The United States Luxury Hotel Market Report is Segmented by Room Type (Standard Luxury Room, Suites, Villas/Bungalows, Penthouses & Presidential Suites), Booking Channel (Direct Booking, Online Travel Agencies, and Other), Service Type (Business Hotels, Airport Hotels, Suite Hotels, Resorts, Other Service Types), and Geography (Northeast, Midwest, South, West). The Market Forecasts are Provided in Terms of Value (USD).

The global hotel occupancy rate reached 68 percent in September 2025. The highest rates that year were recorded in July and August, at 71 percent, respectively.

The Luxury Hotel Market Report Segments the Industry Into by Service Type (Business Hotels, Airport Hotels, and More), Room Type (Standard Luxury Room, Suites, and More), ]booking Channel (Direct Booking (Brand Website, Call Center), Online Travel Agencies (OTA), and More), and Geography (North America, South America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

As per Cognitive Market Research's latest published report, the Global Hotel market size was $XX Billion in 2024 and it is forecasted to reach $1,126.04 Billion by 2030. Hotel Industry's Compound Annual Growth Rate was 5.29% from 2023 to 2030.

North America held largest share of XX% in the year 2024 
Europe held share of XX% in the year 2024 
Asia-Pacific held significant share of XX% in the year 2024 
South America held significant share of XX% in the year 2024
Middle East and Africa held significant share of XX% in the year 2024 

Market Dynamics: Key Drivers

The growing hospitality industry has resulted in a rising number of restaurants and driving the market for Hotels

The growing hospitality industry, particularly the rising number of restaurants, is a significant driver for the hotel market, creating a symbiotic relationship where the success of one often fuels the growth of the other. Hotels with diverse and high-quality in-house dining options offer immense convenience to guests. Travelers, whether on business or leisure, appreciate not having to leave the hotel premises to find a good meal. A wide range of dining choices caters to different tastes and dietary needs, making the hotel more attractive.

Additionally, beyond overnight guests, excellent restaurants attract residents, drawing foot traffic to the hotel. This creates a vibrant atmosphere and can position the hotel as a culinary destination, even for those not staying there. This "staycation" trend or local patronage contributes to the hotel's overall revenue and brand visibility. The concept of a "staycation" involves locals opting for a short, leisure break in their own city or a nearby area, often seeking a blend of relaxation and indulgence. Hotels with strong F&B offerings are perfectly positioned to capture this market. Locals might book an overnight stay simply to enjoy the hotel's spa, pool, and, crucially, its high-quality restaurants and bars without the hassle of long-distance travel. This trend surged during the pandemic and has since solidified as a preferred leisure activity.

https://www.digigoyatra.com/blog/why-staycations-are-becoming-the-new-travel-trend-in-india

Market Restraint

The intensifying competition in the industry hinders the growth of the Hotel Market

The market is highly competitive, not only among traditional hotel chains, independent, boutique, but also increasingly with the rise of short-term rental platforms, like Airbnb. These alternatives offer diverse experiences and price points, putting pressure on traditional hotels. This has led to higher consumer expectations than ever for personalized experiences, seamless technology, exceptional service, and value for money, forcing businesses to constantly innovate and invest.

Moreover, to cater to the needs of a wide range of customers, large hotel chains constantly launch new sub-brands for instance, Marriott has launched numerous brands like Moxy, Element, and Autograph Collection to target increasingly niche traveler segments. This means more options for consumers within the same loyalty program, but also more direct competition for individual hotel properties.

In conclusion, intensifying competition, fueled by the rise of alternative accommodations, ever-increasing guest expectations, and pervasive price transparency, is a formidable restraint on the hospitality market. It forces hotels to constantly evolve, invest, and differentiate themselves not just on price, but crucially, on the quality of the experience they deliver. Introduction to the Hotel Market

Hotels have existed since very ancient times to serve merchants and other travelers. A hotel is a managed building or establishment that provides guests with a place to stay overnight, on a short-term basis, in exchange for money. The precise features and services provided to guests can vary quite drastically from one hotel to another.

