Hotels Market Overview

The Hotels Market Growth is projected to grow at a compound annual growth rate (CAGR) of 9.2% from its 2023 valuation of USD 981.22 billion to USD 1816.88 billion by 2030.

A hotel is a well-maintained establishment that provides visitors with a place to spend the night in exchange for payment on a temporary basis. Hotel owners frequently try to target a certain type of customer by their pricing strategy and marketing approach, or by the range of services they offer. The specific amenities and services provided to guests can also differ significantly from one hotel to the next. The area of the service industry that deals with lodging for tourists is the hotel industry.

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Hotels Market Report Scope and Research Methodology

The report is a comprehensive analysis of the complementary and Hotels market by region, segment and competitive landscape. The scope of the research included market potential, regulatory scenario, consumer behaviour, technological influence & Industry rivalry. Region wise data has been collected the analyse the country wise markets. The new entrants in Hotels market were researched for growth prospects and future business outlooks

Secondary data was collected from official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the Hotels industry along with paid and free databases. To estimate the segment wise, regional and global Hotels Market size, bottom-up approach was used.

Hotels Market Regional Insights

The North American region is predicted to lead the industry, having held the largest market share in 2023. By 2030, North America is predicted to have the most market shares. Due to increasing demand, the industry is seeing significant investments in microhotels in North American cities by independent and branded hotel chains, followed by Asia-Pacific and Europe. For example, Marriott International, a well-known American global smart hospitality firm, said in January 2022 that its Moxy hotel chain would open in the Southeast United States. These are the main drivers of the North American region's expansion in the worldwide market over the course of the forecast period.

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Hotels Market Segmentation

by Hotel Type

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

Business/Commercial Hotels, Boutique Hotels, Resort Hotels, Casino Hotels, Transit Hotels, Bed & Breakfast Hotels, and Others are the different hotel types that make up the market. A compound annual growth rate (CAGR) of is anticipated for the business/commercial hotel segment throughout the projection period. 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

by Room Capacity

Small
Medium
Large
Mega

by Business Model

Individual
Chain

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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Key questions answered in the Hotels Market are:

• What is Hotels?
• What are the factors driving the Hotels Market growth?
• What are the factors are limiting the Hotels Market growth?
• Which trends are expected to generate additional revenue for the Hotels market growth?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Hotels Market?
• What growth strategies are the players considering to increase their foothold in the Hotels Market?
• Who held the largest market share in the Hotels Market?

Key Offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size & Forecast by different segment
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis

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