Hotels Market Analysis on Luxury and Economy Price Level Segments
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30 Mar 2025 03:53:44 am.
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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 compound annual growth rate (CAGR) of 9.2% during the forecast period.
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Market Dynamics
Several key trends are shaping the future of the hotels market:
Technological Innovations:
The integration of smart technologies, including artificial intelligence (AI), virtual reality (VR), and augmented reality (AR), is enhancing guest experiences and operational efficiency.
Sustainability Initiatives:
A growing emphasis on eco-friendly practices and sustainable operations is influencing hotel designs and services.
Flexible Services:
The adoption of flexible check-in and check-out times, hassle-free payment systems, and personalized services is becoming increasingly prevalent.
MMR’s research methodology integrates primary and secondary data sources, including government publications, expert assessments, and industry reports. Our insights are drawn from thorough market investigations and a wide array of resources, ensuring the most accurate and up-to-date analysis of the Hotels market.
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Hotels Market Segmentation Analysis:
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. Over the course of the forecast period, the business/commercial hotels segment is anticipated to expand quickly at a CAGR.
by Price Level
Luxury
Upscale
Midscale
Economy
The market is divided into four segments based on price level: luxury, upscale, midscale, and economy. 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 based on room capacity: small, medium, large, and mega. By 2030, it is anticipated that the small room capacity segment will hold the biggest market shares. Small hotels are characterised by their small rooms, space-saving architecture, and lower-than-average rates, and they are popping up in major cities all over the world.
by Business Model
Individual
Chain
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Key Manufacturers:
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
Key Features of the Report:
Market Segmentation: Detailed breakdown by key segments and sub-segments, showcasing emerging trends and growth opportunities.
Competitive Landscape: In-depth profiles of key players, market leaders, and emerging competitors across different regions.
Market Dynamics: Analysis of growth drivers, market restraints, upcoming opportunities, and evolving industry trends.
Regional Insights: Examination of market size, growth rates, imports, exports, and performance across major global regions.
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Key Questions Addressed in the Report:
What is the current state of the Hotels market?
What factors are expected to drive the market's growth?
What is the forecasted Compound Annual Growth Rate (CAGR) during the forecast period (2024-2030)?
Which regions will experience the highest growth?
What strategic initiatives are key players adopting to enhance their market share?
What are the emerging trends and opportunities in the Hotels market?
Strategic Recommendations:
Our report not only provides market estimates but also offers key recommendations for businesses to enhance their growth strategies and capitalize on future opportunities. From competitive benchmarking and PESTLE analysis to SWOT assessments, we offer the strategic insights needed to thrive in the evolving market landscape.
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Tags: Hotels Market Size, Hotels Market Share, Hotels Market Demand, Hotels Industry, Hotels Market Growth, Hotels Market Forecast
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