The Report Covers Hotels Market in North America and it is segmented by service type (business hotel, airport hotel, suite hotel, resort, other service hotels), geography (United States of America, Canada, and Mexico). The report offers market size and forecasts for the North American luxury hotel market in volume (number of hotels) and value (USD million) for all the above segments.

Market Share by Key Players

Global Market Share, 2025	Industry Share %
Top 3 (Marriott, Hilton, IHG)	19%
Next 3 of Top 5 (Choice Hotels, Wyndham, Accor)	25%
Emerging & Niche Brands (AKA, Sonder, The Ascott Limited)	15%
Smaller Operators	5%
Regional & Specialized Extended Stay Providers (Various Local Players)	36%

The global micro hotel market size is estimated to be around USD 94.6 billion in 2024 and is anticipated to reach a value of USD 164.8 billion by 2034. Deals are projected to report a CAGR of 5.7% over the forecast period.

Attributes	Description
Estimated Global Micro Hotel Market Size (2024E)	USD 94.6 billion
Projected Global Micro Hotel Market Value (2034F)	USD 164.8 billion
Value-based CAGR (2024 to 2034)	5.7%

Country-wise Insights

Countries	CAGR 2024 to 2034
United States	3.5%
Germany	4%
Australia	5.8%
China	7.9%
India	8.5%

Category-wise Insights

Segment	Men (Consumer Orientation)
Value Share (2024)	58.1%

Segment	Package (Tour Type)
Value Share (2024)	45.7%

The Extended Stay Hotel Market Share size and share are expected to exceed USD 146.04 billion by 2032, with a compound annual growth rate (CAGR) of 11.6% during the forecast period.

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Boutique Hotels Market Size 2025-2029

The boutique hotels market size is forecast to increase by USD 11.36 billion at a CAGR of 7.1% between 2024 and 2029.

The market is experiencing significant growth due to the expanding tourism industry and the increasing preference for unique and authentic experiences among travelers. Boutique hotels offer personalized services, customized health and wellness programs, and catering options that cater to individual needs. Seasonality and demand fluctuations are key challenges for this market, requiring hotels to implement digital solutions such as artificial intelligence and automation to optimize operations and enhance guest experiences. The cruise industry is also integrating boutique hotels onboard ships to cater to the evolving needs of luxury travelers. The market is poised for continued growth as travelers seek personalized, high-quality experiences in the competitive tourism landscape.

What will be the Size of the Boutique Hotels Market During the Forecast Period?

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The market caters to travelers seeking unique, personalized experiences, focusing on authenticity, local culture, and high-quality service. This market encompasses urban boutique hotels, boutique beach resorts, and independent properties, all offering individualized service and soft branding strategies. Young travelers, particularly millennials, are driving growth in this sector, favoring experiential stays over extended vacations. Online booking and digital platforms facilitate convenience, while social media and online reviews influence consumer decisions. Aesthetics, health services, and eco-conscious travel are key trends, with energy-efficient systems and mobile key systems enhancing the guest experience. Loyalty programs and personalized travel experiences further differentiate this market from mass-market accommodations.

How is this Boutique Hotels Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Business hotels
  Suite hotels
  Airport hotels
  Resort hotels


Channel

  Online booking
  In-person booking


Service Type

  Luxury boutique hotels
  Budget boutique hotels
  Family-friendly boutique hotels
  Adults-only boutique hotels


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Type Insights

The business hotels segment is estimated to witness significant growth during the forecast period.

Business hotels have gained popularity due to their ability to cater to the distinct needs of business travelers. Strategically located in commercial and financial districts, these hotels offer easy access to major business centers, corporate offices, and conference venues, saving time and providing convenience. Business hotels provide specialized amenities and facilities, such as well-equipped meeting rooms, conference facilities, high-speed Internet access, business centers, printing and copying services, and 24-hour room service. Young travelers, millennials, and extended vacationers also seek experiential stays, personal space, and personalized service, which business hotels often offer. Tech-driven hospitality, themed experiences, pet-friendly accommodations, art-centric hotels, and eco-conscious travelers are other target markets.

Online booking, social media marketing, and loyalty programs are essential digital platforms for these hotels. Sustainable practices, such as energy-efficient systems, water conservation, and locally sourced food, appeal to affluent and leisure travelers.

