(EMAILWIRE.COM, April 15, 2023 ) As per Maximize Market research, the total global Hotels Market for was USD 822.86 Bn in 2021 and is expected to grow at a CAGR of 9.2 percent over the forecast period to reach USD 1,663.82 Bn by 2029.
Hotels Market Report Scope and Research Methodology
The report includes an in-depth region-wise and segment-wise analysis of the Hotels Market size and share. The data for the report is gathered by using both the research methodologies that are primary and secondary and the data collected through research was combined for accurate inference.
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Hotels Market Dynamics
The Hotels Market is driven by the growth of the travel and tourism industry and technological innovations by hotel companies gaining maximum profit and penetration in social media. The market growth is restrained by the emergence of shared accommodation.
Hotels Market Regional Insights
In 2021, the North American region dominated the Hotels Market with the largest market share and is expected to continue its dominance over the forecast period. The regional market is driven by the high investment for the branded hotel giants and the launching of new big hotels such as Moxy hotels in the Southeastern U.S.
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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
By Price Level
Luxury
Upscale
Midscale
Economy
By Room Capacity
Small
Medium
Large
Mega
By Business Model
Individual
Chain
Hotels Market Key Competitors include:
Accor SA
Marriott International
Hyatt Hotels Corporation
Wyndham Destinations, Inc.
Radisson Hospitality A.B.
Indian Hotels Company Limited
Oravel Stays Private Limited
TC Limited
EIH Limited
Bharat Hotels Limited
Lemon Tree Hotels
The Leela Palaces
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Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:
Floating Hotels Market– The market size is expected to reach USD 7.2 Bn by 2029 at a CAGR of 6.5 percent during the forecast period.
Beach Hotels Market– The Market size is expected to reach USD 248.09 Bn by 2029 at a CAGR of 3.3 percent during the forecast period.
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