The boutique hotel market is estimated at US$ 93.37 Billion in 2022 and is projected to reach US$ 115.80 Billion by 2032, at a CAGR of 6.7 % from 2022 to 2032.
The tourism industry is seen favorably by the federal government and local government, and Boutique, small, and medium-sized hotels can benefit from this programs by launching financing projects, advertising campaigns, and training programs. The travel and leisure sector supports the construction of hotels. It promotes social development and job creation within the region. It keeps millions of jobs in the hotel industry alive.
In order to raise awareness and boost ticket sales, the hotel industry is adopting cutting-edge social media marketing techniques, including Facebook. More customers are using booking applications due of their usability and convenience.
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Key Takeaways:
- The North America and Asia Pacific regions hold a market share of ~28% and ~25% respectively.
- The Covid-19 pandemic had a 45% impact on the value of the Boutique Hotel tourism.
- Online booking channels lead the charts in Boutique Hotels tourism market booking channel segmentation.
- Miami, Los Angeles, London, New York City, the USA, and UK are some of the most popular destinations for Boutique Hotel tourism
- Promoting domestic tourism and supporting safe returns of international tourism.
Impact of COVID-19 on the Boutique Hotel Market
Governments and businesses will turn to the protection of their citizens as their top priority as the COVID-19-affected economies continue to spiral out of control. But governments and businesses will need to act quickly to deal with the impact of the slide in equities on global revenue and stock values.
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Almost every region of the world has been impacted by COVID-19’s interruptions, and the hotel business has been among those most badly impacted. The travel bans were put into place, and they had a direct impact on hotel staff as well. The hotel and leisure industries are also working hard to understand and quantify the operational and financial ramifications for their companies while reacting rapidly and maintaining focus. Decisions to shut down lodging facilities, eateries, amusement parks, and theatres, as well as the general disruptive effects of the travel ecosystem.
Who is winning?
To raise their market share, take advantage of market prospects, and boost market profitability, the companies in the Boutique Hotel business have employed a variety of developmental tactics. The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers the effort of browsing multiple channels for their trips.
Leading players operating in the Boutique Hotel industry
- Nine Hours,
- Container Hotels,
- Tubohotel
- The Pod Hotel,
- Rolling Huts Boutique Hotels,
- Koyasan Guest House,
- Yotel Hotels
The Boutique Hotel Market by Category
By Hotel Type:
- Business Hotels
- Suite Hotels
- Airport Hotels
- Resorts Hotels, and others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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