Strategic Forecast for the Hospitality Buildings Industry: Market Outlook 2025-2034

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What Will the Hospitality Buildings Industry Market Size Be by 2025?
There has been a consistent increase in the market size of hospitality buildings in the preceding years. The market value is predicted to rise from $81.62 billion in 2024 to $85.57 billion in 2025, experiencing a compound annual growth rate (CAGR) of 4.8%. Factors contributing to this growth during the historical timeframe include economic development and changing travel patterns, the effect of globalization and international tourism, the advancement of urbanization and population increase, shifts in culture and lifestyle, and the emergence of boutique and unique accommodations.

What's the Long-Term Growth Forecast for the Hospitality Buildings Market Size Through 2029?
The market size of hospitality buildings is projected to experience consistent expansion in the coming years. The growth trajectory predicts it will reach a value of $103.44 billion by 2029 with a compound annual growth rate (CAGR) of 4.9%. This projected growth into the forecast period can be associated with factors such as sustainable and eco-friendly practices, health and safety provisions, resilience during crises and flexibility, design inclusivity for addressing diverse traveler considerations, and practices emphasizing regenerative tourism. Key trends affecting growth during the forecast period are anticipated to be the integration of technology for enhanced guest experience, technological progression in guest services, the incorporation of touchless technology, amenities centered around wellness, and rooms which are both flexible and adaptive.

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What Are the Key Growth Drivers Fueling the Hospitality Buildings Market Expansion?
The rapid expansion of the travel and tourism industry is set to fuel the development of the hospitality buildings sector. The industry in question caters to travelers by offering the products and services they require. An increase in tourism activity can spur business, improve sales and elevate profit margins for enterprises, positively affecting the financial health of hospitality companies. Hospitality buildings, which provide amenities such as meals, short-term accommodation, and a range of services to travelers and tourists, are pivotal to the travel and tourism sector. Therefore, an upswing in the number of travelers and tourists will trigger an increase in the construction of such buildings. For example, a report by the US-based Coldwell Banker Richard Ellis (CBRE) Group, a commercial real estate services and investment company, in February 2023 indicated that in Q4 2022, all aspects of hotel real estate fundamentals reported a yearly surge. Demand, occupancy, revenue per available room (RevPAR), and the average daily rate (ADR) increased by 3.6%, 3.6%, 16.2%, and 12.1%, respectively. In addition, in March 2023, the Civil Aviation Authority, a legal body based in the UK, reported a substantial surge in UK air travel in 2022, with over 224 million passengers journeying to and from airports in the UK. A 30% and 18% rise in corporate (GDS) and group booking rates respectively contributed to the overall growth in booking rates, which rose about 4% relative to the previous year. As a result, the accelerated expansion of the travel and tourism industry is pushing the growth of the hospitality buildings sector.

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What Are the Key Trends Driving Hospitality Buildings Market Growth?
The growing interest in product innovations is a notable trend in the hospitality buildings market. To solidify their market standing, leading players are focusing their energies on inventing novel building designs. To illustrate, Volumetric Building Companies, a US firm specializing in modular housing, marked the start of 2023 by releasing the initial modular prototype of a novel hotel architecture. This innovation is set to expedite the expansion of the Fairfield by Marriott brand across Europe. The incorporation of this groundbreaking modular technology will enable developers to tackle their challenges, by speeding up construction, enhancing acoustics through minimized noise transfer between modules, and elevating quality.

How Is the Hospitality Buildings Market Segmented?
The hospitality buildings market covered in this report is segmented -

1) By Hotel Type: Business Or Commercial Hotels, Boutique Hotels, Resort Hotels, casino* Hotels, Transit Hotels, Bed And Breakfast Hotels, Other Types
2) By Price Level: Luxury, Upscale, Midscale, Economy
3) By Room Capacity: Small, Medium, Large, Mega
4) By Business Model: Individual, Chain

Subsegments:
1) By Business Or Commercial Hotels: Full-Service Hotels, Limited-Service Hotels
2) By Boutique Hotels: Luxury Boutique Hotels, Economy Boutique Hotels
3) By Resort Hotels: Beach Resorts, Mountain Resorts, Spa Resorts
4) By casino* Hotels: Integrated casino* Resorts, Standalone casino* Hotels
5) By Transit Hotels: Airport Hotels, Train Station Hotels
6) By Bed And Breakfast Hotels: Traditional, Modern
7) By Other Types: Extended Stay Hotels, Hostels, Vacation Rentals

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Which Companies Are Leading the Charge in Hospitality Buildings Market Innovation?
Major companies operating in the hospitality buildings market include Turner Construction Company, AECOM, Balfour Beatty Construction, STO Building Group, The Whiting-Turner Contracting Company, Gilbane Building Company, JE Dunn Construction Group, Hensel Phelps Construction Company, DPR Construction Inc., HITT Contracting Inc., Brasfield & Gorrie LLC, Clark Construction Group LLC, Mortenson Inc., PCL Constructors Inc., McCarthy Holdings Inc., Suffolk Construction Company, The Yates Companies, Gray Construction Inc., Robins & Morton Inc., Sundt Construction Inc., Swinerton, W.E. O'Neil Construction Co., Hoffman Construction Company, Messer Construction Company, Skanska USA Civil Inc., The Beck Group Inc., Pepper Construction Company, Webcor Builders LLC, Layton Construction Company LLC, Clayco Inc., Hoar Construction LLC, Weis Builders Inc.

Which Regions Are Leading the Global Hospitality Buildings Market in Revenue?
North America was the largest region in the hospitality buildings market in 2024. The regions covered in the hospitality buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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