Beach Hotels Market Research, 2031
The global beach hotels market size was valued at $121,202.6 million in 2021, and is projected to reach $215,404.3 million by 2031, registering a CAGR of 4.6% from 2022 to 2031. Beach hotels are hotels located on or near the seaside or have a view of the sea. Several beach resorts provide travelers with private beaches as well as elegant lodging alternatives. Beach hotels provide a variety of activities such as hiking and surfing, water sports, and bicycling and facilities, such as physical fitness spa services, and so are quite popular among couples. One of the most important advantages of beach resorts is it provides mental relaxation. Vacationers preferring tranquil settings over congested ones has raised the demand for beach hotels.
Increase in per capita income in emerging nations, rise in people's purchasing power, surge in the tendency to travel for holiday, and various discounts given on online booking are projected to fuel market expansion during the beach hotels forecast period.
The beach hotels market is segmented on the basis of type, service type, occupants, and region. On the basis of type, the market is segmented into budget, standard, and premium. By service type, the market is segmented into accommodation, food & beverage, and others. On the basis of occupants, the market is segmented into solo and group. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, Sweden, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
By Type
Premium segment would exhibit the highest CAGR of 5.5% during 2022-2031, owing to the increased demand of luxurious beach hotels by the consumers in order to experience a premium experience.
On the basis of type, the standard segment gained a major share in the global beach hotels market in 2021 and is expected to sustain its market share during the forecast period. The standard segment was valued at $62,569.4 million in 2021 and is expected to reach $108,853.2 million by 2031, with a CAGR of 4.3%. The growth of this segment is due to the rapid increase of global consumers going for vacations and trips. Standard hotels are the most common type of hotel chosen by consumers as they offer appropriate services at a fair price.
By Service Type
Food & Beverages segment would exhibit the highest CAGR of 5.0% during 2022-2031, owing to the increasing openings of new restaurants by the hotels and introduction of new food items in their menu.
On the basis of service type, the accommodation segment was valued at $63,306.9 million in 2021 and is expected to reach $108,863.3 million by 2031, with a CAGR of 4.2%. As consumers prefer to eat outside at local foodservice joints instead of the hotel they stay in, accommodation is therefore the most common factor to consider while choosing a hotel for vacation. On the basis of occupants, the group segment was valued at $93,019.5 million in 2021and is projected to reach $162,273.8 million by 2031, registering a CAGR of 4.4%. Consumers prefer to go vacations with group rather than solo. Travelling in a group offers good company, and moreover, hotels offer lucrative discount options to group travelers than solo occupancy.
By Occupants
Solo segment would exhibit the highest CAGR of 5.2% during 2022-2031, owing to the increasing trend for solo travelling in consumers.
Region-wise, Europe dominated the beach hotels market in 2021, and is expected to be dominant during the forecast period, as a higher percentage of population prefers to go for vacation and visit the European countries.
According to the global beach hotels market analysis, the market players have adopted various developmental strategies to expand their beach hotels market share, increase profitability, and remain competitive in the market. The key players profiled in this report include, Accor S.A, Four Seasons Hotels Ltd., Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, ITC Ltd., Marriott International, Inc., Omni Hotels & Resorts, Radisson Hospitality, Inc., Rancho La Puerta Inc., and The Indian Hotels Company Limited.
By Region
Asia would exhibit the highest CAGR of 5.7% during 2022-2031, owing to the increase in beach tourism and increasing desire for experiencing beachfront view from hotels among consumers in the region.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current beach hotels market trends, estimations, and dynamics of the market size from 2022-2031 to identify the prevailing opportunities.
- The Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis along with market size and segmentation assist to determine the prevailing beach hotels market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the beach hotels market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the beach hotels industry.
Beach Hotels Market Report Highlights
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Analyst Review
The demand generation for the beach hotels market is seasonal in nature. The peak season experiencing very high demand varies from location to location. For instance, the peak season for beach hotels in Goa, India is during Christmas & New Year. Whereas, in Greece, which is well known for nightlife and partying, August is the most popular month for visiting the country.
The food and beverage segment in the service type is expected to increase at a rapid pace due to changing consumer lifestyles and rise in desire to consume exotic and local seafood.
The expansion of the beach hotels market may be ascribed to the expansion of the travel & tourism industry. The advent of low-cost carriers and government drives to boost national and international tourism are considerably assisting in the expansion of the travel & tourism industry and its service providers, including the beach hotels market.
The global beach hotels market size was valued at $121,206.2 million in 2021, and is estimated to reach $215,404.3 million by 2031, registering a CAGR of 4.6% from 2022 to 2031
The global beach hotels market registered a CAGR of 4.6% from 2022 to 2031.
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The forecast period in the beach hotels market report is from 2022 to 2031.
The top companies that hold the market share in beach hotels market include Accor S.A., Four Seasons Hotel, Ltd., Hilton Worldwide Holdings, Inc., Marriott International, Inc., and Radisson Hospitality, Inc.
The beach hotels market report has 3 segments. The segments are type, service type, and occupants.
The emerging countries in the beach hotels market is likely to grow at a CAGR of more than 5.5% from 2022 to 2031.
Asia-Pacific will dominate the beach hotels market by the end of 2031
Post COVID-19, the ease of lockdown, reopening of state, country, and international tourism is driving the recovery of the beach hotels market. On the other hand government are focusing on the promotion of beach tourism that is expected to attract travellers and will aid in the growth of the beach hotels market.
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