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The business hotels segment was valued at USD 7.13 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 33% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Another region offering significant growth opportunities to vendors is North America. They have experienced significant growth in North America over the last decade, catering to travelers seeking personalized and intimate accommodations. Known for their stylish and aesthetically pleasing interiors, these unique lodgings offer a visually appealing experience for those who value design and ambiance. Millennials, short-trip travelers, and extended vacationers, as

Asia Pacific's Mid range Hotel market is currently experiencing unparalleled growth, making it the fastest-growing segment in the global hospitality industry, capturing a significant 23% share of the market.

Extended stay hotel industry is expected to gain about USD 62.8 billion in 2025 and about USD 143.2 billion in 2035.It would grow at a CAGR of about 8.6% from 2025 to 2035.

Attribute	Details
Industry Size (2024A)	USD 57.2 Billion
Industry Size (2025E)	USD 62.8 Billion
Projected Industry Size (2035F)	USD 143.2 Billion
Value CAGR (2025 to 2035)	~8.6%
Market Analysis of Top Players Share in 2024	~18%-25%

The European Luxury Hotel Market Report is Segmented by Service Type (business Hotels, Airport Hotels, Holiday Hotels, And Resorts and Spas) and Geography (Italy, Germany, Spain, France, Switzerland, The United Kingdom, And the Rest of Europe). The Report Offers Market Size and Forecasts for the European Luxury Hotel Market in Value (USD) for all the Above Segments.

The boutique hotel market value is estimated to expand at a CAGR of 6.9% over the assessment period. In 2024, the market is expected to generate a revenue worth US$ 9,962.60 million. By 2034-end, the market size is forecast to expand to US$ 19,415.50 million.

Attributes	Key Insights
Estimated Boutique Hotel Market Size (2024E)	US$ 9,962.60 million
Projected Boutique Hotel Market Valuation (2034F)	US$ 19,415.50 million
Value-based CAGR (2024 to 2034)	6.9%

Category-wise Boutique Hotel Market Insights

Leading Tour Type	Package Traveler
Value Share (2024)	51.30%

Leading Booking Channel	Online Booking
Value Share (2024)	46.50%

Global Boutique Hotel Market Dynamics by Country

Countries	Forecast CAGR (2024 to 2034)
United States	5.30%
Canada	7.20%
Spain	6.60%
China	7.80%
India	8.40%

Explore the Hospitality Market trends! Covers key players, growth rate 6.1% CAGR, market size $7239.02 Billion, and forecasts to 2034. Get insights now!

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Vietnam Hotel Market Size 2024-2028

The Vietnam hotel market size is forecast to increase by USD 4.1 billion at a CAGR of 19.4% between 2023 and 2028.

The market is experiencing significant growth, driven by various factors. One key trend is the increasing popularity of spa tourism, as travelers seek relaxation and rejuvenation during their stays. Mobile apps are also becoming essential tools for booking and managing hotel reservations, with sports tourism and cultural tourism attracting a growing number of domestic and international visitors. Artificial intelligence and data analytics are being employed to enhance guest experiences, with chatbots and content personalization becoming common features. 
Business travelers are also driving demand for professional development opportunities and advanced telematics to streamline their trips. Culinary tourism is another emerging trend, as visitors explore Vietnam's rich culinary heritage. Climate change and unexpected weather developments pose challenges to the industry, requiring adaptive strategies and resilient infrastructure. Overall, the Vietnamese hotel market is poised for continued growth, with digital innovation and sustainable practices playing key roles in its development.

What will be the size of the Vietnam Hotel Market during the forecast period?

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The dynamic of the market continues to attract global attention with its strong growth and expanding hospitality sector. With a focus on accommodation, this market encompasses various segments, including luxury, budget, and mid-range hotels, homestays, hostels, and short-term rental homes. The industry caters to both domestic and international travelers, with business and leisure travel driving demand. Key trends include the integration of technology, such as touchless check-in, digital room keys, mobile apps, AI chatbots, and personalized concierge services. Additionally, the market prioritizes safety and security, offering conference and event facilities, restaurants, bars, and sports tourism options.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Tourist accommodation
  Official business


Type

  Chain hotels
  Independent hotels


Geography

  Vietnam

By Application Insights

The tourist accommodation segment is estimated to witness significant growth during the forecast period. In Vietnam's hotel market, the tourist accommodation segment holds the largest revenue share in 2023. Domestic tourism contributes to the segment's growth, but international tourism demand is more significant, accounting for approximately 55.7% of the total tourism industry revenue. The Vietnamese government is promoting various tourism activities, including sports, culinary, and cultural tourism, to attract domestic and international visitors. Campaigns such as Vietnam Tourism roadshows, Mekong moments, and Mekong Minis have been effective in increasing international tourist arrivals. Advanced technologies like touchless check-in, digital room keys, mobile apps, AI chatbots, and sports events, trade fairs, and exhibitions are transforming the hospitality industry.

