫𝐫𝐢𝐨𝐭𝐭, and 𝐇𝐲𝐚𝐭𝐭 are innovating with sustainable design and personalized services. Growth in business travel and domestic tourism is driving demand for mid-range and budget hotels.

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe's hotel market is thriving, driven by a resurgence in tourism and demand for boutique and lifestyle hotels. Key players like 𝐀𝐜𝐜𝐨𝐫, 𝐑𝐚𝐝𝐢𝐬𝐬𝐨𝐧 𝐇𝐨𝐭𝐞𝐥 𝐆𝐫𝐨𝐮𝐩, and 𝐇𝐢𝐥𝐭𝐨𝐧 are expanding their operations through strategic partnerships and acquisitions. EU regulations promoting sustainability are shaping the future of the hotel industry.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

𝐌𝐚𝐫𝐫𝐢𝐨𝐭𝐭 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 announced plans to open new properties in Vietnam and Thailand, focusing on luxury and eco-friendly stays.
𝐇𝐢𝐥𝐭𝐨𝐧 𝐇𝐨𝐭𝐞𝐥𝐬 partnered with a Japanese developer to launch premium hotels ahead of major international events in Japan.
𝐇𝐮𝐚𝐳𝐡𝐮 𝐆𝐫𝐨𝐮𝐩 introduced AI-powered hotel management solutions to improve operational efficiency in China.
𝐀𝐜𝐜𝐨𝐫 expanded its boutique hotel portfolio across Europe through strategic acquisitions.

𝐆𝐞𝐭 𝐚 𝐜𝐥𝐨𝐬𝐞𝐫 𝐥𝐨𝐨𝐤 𝐚𝐭 𝐭𝐡𝐞 𝐠𝐚𝐦𝐞-𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 :https://www.maximizemarketresearch.com/request-sample/47478/

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐛𝐲 𝐇𝐨𝐭𝐞𝐥 𝐓𝐲𝐩𝐞

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

Business/Commercial Hotels, Boutique Hotels, Resort Hotels, Hotels, Transit Hotels, Bed & Breakfast Hotels, and Others are the different market segments. Over the course of the forecast period, the business/commercial hotels segment is anticipated to expand quickly at a CAGR. The primary driver of the business/commercial hotel segment's growth in the global market over the projection period is the growing demand from consumers for these lodging options, which offer numerous advantages to patrons.

𝐛𝐲 𝐏𝐫𝐢𝐜𝐞 𝐋𝐞𝐯𝐞𝐥

Luxury
Upscale
Midscale
Economy

The market is divided into four segments: Economy, Midscale, Upscale, and Luxury. Over the course of the projected period, the luxury category is anticipated to expand quickly at a CAGR. The increase in tourism, increased disposable income, rising living standards, and a growing desire for leisure travel are the main drivers of the luxury market's expansion. These are the main drivers of the global market's expansion throughout the course of the predicted period.

𝐛𝐲 𝐑𝐨𝐨𝐦 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲

Small
Medium
Large
Mega

The market is divided into four segments: Mega, Large, Medium, and Small. By 2030, it is anticipated that the small room capacity segment will hold the biggest market shares. Small hotels are characterized by their small rooms, space-saving architecture, and lower-than-average rates, and they are popping up in major cities all over the world. North America is a favorable place for participants in the hotel industry to invest because small hotels are the trend with the biggest share in this region.

𝐛𝐲 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐌𝐨𝐝𝐞𝐥

Individual
Chain

The market is divided into two categories: individual and chain. Over the course of the forecast period, the chain business model category is anticipated to rise quickly at a CAGR. By the end of the prediction year 2030, chain hotels' revenue is anticipated to have increased from US$ 74 billion in 2023 to US$ 178.6 billion. This change indicates that players in the hotel industry are investing more and switching from independent to chain hotels. Hotel owners are using cutting-edge digital gadgets and software technology to streamline operational procedures for managers by implementing predictable and inexpensive tariffs for guests, as the trend of chains and franchises is becoming more popular in upscale and midscale hotels.

𝐆𝐞𝐭 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬:https://www.maximizemarketresearch.com/market-report/hotels-market/47478/

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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