Hotels Market Surges at 9.2% CAGR: U.S., China, UK & Spain Lead Growth

Hotels Market Poised for Significant Growth

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.

This robust expansion is driven by technological innovations, evolving consumer preferences, and strategic mergers and acquisitions across various countries.

Click the link to uncover the latest trends: https://www.maximizemarketresearch.com/request-sample/47478/ 

Hotels Market Country-Specific Insights:

Vietnam: Hospitality Expansion Opportunities

Vietnam's hotel industry is experiencing rapid growth, with both international and domestic chains expanding their footprints. The country's tourism boom has led to increased investments in new properties and the renovation of existing ones. Notably, Accor SA has announced plans to open several new hotels in Vietnam, aiming to cater to the rising number of tourists.

Thailand: Tourism Trends Fueling Hotel Growth

Thailand remains a top destination in Southeast Asia, attracting significant investments in the hotel sector. The country's appeal to both leisure and business travelers has led to the development of diverse accommodation options. InterContinental Hotels Group has recently expanded its presence in Thailand, introducing new brands to capture a broader market segment.

Japan: Market Consolidation in Focus

In Japan, the hotel industry is witnessing consolidation as companies merge to strengthen their market positions. A notable development is the acquisition of a local hotel chain by Marriott International Inc, aiming to enhance its portfolio ahead of upcoming international events.

South Korea: Technological Updation in Hospitality

South Korea's hotel sector is embracing technological advancements to enhance guest experiences. Hyatt Hotels Corporation has introduced smart room technologies in its South Korean properties, offering personalized services through artificial intelligence and Internet of Things (IoT) integrations.

Singapore: Luxury Segment Growth

Singapore continues to see growth in its luxury hotel segment. Mandarin Oriental Hotels has unveiled plans for a new flagship property in the city, aiming to attract high-net-worth travelers with exclusive amenities and services.

United States: Strategic Acquisitions Drive Expansion

The U.S. hotel industry has experienced significant deal-making activity. In 2024, acquisitions by private equity firms pushed deal activity in the sector to a record high, with £6.6 billion worth of deals, a 182% increase against 2023. Notably, Blackstone acquired Village Hotels for about £780 million, and Starwood Capital purchased 10 hotels from Edwardian Hotels for around £800 million.

China: Mid-Range Hotel Trends

Global hotel chains are targeting the budget-conscious segment of the Chinese market amid the country's economic slowdown. Hyatt, IHG, and Radisson are focusing on mid-range brands and converting unoccupied office buildings into affordable hotels to attract younger travelers.

Austria: Boutique Hotel Opportunities

Austria's hotel market is seeing a rise in boutique hotel developments, catering to travelers seeking unique and personalized experiences. Kempinski Hotels SA has announced the opening of a new boutique property in Vienna, emphasizing local culture and bespoke services.

Belgium: Sustainable Hospitality Trends

In Belgium, there is a growing trend towards sustainable hospitality. Hilton Hotels & Resorts has implemented eco-friendly initiatives across its Belgian properties, including energy-efficient systems and waste reduction programs, aligning with global sustainability goals.

Germany: Market Expansion Strategies

Germany's hotel industry is expanding, with The Indian Hotels Company Ltd (Taj Hotels) entering the market through a strategic partnership to open luxury properties in key cities, aiming to attract both business and leisure travelers.

France: Culinary Tourism Growth

France continues to leverage its reputation for culinary excellence to attract tourists. Accor SA has introduced gastronomic experiences in its French hotels, partnering with renowned chefs to offer exclusive dining options.

Italy: Heritage Hotel Developments

Italy's rich cultural heritage has led to the development of heritage hotels. Rosewood Hotels & Resorts LLC has transformed historic buildings into luxury accommodations, providing guests with an immersive cultural experience.

Spain: Investment Surge in Luxury Hotels

Spain's hotel industry has seen a significant increase in investments, particularly in luxury assets. In 2024, the country achieved its fourth-best year historically, with €3.35 billion in hotel investments. The acquisition of high-end properties, such as the Hotel Miguel Ángel and the Hotel Iberostar Las Dalias, has been prominent.

United Kingdom: Record Dealmaking Activity

The UK hotel sector reached its highest level of dealmaking since 2015 in the first half of 2024, driven by US private equity firms. Deals amounted to an estimated £3.08 billion, marking a 35% increase compared to the whole of 2023. Prominent transactions include Blackstone's acquisition of Village Hotels and Starwood Capital's purchase of 10 hotels from Edwardian Hotels.

Canada: Resort Developments on the Rise

Canada is witnessing a surge in resort developments, with Four Seasons Holdings Inc announcing new projects in popular destinations to cater to the growing demand for luxury leisure experiences.

Browse Source:

https://www.maximizemarketresearch.com/request-sample/47478/ 

The Future of Hospitality: Hotels Market Breakdown

by Hotel Type

Business/ Commercial Hotels

Boutique Hotels

Resort Hotels

Casino Hotels

Transit Hotels

Bed & Breakfast Hotels

Others

by Price Level

Luxury

Upscale

Midscale

Economy

by Room Capacity

Small

Medium

Large

Mega

by Business Model

Individual

Chain

Explore the full study here for deeper insights:

Uncover key insights, explore the findings, and gain a comprehensive understanding of the research

The Titans of Hospitality: Leading the Future of Global Stays

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

Discover related reports that match your business needs—insights that drive smarter decisions:

Global Augmented Reality Packaging Market

Kinetic Tiles Market

Europe Functional Cosmetics Market

Global Non-breathable Films Market

Global Sports Apparel Embellishment Market

Contact Us:

MAXIMIZE MARKET RESEARCH PVT. LTD.

3rd Floor, Navale IT park Phase 2,

Pune Banglore Highway, Narhe

Pune, Maharashtra 411041, India.

+91 9607365656

sales@maximizemarketresearch.com