The growth of the global hotel industry is primarily attributed to a strong resurgence in both leisure and business travel post-pandemic, fueled by rising global disposable incomes and a burgeoning middle class, particularly in emerging economies. This increased affluence and a desire for experiences lead to higher demand for diverse accommodation types, from luxury hotels to boutique stays and short-term rentals.

https://www.revfine.com/hotel-industry/

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The market size of the hotel and resort sector worldwide reached *** trillion U.S. dollars in 2024. This showed almost ***** percent growth over the previous year's figure of **** trillion U.S. dollars. What are the leading hotel brands globally? In 2024, among hotel brands with the highest brand values globally were industry giants like Hilton, Hyatt, and Hampton Inn. Hilton was reported to have a brand value exceeding **** billion U.S. dollars. However, while Hilton led brand value, Wyndham hotels and resorts claimed the top spot for the hotel company with the largest number of properties worldwide, boasting over **** thousand hotels globally, while Hilton ranked fourth. Hotel booking behavior of global travelers In 2023, hotel booking growth worldwide peaked in January and February, surpassing *** percent - there was also a notable increase in hotel booking growth during the summer months of June and August. As of 2024, Vietnam and China stood out as the countries with the highest share of consumers booking hotels or private accommodation. Meanwhile, countries with the lowest share of hotel and private accommodation bookings were Hungary and Pakistan.

Market Share by Key Players

The Luxury Hotel Market is estimated to be valued at USD 110.7 billion in 2025 and is projected to reach USD 185.6 billion by 2035, registering a compound annual growth rate (CAGR) of 5.3% over the forecast period.

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.

According to Cognitive Market Research, the global Budget Hotels market size was USD 284582.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 113833.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 85374.78 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 65454.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 14229.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 5691.65 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Business Travelers held the highest Budget Hotels market revenue share in 2024.

Market Dynamics of Budget Hotels Market

Key Drivers for Budget Hotels Market

Growing Urbanization to Increase the Demand Globally

In many areas, there is a rapid growth in travel inside and between cities as a result of urbanization. Urban budget hotels draw guests searching for reasonably priced overnight options in handy locations. Secondary sources estimate that about one-third of India's population resided in cities in 2023. People have moved from rural areas to the metropolis in search of employment and a means of subsistence, as seen by the trend, which indicates an increase in urbanization of more than 4% over the past ten years. Thus, the increasing urbanization is expected to propel the market growth during the forecast period.

Growing Investment to Propel Market Growth

The increasing investment in the industry is expected to drive the market over the projected period. For instance, in June 2023, in conjunction with the 2023 NYU International Hospitality Industry Investment Conference, Marriott International, Inc. declared its intention to extend its presence in the inexpensive midscale accommodation sector, building on its recent foray into the market through City Express by Marriott in Latin America. Marriott is announced intentions to establish a new brand, which is now known as Project MidX Studios and has not yet been given a name. This move is in line with the company's strategy to provide visitors with locally relevant lodging solutions for every purpose of their stay. The goal of the budget-friendly midscale extended stay brand is to provide guests looking for longer-term lodging in the United States and Canada with competitively priced modern comfort.

Restraint Factor for the Budget Hotels Market

Intense Competition and Changing Consumer Preference to Limit the Sales

There are many competitors in the highly competitive budget hotel market that provide identical services at similar price points. Individual operators' profit margins may be lowered by price wars resulting from this rivalry. Furthermore, because budget hotels concentrate on offering simple, uncomplicated services, it can be difficult to satisfy the demands of contemporary tourists who are looking for distinctive and customized experiences. Some guests may decide to book alternate lodging options like boutique hotels, vacation rentals, or Airbnb as a result of this change in tastes.

Key Trends for the Budget Hotels Market

Integration of Technology and Contactless Services Enhancing Guest Experience

Budget hotels are progressively incorporating technology to optimize operations and improve customer satisfaction. Features such as mobile check-in/check-out, digital room keys, app-based room service, and AI-driven chatbots are becoming standard amenities even in budget accommodations. This trend is driven by the post-pandemic inclination towards minimal contact, operational efficiency, and technology-enabled convenience, enabling budget hotels to remain competitive and fulfill the evolving expectations of guests.

Rise of Hybrid Hospitality Models Blending Affordability with Experience

In response to shifting ...

Global hotels market size was USD 1,376.40 billion in 2023 and is expected to increase to USD 2,993.90 billion by 2032 at a CAGR of 9.14%.

Hospitality can be defined somewhat broadly as an industry that focuses on providing consumers with a means to participate in leisure activities, be that staying in a hotel or dining in a restaurant. It encompasses many industries, the largest of which are accommodation and food and drink services. In 2023, the global hospitality market reached over *** trillion U.S. dollars and was forecast to grow to around *** trillion U.S. dollars in 2024.