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The tourist accommodation segment was valued at USD 1.06 billion in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Vietnam's hotel market size is expected to grow significantly, driven by increasing international arrivals, infrastructure development, and a strong focus on enhancing the overall guest experience. Sports events, including international tournaments, further boost the industry's growth. Overall, the market presents a lucrative investment opportunity for businesses seeking to expand their hospitality offerings in a thriving and diverse market. The Vietnam hotel market is expanding rapidly as both domestic and international travelers seek a diverse range of accommodation options. Online reservation tools have become essential for travelers looking for seamless booking experiences, from budget stay options to luxury suite deals. With increasing demand for eco-friendly stays, many hotels are adopting sustainable practices, offering green accommodations and promoting energy-efficient rooms.

Guests can enjoy room comfort upgrades, including smart room controls, as well as modern conveniences like check-in kiosks and quick check-out tools for a hassle-free experience. Hospitality service apps are revolutionizing the guest experience, allowing users to access services like room service apps, local tour packages, and concierge support tools all at their fingertips. Business travelers can take advantage

According to Cognitive Market Research, the global mid range hotel market size is USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.00% from 2023 to 2030

The demand for mid range hotel market is rising due to therise of online booking platforms and travel websites has greatly enhanced the prominence of mid-range hotels.
Demand for one double bed remains higher in the mid-range hotel market.
The online booking category held the highest mid-range hotel market revenue share in 2023.
North America will continue to lead, whereas the Asia Pacific mid-range hotel market will experience the strongest growth until 2030.

Market Dynamics of MID Range Hotel Market

Key Drivers of MID Range Hotel Market

Enhanced Guest Experience and Amenities to Provide Viable Market Output

The mid-range hotel market is the constant focus on enhancing the guest experience. Mid-range hotels are increasingly investing in amenities and services that appeal to a wide range of travelers, including families, business professionals, and tourists. These hotels are incorporating modern technology, such as mobile check-in services and high-speed Wi-Fi, to cater to the needs of tech-savvy guests.

In January 2023, Marriott revealed the inauguration of the first-ever Westin Hotels and Resorts establishment in Uttarakhand, India. The Westin Resort and Spa, Himalayas, is now open for business.

Additionally, they are expanding their offerings to include on-site restaurants, fitness centers, conference facilities, and recreational activities. By providing a diverse array of services, mid-range hotels create a compelling value proposition for guests, ensuring customer satisfaction and loyalty. This focus on guest experience drives positive reviews, repeat business, and positive word-of-mouth referrals, contributing significantly to the growth of the mid-range hotel sector.

Strategic Location and Accessibility to Propel Market Growth

The strategic location of mid-range hotels plays a pivotal role in driving their success. These hotels are often situated in prime areas, offering easy accessibility to popular tourist attractions, business districts, transportation hubs, and entertainment venues. Their convenient locations make them an attractive choice for travelers seeking both comfort and accessibility. Mid-range hotels frequently capitalize on their proximity to key points of interest, allowing guests to explore the local culture and attractions effortlessly. Moreover, their accessibility to public transportation options and major highways makes them convenient choices for travelers, ensuring a steady flow of guests throughout the year.

Growing ease of booking through online portals provides better access to mid-range hotels

Restraint Factors of MID Range Hotel Market

Rising Economic Fluctuations to Hinder Market Growth

The mid-range hotel market is its sensitivity to economic fluctuations. During periods of economic uncertainty, consumers tend to reduce their travel budgets, opting for more budget-friendly accommodation options or cutting down on travel altogether. Mid-range hotels often find themselves in a precarious position, as they need to balance providing quality services with competitive pricing. Economic downturns can lead to reduced occupancy rates and lower average room prices, impacting the overall revenue of mid-range hotels. Additionally, these hotels face pressure from both ends: the need to maintain a certain level of service quality to attract guests and the necessity to keep prices affordable.

