Hotels Market Set to Double by 2030: Key Growth Drivers Unveiled

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐨𝐢𝐬𝐞𝐝 𝐟𝐨𝐫 𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The global hotels market, valued at USD 981.22 billion in 2023, is projected to reach USD 1,816.88 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 9.2% during the forecast period.

This substantial growth is attributed to the increasing demand for personalized guest experiences, technological advancements, and the expansion of the travel and tourism industry.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧

Hotel companies are increasingly focusing on technological innovations to gain a competitive edge and maximize profits. The adoption of advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), and data analytics enables hotels to enhance guest experiences and operational efficiency. These advancements are creating lucrative opportunities for market growth.

𝐆𝐞𝐭 𝐢𝐧𝐬𝐭𝐚𝐧𝐭 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.maximizemarketresearch.com/request-sample/47478/

𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐇𝐨𝐭𝐞𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

𝙃𝙤𝙩𝙚𝙡𝙨 𝙈𝙖𝙧𝙠𝙚𝙩 𝙂𝙧𝙤𝙬𝙩𝙝 𝙖𝙣𝙙 𝘾𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙑𝙞𝙚𝙩𝙣𝙖𝙢:

Vietnam's mergers and acquisitions (M&A) landscape has seen active participation from foreign investors, particularly from Singapore, Thailand, South Korea, and Japan. Despite a decline in M&A value to an estimated USD 3.5 billion in 2020 due to global factors, the market is expected to recover, with investors confident in Vietnam's resilience post-COVID-19.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒂𝒏𝒅 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑻𝒉𝒂𝒊𝒍𝒂𝒏𝒅:

Thailand's hotel industry continues to attract foreign investments, with a focus on expanding luxury and boutique hotel segments. The country's rich cultural heritage and scenic beauty make it a preferred destination for tourists, driving demand for diverse accommodation options.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒂𝒏𝒅 𝑼𝒑𝒅𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑱𝒂𝒑𝒂𝒏:

In September 2024, private equity group Fortress agreed to a $100 million deal to acquire Japan's oldest hot springs resort, Spa Resort Hawaiians. This acquisition includes plans for a $70 million investment to enhance the resort's appeal, reflecting a trend of foreign takeovers in Japan's hospitality sector.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑺𝒐𝒖𝒕𝒉 𝑲𝒐𝒓𝒆𝒂: 𝑻𝒓𝒆𝒏𝒅𝒔 𝒂𝒏𝒅 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔

South Korea's hotel industry is experiencing growth due to increasing inbound tourism and a rise in domestic travel. Investments are being made in smart hospitality solutions to cater to tech-savvy travelers, enhancing guest satisfaction and operational efficiency.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑪𝒐𝒏𝒔𝒐𝒍𝒊𝒅𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝑺𝒊𝒏𝒈𝒂𝒑𝒐𝒓𝒆:

Singapore-based 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞 𝐇𝐨𝐭𝐞𝐥𝐬 𝐆𝐫𝐨𝐮𝐩 has been actively expanding its portfolio, investing over $500 million in hotel acquisitions, including the 542-key Parkroyal on Kitchener Road Singapore for $388 million. This strategic expansion underscores Singapore's role as a significant player in the regional hospitality market.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒏𝒊𝒕𝒆𝒅 𝑺𝒕𝒂𝒕𝒆𝒔: 𝑮𝒓𝒐𝒘𝒕𝒉 𝒂𝒏𝒅 𝑻𝒓𝒆𝒏𝒅𝒔

The U.S. hotel industry is witnessing a surge in mergers and acquisitions, with significant deals reshaping the market landscape. For instance, 𝐄𝐥𝐝𝐨𝐫𝐚𝐝𝐨 𝐑𝐞𝐬𝐨𝐫𝐭𝐬 announced its intention to acquire 𝐂𝐚𝐞𝐬𝐚𝐫𝐬 𝐄𝐧𝐭𝐞𝐫𝐭𝐚𝐢𝐧𝐦𝐞𝐧𝐭 for $8.6 billion, marking one of the largest deals in the sector.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒂𝒏𝒅 𝑬𝒙𝒑𝒂𝒏𝒔𝒊𝒐𝒏 𝒊𝒏 𝑪𝒉𝒊𝒏𝒂:

China's reopening has positively impacted hotel investments in the Asia-Pacific region. Total hotel transaction volume reached $10.1 billion, with forecasts of $11.5 billion, indicating strong investor confidence in markets popular with Chinese tourists.

𝑯𝒐𝒕𝒆𝒍𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒂𝒏𝒅 𝑪𝒐𝒏𝒔𝒐𝒍𝒊𝒅𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑬𝒖𝒓𝒐𝒑𝒆:

In 2024, the European hotel sector experienced heightened M&A activity, with 𝐁𝐥𝐚𝐜𝐤𝐬𝐭𝐨𝐧𝐞 investing over €500 million in hotels across southern Europe, including the €235 million acquisition of the Grand Hyatt Athens. This trend reflects the region's strong long-term investment fundamentals.

𝐓𝐨 𝐟𝐢𝐧𝐝 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐯𝐢𝐬𝐢𝐭: https://www.maximizemarketresearch.com/request-sample/47478/

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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 hotel types that make up the market. 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 based on price level: luxury, upscale, midscale, and economy. The luxury segment is anticipated to grow at a compound annual growth rate (CAGR) during the forecast period, driven by factors such as rising disposable income, rising tourism, rising people's standard of living, and an increase in the desire for leisure travel. These factors are the main drivers of the global market's growth during the forecast period.

𝙗𝙮 𝙍𝙤𝙤𝙢 𝘾𝙖𝙥𝙖𝙘𝙞𝙩𝙮

Small
Medium
Large
Mega

Based on the Room Capacity, the market is categorised into Small, Medium, Large, and Mega. Small room capacity category is predicted to have the biggest market shares by 2030. Small hotels are characterised by their small rooms, space-saving design, and lower-than-average rates, and they are popping up in major cities all over the world. North America is a favourable place for players in the hotel industry to invest because small hotels are the trend with the largest share in this region. The number of millennial travellers is increasing who required hotel stays for short-period with high-quality furnishings and large number of amenities, these requirements can be fulfilled by small hotels. Developments in the hospitality industry are mainly dominated by the launches of new hotels in high-demand urban locations.

𝙗𝙮 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙈𝙤𝙙𝙚𝙡

Individual
Chain

The market is divided into two segments based on the business model: individual and chain. Over the course of the forecast period, the chain business model segment is anticipated to expand 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. Hotel owners are attempting to provide comprehensive solutions.

𝗧𝗼 𝗱𝗲𝗹𝘃𝗲 𝗱𝗲𝗲𝗽𝗲𝗿 𝗶𝗻𝘁𝗼 𝘁𝗵𝗶𝘀 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵, 𝗸𝗶𝗻𝗱𝗹𝘆 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗹𝗶𝗻𝗸: https://www.maximizemarketresearch.com/request-sample/47478/

𝐇𝐨𝐭𝐞𝐥𝐬 𝐌𝐚𝐫𝐤𝐞𝐭, 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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