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Pet Friendly Hotel Market Expansion Continues, with Forecast Valuation of $7.34 Billion by 2029
Pet Friendly Hotel Market
Pet Friendly Hotel Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for hotels that accommodate pets has seen a swift expansion in recent years. The value of this market is set to increase from $4.1 billion in 2024 to a projected $4.62 billion in 2025, marking a compound annual growth rate (CAGR) of 12.7%. The substantial growth during the historic period is due to factors including a surge in requirements for lodgings that include pets, the rise of social media platforms, an increase in pet adoption rates, elevated activity by travel agencies, and a growing demand for luxury hotels.
Pet Friendly Hotel Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for a swift expansion in the pet friendly hotel market in the coming years, with predictions suggesting it will reach a value of $7.34 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.3%. This projected growth stems from several factors such as the rise in pet ownership, an increase in the aging population, a move towards eco-friendly products, growth in the travel and tourism sector, and an upswing in the demand for specialized pet care services. The forecast period will also witness major trends such as technological integration, product innovation, the introduction of cat grooming services, the adoption of smart technology for improved pet supervision, and the launch of stay-and-play packages.
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What Are the Drivers Transforming the Pet Friendly Hotel Market?
The rise in pet ownership is projected to drive the expansion of the pet-friendly hotel market. Pet ownership is usually characterized by the responsibility of taking care of any animal species, primarily those which have been domesticated, for purposes such as companionship, work, or leisure. The surge in pet ownership can be traced back to several aspects like societal trends, urbanization, and an increase in the number of young adults deciding to delay having children. Pet-friendly hotels facilitate pet ownership by streamlining the experience of travelling with pets, strengthening the relationship between pets and their owners, and encouraging a pet-oriented lifestyle. For example, data from Animal Medicines Australia, a non-governmental organization, indicates that 2022 saw significant growth in pet ownership in Australia, with the recorded number of pet owners escalating to 28,730.8, up from the 39% in 2021, a growth of 24%. This highlights growing pet acquisition and investment in their care, emphasizing the increasing acceptance of pets in Australian homes. Consequently, the growth in pet ownership boosts the pet-friendly hotel market.
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What Long-Term Trends Will Define the Future of the Pet Friendly Hotel Market?
Top-tier firms in the pet-friendly hotel industry are aiming to attract more pet-owning vacationers by developing innovative offerings, such as pet-friendly deals. These deals provide an assortment of nutritious food and drink choices particularly created for dogs and their owners. The packages generally comprise exclusive pet facilities, like tailor-made pet beds, gourmet pet food, and pet-sitting services. To exemplify, Moxy Hotels, a US-based hotel company, teamed up with Sir Woofchester's Canine Hospitality, a UK-based hotel firm, in April 2024 to launch improved dog-friendly packages across its properties. The packages include distinctive services like dog-welcome kits packed with treats and toys, and entry to pet-friendly shared spaces. This pattern highlights the increasing focus on creating comprehensive, pet-inclusive experiences to attract and retain pet-owning tourists, mirroring larger changes in consumer behavior towards incorporating pets into their day-to-day lives.
Which Segments in the Pet Friendly Hotel Market Offer the Most Profit Potential?
The pet friendly hotel market covered in this report is segmented -
1) By Type: Luxury Hotel, Normal Hotel
2) By Booking: Offline, Phone, Online
3) By Application: Pet Cat, Pet Dog, Other Applications
Subsegments:
1) By Luxury Hotel: 5-Star Pet-Friendly Hotels, Boutique Pet-Friendly Hotels, Pet Spa and Wellness Hotels
2) By Normal Hotel: Mid-Range Pet-Friendly Hotels, Budget Pet-Friendly Hotels, Chain and Franchise Pet-Friendly Hotels
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Which Firms Dominate the Pet Friendly Hotel Market by Market Share and Revenue in 2025?
Major companies operating in the pet friendly hotel market are Marriott International, Loews Hotels, PetSmart Inc., Hilton Worldwide Holdings Inc., Fairmont Hotels & Resorts, Hyatt Hotels Corporation, InterContinental Hotels Group, Wyndham Hotels & Resorts, Montage Hotels & Resorts, Red Roof Inn, Auberge Resorts Collection, The Hoxton, Langham Hospitality Group, Le Bristol Paris, Oetker Collection, Best Friend Pet Care, Dusit International, Barkley Pet Hotel & Day Spa, Eden Roc Cap Cana, Old Towne Pet Resort LLC, Inn By The Sea
Which Regions Offer the Highest Growth Potential in the Pet Friendly Hotel Market?
North America was the largest region in the pet friendly hotel market in 2024. The regions covered in the pet friendly hotel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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