Impact of COVID – 19 on Mid Range Hotel Market

The COVID-19 pandemic had a profound impact on the mid-range hotel market. Travel restrictions, lockdowns, and health concerns led to a sharp decline in bookings, occupancy rates, and revenues for mid-range hotels. Many had to temporarily close or significantly reduce their operations, resulting in financial challenges. In response to the pandemic, mid-range hotels implemented strict hygiene and safety protocols to reassure guests, leading to increased operating costs. The shift towards remote work also affected business travel, impacting the segment's corporate clientele. As the situation improved and vaccination efforts progressed, mid-range hotels started to see a slow but steady recovery. According to Cognitive Market Research, the global mid range hotel market size is USD ...

Key players such as Conrad Maldives Rangali Island (Underwater Villas), The Float House River Kwai in Thailand, and Sunborn London have secured a strong market position through unique water-based hospitality concepts. These industry leaders command nearly 40% of the market by leveraging high-end branding, strategic partnerships with travel agencies, and exclusive guest experiences.

Key Players	Industry Share (%) 2025
Top 3 (Conrad Maldives, Float House River Kwai, Sunborn London)	40%
Regional Operators (Kerala Houseboats, Knysna Houseboats, Aqua Mekong)	35%
Emerging & Niche Brands (Arctic Bath Hotel, Punta Caracol Acqua-Lodge, Soneva Aqua)	18%
Independent Floating Hotels (Boutique and Unique Water Stays)	7%

The Global Hotel Property Management Software Market, based on five year historic analysis, is valued at USD 4.3 billion. It is driven by the increasing adoption of cloud-based solutions and the growing demand for automation in hotel operations. Get the more industry growth, segmentation, key players and revenue statistics.

The US luxury hotel market is expected to grow from $73.10 million in 2025 to $128.28 million by 2033, at a CAGR of 5.12%. The market is driven by the increasing demand for luxury travel and the rising number of high-net-worth individuals. Additionally, the growing popularity of experiential travel and the increasing demand for personalization are also contributing to the growth of the market. The market is segmented by service type, theme, and region. The major service types include business hotels, airport hotels, suite hotels, resorts, and other service types. The major themes include heritage, contemporary, modern, and other themes. The major regions include North America, South America, Europe, Middle East & Africa, and Asia Pacific. Recent developments include: In January 2024, A 20-year partnership has been established between Marriott and MGM Resorts. The Marriott brand now includes 17 MGM properties in the US, including those in Las Vegas. As per the agreement, MGM's and Marriott's sales channels can be used to make property reservations., In June 2023, Hyatt Corporation announced that the World of Hyatt loyalty program has successfully merged the Dream Hotels brand, The Chatwal, The Time New York, and Unscripted properties. Members and visitors can now book these properties through Hyatt channels, giving them access to more stay options and lifestyle experiences.. Key drivers for this market are: Growing Trend of Availing Luxurious Lifestyle While Travelling. Potential restraints include: Changing Consumer Preferences, Rising Operational Costs. Notable trends are: Tourism Growth in United States is Driving the Market.

Explore the Five Star Hotel Market trends! Covers key players, growth rate 11.6% CAGR, market size $233.6 Billion, and forecasts to 2033. Get insights now!

[226+ Pages Report] The global Hospitality market size is expected to grow from USD 3953 billion in 2021 to USD 6716.3 billion by 2028, at a CAGR of 10.24% from 2022-2028

As per Cognitive Market Research's latest published report, the Global Hotel market size was $784.82 Billion in 2023 and it is forecasted to reach $1,126.04 Billion by 2030. Hotel Industry's Compound Annual Growth Rate will be 5.29% from 2023 to 2030. What are the key driving factors for the Hotel market?

The Rising Investment in the Global Hotel Industry is Favoring the Market Growth

The year 2022 was a year that started with the reopening of many international borders and huge amounts of government economic stimulus. However, the outbreak of Ukraine-Russia war was a growing geopolitical tension. Despite all these challenges, the global hotel and lodging industry continues to show resilience as RevPAR (Revenue Per Available Room) towards complete recovery). For instance, according to the data of the Global Hotel Investment Outlook 2023, at the year end of 2022, the proportion of RevPAR recovered relative to that of 2019 by region ranged from 69% to 108%. Additionally, in the period of seven years before COVID-19, outbound Chinese capital for the global hotel investment accounted for USD 3.4 billion every year. From the year 2020 to 2022, the outbound Chinese hotel investment has been about USD 400.0 million.