The size of the North America Hotels Market market was valued at USD 40.16 Million in 2023 and is projected to reach USD 71.09 Million by 2032, with an expected CAGR of 8.50% during the forecast period. Recent developments include: July 2023: Choice Hotels acquired Radisson Hotel Group Americas. The deal was worth around $675 million, and with this deal, Choice Hotels acquired nine new brands, 624 hotels, and over 67,000 rooms., November 2022: Hyatt Hotel Corporation and Dream Hotel Group reached an agreement whereby Hyatt acquired Dream Hotel Group's lifestyle hotel brand and management platform, including the Dream Hotels, Chatwal Hotels, and Unscripted Hotels brands, with properties in some of the world's most prominent hotel markets across the Americas, Europe, and Asia., October 2022: Marriott International reached an agreement with Hoteles City Express, S.A.B. de C.V., to acquire the highly regarded City Express brand portfolio. The portfolio comprises 152 hotels, including 17,356 rooms across 75 cities in Mexico and three additional countries in Latin America. With this acquisition, Marriott is poised to become the largest hotel company in the Caribbean and Latin America, expanding its presence significantly in secondary and tertiary markets in the region.. Key drivers for this market are: Growing Popularity of Museums, Historical Sites, Zoos and Park is driving the Market Growth, Digitalized Experiences is Driving the Market. Potential restraints include: Distinct institutional cultures and values, Adapting to the changes in technology is tough for the Institutions. Notable trends are: North America Dominates the Luxury Hotel Segment Globally.

The global beach hotels sector remains highly competitive, with multinational hotel chains, regional players, and boutique resorts competing for market share. Large hospitality groups dominate through strategic acquisitions, digital transformation, and premium offerings, while boutique and eco-friendly resorts attract guests with unique experiences and sustainability initiatives.

Market Share by Key Players

The United States Hospitality Market Report is Segmented by Chain Scale (Luxury, Upper Upscale, Upscale, and More), by Type (Service Apartments, Budget & Economy Hotels, and More), by Service Model (Full-Service, Select-Service, and More), by End-User, by Distribution Channel, by Ownership & Management Model, by Property Size, and by Region. The Market Forecasts are Provided in Terms of Value (USD).

The Asia-Pacific Luxury Hotel Market Report Segments the Industry Into by Room Type (Standard Luxury Room, Suites, and More), by Booking Channel (Direct Booking (Brand Website, Call Center), Online Travel Agencies (OTA), and More), by Service Type (Business Hotels, Airport Hotels, and More), and by Geography (India, China, and More). The Market Forecasts are Provided in Terms of Value (USD).

The size of the US Luxury Hotel Market market was valued at USD 73.10 Million in 2023 and is projected to reach USD 103.68 Million by 2032, with an expected CAGR of 5.12% during the forecast period. 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.

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Vietnam Hotel Market Size 2025-2029

The Vietnam hotel market size is forecast to increase by USD 5.33 billion, at a CAGR of 21.1% between 2024 and 2029.

The global hotel market is experiencing significant growth, driven by increasing affordability and rising disposable income levels among consumers. This trend is particularly evident in emerging economies, where the middle class is expanding and travel is becoming more accessible. Mobile check-in and hospitality technology enhance the guest experience, while big data analysis drives revenue optimization and cost control. Furthermore, the application of social media and internet penetration continues to transform the industry, enabling real-time bookings and customer engagement. However, the market faces challenges as well. Climate change and unexpected weather developments pose significant risks, leading to cancellations and operational disruptions.
Hotel operators must adapt to these dynamics by investing in sustainable practices and implementing robust risk management strategies. To capitalize on market opportunities and navigate challenges effectively, companies must stay agile and responsive, leveraging technology and data analytics to optimize operations and enhance the customer experience.

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

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In the dynamic hotel market, service quality continues to be a top priority, with environmental sustainability gaining significant attention. Disaster preparedness and operational excellence are essential for ensuring guest safety. Social media marketing and email campaigns foster brand awareness and loyalty. Energy efficiency and corporate social responsibility are key components of brand image. Online reputation management, review monitoring, and automated services are crucial for maintaining a positive guest journey.
Data analytics, customer relationship management, and digital transformation shape the industry's future. Cloud computing, voice assistants, and virtual concierge services streamline operations and improve guest personalization. Search engine optimization and paid advertising boost visibility, while security measures protect against cyber threats. Employee engagement and keyless entry systems contribute to operational efficiency and guest satisfaction.

How is this market segmented?

