Hotels Market Insights with Marriott International and Hilton Leading the Way

Hotels Market Poised for Significant Growth Through 2030

The global Hotels Market is on a robust growth trajectory, with valuations rising from USD 981.22 billion in 2023 to an anticipated USD 1,816.88 billion by 2030. This represents a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period.

Competitive Landscape and Regional Demand

Key industry players such as Marriott International, Hilton Worldwide Holdings Inc., InterContinental Hotels Group, and Hyatt Hotels Corporation are at the forefront of this expansion. These companies are focusing on technological innovations and strategic partnerships to enhance guest experiences and expand their global footprint. Notably, regions like North America, Europe, Asia-Pacific, and the Middle East are experiencing heightened demand, driven by increased travel and tourism activities.

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United States: Growth and Consolidation

In the United States, the hotel industry is witnessing significant growth, propelled by a strong domestic travel market and the resurgence of international tourism. Major hotel chains are engaging in mergers and acquisitions to consolidate their market positions. For instance, Marriott International's acquisition of Starwood Hotels & Resorts has expanded its portfolio, offering a diverse range of brands to cater to various market segments.

Asia-Pacific: Opportunities and Trends

The Asia-Pacific region presents substantial opportunities for the hotel market, driven by rising disposable incomes and a burgeoning middle class with a growing appetite for travel. Countries like China and India are witnessing a surge in both domestic and international tourism, prompting hotel chains to expand their presence. Additionally, the adoption of smart hotel technologies and sustainable practices is gaining traction, aligning with the preferences of tech-savvy and environmentally conscious travelers.

Europe: Trends and Consolidation

Europe's hotel market is characterized by a blend of historic charm and modern luxury. The region is experiencing trends such as the rise of boutique hotels and personalized guest experiences. Consolidation activities are also prevalent, with companies like AccorHotels acquiring brands to diversify their offerings and strengthen their market presence across the continent.

Middle East and Africa: Opportunities and Expansion

The Middle East and Africa are emerging as lucrative markets for the hotel industry, driven by ambitious tourism initiatives and mega-events. For example, Saudi Arabia's Vision 2030 plan aims to boost tourism, leading to increased investments in hotel infrastructure. International hotel chains are expanding into these regions, capitalizing on the growing demand for luxury and business accommodations.

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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 projected 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

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.

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Major Players in Hotels Market:

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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