The transaction activities in the hotel industry had been witnessed to be increased than before. For instance, according to the research of Jones Lang LaSalle IP, Inc. (JLL) and Global Hotel Investment Outlook 2023, two of the three global regions (the Americas and the APAC) observed an increased hotel investment volume in 2022. Moreover, private equities continue to be the largest acquirers of hotel assets globally. In the year 2022, there had been witnessed a significant increase in new investors entering the hotel industry. In fact, a 16% of the year’s global investment volume in hotel industry was generated by the first-time hotel buyers.

In the year 2022, there was a decline in investment volume, and same can be expected in 2023, owing to large portfolios might be challenging to finance. There can likely be a bifurcation in hotel acquisitions as luxury hotels will be continuing to sell for high values. In addition, in 2022, foreign investors deployed capital not only towards individual hotel assets but also into large-scale platforms, especially in the luxury space. For instance, in the third quarter of 2022, Saudi Arabia’s Public Investment Fund (PIF) entered into partnership with London-based investment firm Cian International to invest about USD 900 million into the Aman Group, valuing the ultra-luxury platform over USD 3 billion.

The Accelerating Global Travel and Tourism Fueled the Demand for Hotels, Drives the Market Growth

The Availability of Alternative Accommodation Places such as Short Term Rental Homes, Hostels, and Others May Hamper the Market Growth(Access Detailed Analysis in the Full Report Version)


The Rising Popularity of Ultra-Luxury Segment Generates an Opportunity for Expansion of the Market.(Access Detailed Analysis in the Full Report Version)

What is a Hotel?

A hotel is the most common type of accommodation, which can be defined as an establishment that offers overnight accommodation, meals, and various other services. Hotels are mainly aimed/targeted at tourists or travelers, although the local residential can also use hotels. Hotels is a segment categorized under the hospitality and tourism sector. Different hotels possess a wide range of accommodations ranging from budget motels to luxury resorts. Hotel industry consists of lodging places, event planning, theme parks, restaurants, and others, and it includes various activities such as facility maintenance & direct operations including porters, servers, housekeepers, kitchen keepers, bartenders, and many more. The global hotel industry is exhibiting a positive growth after COVID-19. For instance, according to the data of Global Hotel Investment Outlook, 2023, the hotel occupancy has reached 89% recovery as compared to that of 2019, thereby, proving its resilience.

The Hospitality Market in India is Experiencing Growth Due To the Country's Rich Culture and Diversity, Attracting Global Guests. The Service Sector, Known for Spiritual Tourism, Has Seen A Rise in Domestic Travel, Driven by A Growing Middle Class and Increased Disposable Income. Innovations in Accommodation Like Airbnb and Oyo Rooms Offer Cost-Effective Stays, While the Government Develops Ports As Cruise Tourism Hubs, Providing Hotel Services, Retail, and Restaurants. The Hotel Industry is Expanding With New Projects From International Chains, Driven by Increased Travel and Government Efforts To Boost Tourism.

The global casino hotel industry had a market worth US$ 191 billion in 2022, and it is anticipated that it will reach a market value of US$ 321.4 billion by 2033, growing at a CAGR of 4.8%. The market for tourism is expanding, which may be linked to rising traveler interest in these casino hotels.

Report Attributes	Details
Estimated Market Value (2022)	US$ 191 billion
Expected Market Value (2023)	US$ 214.5 billion
Projected Forecast Value (2033)	US$ 321.4 billion
Anticipated Growth Rate (2023 to 2033)	4.8% CAGR

Report Scope

Report Attributes	Details
Growth Rate	CAGR of 4.8% from 2022 to 2032
Market value in 2023	US$ 214.5 billion
Market value in 2033	US$ 321.4 billion
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	US$ billion for value
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type Consumer Orientation Age Group Region
Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia Middle East and Africa
Key Countries Profiled	United States Canada Mexico Brazil Germany United Kingdom France Spain Italy Poland Russia Czech Republic Romania India Bangladesh Australia New Zealand Japan China South Korea GCC countries South Africa Israel
Key Companies Profiled	Palms Casino Resort Caesars Entertainment Corporation City of Dreams Manila Eldorado Resort Casino Foxwoods Resort Casino Galaxy Entertainment Group Ltd MGM Resorts International Palms Casino Resort DraftKings Inc. Wynn Resorts Limited
Customization & Pricing	Available on Request