Global Hotels, Resorts, And Cruise Lines Market Size study & Forecast, by Type (Hotels, Resorts and Cruise Lines), and Regional Analysis, 2022-2029

Global Hotels, Resorts, And Cruise Lines Market Size study & Forecast, by Type (Hotels, Resorts and Cruise Lines), and Regional Analysis, 2022-2029

Global Hotels, Resorts, And Cruise Lines Market is valued at approximately USD 524.1 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 17.40% over the forecast period 2022-2029. The travel and tourist industry has a direct relationship with, and an impact on, the hotel and resort sector. The hotel and resort industry is expanding along with the travel and tourism sector. The increase is attributable to millennials and generation Z using hotels more frequently. The inclination of this group to have first-rate accommodations is expanding, which is fostering the industry's expansion. Additionally, the rising demand for hotel and resort stays is fueling the expansion along with the rising interest in travelling. Along with this, rising number of international tourism and rising disposable income are driving the growth of the market over the forecast period.

For instance, based on information made public by the United Nations World Tourism Association, it is estimated that 710 million foreign travelers visited Europe in 2018. For instance, India's disposable income increased to USD 2,937,239.52 million in 2019 from USD 2,818,144.54 million the year before, according to Trading Economics. Additionally, it is projected that the increased number of business travelers to this area would increase the sales of the market. For instance, corporate travel expenditures have increased by 11.4 percent annually in India, according to statistics from Travel Trends Today released in May 2018. However, high cost of hotels, resorts and cruise lines is restraining the market growth over the forecast period.

The key regions considered for the Global Hotels, Resorts, And Cruise Lines Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to expansion of the regional market including strong consumer expenditure in the leisure, travel, and tourism sectors as well as high consumer disposable income. Along with this, Asia Pacific is growing with the fastest CAGR over the forecast period. Major driving factors for the region are increase in business trips to the area. The expansion is also credited to the rising disposable income and purchasing power of people. As a result, the aforementioned elements are fueling the expansion of the local industry.

Major market players included in this report are:
Marriott International, Inc.
Wyndham Hotel Group, LLC.
Hilton Worldwide Holdings Inc.
InterContinental Hotels Group PLC
Hyatt Hotels Corporation
Host Hotels & Resorts Inc.
Huazhu Hotels Group Ltd
Carnival Corporation & plc
Royal Caribbean Group
Norwegian Cruise Line Holdings Ltd.

Recent Developments in the Market:
 Best Western Hotels & Resorts announced in February 2019 that it has acquired World Hotels, a group of international hotels and resorts.
 The expansion of their collaboration to more than 200 hotels was announced by World of Hyatt and Small Luxury Hotels in May 2020.

Global Hotels, Resorts, And Cruise Lines Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Type:
Hotels
Resorts
Cruise Lines

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Marriott International, Inc.
Wyndham Hotel Group, LLC.
Hilton Worldwide Holdings Inc.
InterContinental Hotels Group PLC
Hyatt Hotels Corporation
Host Hotels & Resorts Inc.
Huazhu Hotels Group Ltd
Carnival Corporation & plc
Royal Caribbean Group
Norwegian Cruise Line Holdings Ltd.

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