The floating hotels market was valued at USD 4.5 billion in 2023 and is expected to expand at a 6.2% annual growth rate, reaching an estimated USD 8.22 billion by 2033.
The floating hotels are the hotels that are built on the river bed or on the harbour area of the river; the installation is done on the semi-submersible platform. Floating hotel concept arrived from the ancient floating house tradition which was prominent in the regions where human habitations were on the river, and many families resided on the boat. This concept was undertaken and modernised with an impression to come up with unique, high-end experience for the guests. As per the construction floating hotels are firmly placed on the columns raised from the water bed. There are variety of floating hotels, construction wise, but the general strategy is to construct small separate cabins or cottages over the water bed, this creates privacy and a celebratory ambiance. Floating hotels are operating similar to any resort or any other hotels; rooms rented, services provided are the basic services. Primary target guests for floating hotels are the wedding couples; most of the floating hotels are situated at the honeymoon destinations and as the separate room infrastructure provides plenty of privacy, this makes floating hotels their first preference. Other guests who prefer floating hotels are vacationers who prefer waterfronts. Other types of floating hotels are constructed with the concept of mobility as they are built on barges.
Floating Hotel Industry: Drivers and Opportunities
Mainly, factors such as a shift in vacationer’s holidaying concept from crowded places to more near to natural resources and peaceful riverside surrounding experience is driving the market of floating hotel in the hotel industry. Other factors that drive the market of floating hotel industry are the rise in per capita income, people becoming more environmentally friendly, increase in trend of vacationing, growth in service class population, lucrative offerings and deals provided by the floating hotels. Moreover, the floating hotel assures adventure-packed holidays which is usually preferred by families, the package includes activities such as swimming with the dolphins, rainforests, lounge on the beaches, this triggers the demand in the floating hotel industry worldwide. As floating hotel is a unique concept which itself attract travellers to experience it at least once in their life, there are many opportunities such as building innovatively constructed hotels like air floating hotels, portable hotels, and floating hotels in regions such as Dubai, Abu Dhabi, and many another concept hotels across the globe.
Floating Hotel Industry: Trends
There is a growing trend of experiencing floating hotels during vacations or holidays among vacationers; they see it as an entirely different, relaxing and rejuvenating experience; this is more likable by couples and adventurists, especially water activity lovers. Many innovations in the construction and infrastructure of the floating hotels are a trend; some trends include portable aero hotels, hotels inside ships and many others. Another trend encountered is the honeymoon stay, many newlyweds tend to prefer floating hotels over other types as it provides romantic angle.
Floating Hotel Industry: Restraints
Although demand for the floating hotel in the hotel industry is seen to be promising, there are certain factors which are hindering the growth of the floating hotel Industry such as high tariff for valuable services as it belongs to high-end segment of the hotel industry. Besides, the guests’ mind-set of exploring new destinations and different hotels limits them from revisiting the same hotel again or on an immediate basis. Another restraint is the location of the floating hotel which may not be as per the customer’s preference.
Competitive Landscape
The competitive landscape is driven by innovation in design and amenities, geographical presence, customer service, and pricing strategies. Companies invest in continuous improvement of their offerings to stay ahead of the competition and meet the evolving demands of travelers. Partnerships and collaborations with other organizations in the travel and tourism industry, as well as the adoption of technology solutions for seamless guest experiences, are common strategies players in the floating hotel market employ.
Key Companies Profiled
- Bora Bora Lagoon Resort & Spa,
- Reef World, Aerohotel,
- Floating & Rotating Hotel Tower,
- Oberoi Udaivilas,
- King Pacific Lodge,
- Punta Caracol,
- Dragon Inn Floating Resort
- Conrad Maldives,
- Soneva Gili by Six Senses,
- Queen Mary Long Beach
- Others
Segmentation Analysis of the Markets
By Room Type:
- Single Occupancy
- Double Occupancy
By Price Range:
- Economical
- Mass
- Premium
By Booking Channel:
- Phone Booking
- Online Booking
- In-Person Booking
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/floating-hotel-industry-overview
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