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

Application

  Tourist accommodation
  Official business


Type

  Chain hotels
  Independent hotels


Service

  Service apartments
  Mid and upper mid-scale hotels
  Budget and economy hotels
  Luxury hotels


Geography

  APAC

    Vietnam

By Application Insights

The tourist accommodation segment is estimated to witness significant growth during the forecast period. In the tourism industry, accommodation continues to dominate with a significant revenue share in 2024. The market is driven by both domestic and international travelers, with the latter holding a substantial impact. International tourism in Vietnam experienced a remarkable recovery, attracting approximately 17 million visitors in 2024, marking a 39.5% increase from the previous year. This increase contributed to a total revenue of 34,440 million USD. The government's initiatives to boost tourism activities have been instrumental in this growth. Customer experience is a crucial factor influencing travel decisions. Hoteliers focus on various aspects such as room types, customer segmentation, pricing strategies, and guest services to cater to diverse traveler needs.
Property management systems and hotel management systems facilitate operational efficiency and revenue management. Independent and budget hotels cater to different market segments, while luxury hotels and hotel chains offer premium experiences. Technology plays a pivotal role in the hospitality sector. Mobile apps, social media, and online travel agencies provide convenience and personalized services to guests. Artificial intelligence and yield management systems help optimize pricing and inventory. Meeting rooms and fitness centers cater to business and family travelers, respectively. Competitor analysis and channel management are essential for maintaining a competitive edge. Loyalty programs and guest relationship management ensure repeat business and positive guest feedback. Staff training and operational efficiency are vital for delivering excellent guest satisfaction. Global distribution systems and digital marketing expand reach and visibility. Hoteliers adopt various strategies, from room types and pricing to technology and guest services, to cater to diverse traveler needs and preferences. The market continues to evolve, with

The India Luxury Hotel Market Report is Segmented by Room Type (Standard Luxury Room, Suites, Villas/Bungalows, Penthouses & Presidential Suites), Booking Channel (Direct Booking, Online Travel Agencies, and More), Service Type (Business Hotels, Airport Hotels, and More, and Geography (North India, South India, West India, East & North-East India). The Market Forecasts are Provided in Terms of Value (USD).

Check Market Research Intellect's Five Star Hotel Market Report, pegged at 100 billion USD in 2024 and projected to reach 150 billion USD by 2033, advancing with a CAGR of 5.5% (2026-2033).Explore factors such as rising applications, technological shifts, and industry leaders.

Luxury Hotel Market Overview The global luxury hotel market is projected to reach a market size of 107.77 million units by 2033, growing at a CAGR of 7.90% during the forecast period 2025-2033. Rising disposable incomes, increasing urbanization, and a growing demand for premium travel experiences are driving the market's growth. Additionally, expanding tourism and corporate travel are contributing to the increased demand for luxury hotels. Key trends shaping the market include the rise of digital technologies, personalization, and sustainability. Market Segments and Key Players The luxury hotel market is segmented by service type, including business hotels, airport hotels, suite hotels, resorts, and other service types. The business hotels segment holds the largest market share due to the increasing demand for premium accommodation during corporate travel. Key players in the market include ITC HOTELS, Hyatt Corporation, Belmond Ltd, InterContinental Hotels Group PLC, Four Seasons Hotels Limited, Rosewood Hotels & Resorts, Shangri-La International Hotel Management Ltd, Marriott International Inc, Ritz-Carlton Hotel Company LLC, and Accor SA. The report provides insights into the competitive landscape, market dynamics, and growth opportunities in the luxury hotel market. Recent developments include: In November 2020, Paris-based hotel company Accor and London-based hospitality firm Ennismore entered exclusive negotiations to form what they are claiming will be the world's leading lifestyle operator in the hospitality sector. Through this all-share merger, a new autonomous asset-light entity will combine the Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25h, 21c Museum Hotels, Tribe, Jo&Joe, and Working From brands., In February 2020, London-based Hamilton Hotel Partners and Boston-based Pyramid Hotel Group completed the merger of the two businesses. The combined business or asset manages 141 hotels with 32,000 rooms across eight countries.. Key drivers for this market are: Growing Popularity of Museums, Historical Sites, Zoos and Park is driving the Market Growth, Digitalized Experiences is Driving the Market. Potential restraints include: Distinct institutional cultures and values, Adapting to the changes in technology is tough for the Institutions. Notable trends are: Increasing Digitization of Services and Online Booking on Apps and Websites.