Global Hotels Market to Reach US$1.0 Trillion by 2030
The global market for Hotels estimated at US$732.3 Billion in the year 2024, is expected to reach US$1.0 Trillion by 2030, growing at a CAGR of 5.9% over the analysis period 2024-2030. Business / Commercial, one of the segments analyzed in the report, is expected to record a 5.6% CAGR and reach US$438.0 Billion by the end of the analysis period. Growth in the Boutique segment is estimated at 6.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$191.7 Billion While China is Forecast to Grow at 10.0% CAGR
The Hotels market in the U.S. is estimated at US$191.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$246.8 Billion by the year 2030 trailing a CAGR of 10.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.2% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
Global Hotels Market - Key Trends & Drivers Summarized
How Is The Rise In Travel And Tourism Influencing The Hotels Market?
The global hotels market is experiencing significant growth, driven by the rise in international travel and tourism. As disposable incomes increase and travel becomes more accessible, there is a growing demand for hotel accommodations across various segments, from luxury and boutique hotels to budget and economy options. The growth in business travel, the expansion of the middle class in emerging markets, and the popularity of experiential and leisure travel are further fueling demand for hotels worldwide. The COVID-19 pandemic has accelerated the shift towards domestic tourism and staycations, creating new opportunities for hotels to cater to local travelers and offer unique experiences that differentiate them from competitors.
What Technological Innovations Are Enhancing The Hotel Guest Experience?
Technological advancements are significantly enhancing the guest experience in the hotel industry, driving efficiency, personalization, and convenience. Innovations such as mobile check-in and check-out, contactless payments, and digital concierge services are improving operational efficiency and guest satisfaction. The integration of artificial intelligence (AI) and machine learning (ML) in hotel management systems is enabling personalized marketing, dynamic pricing, and tailored guest experiences based on preferences and behavior. Additionally, the use of Internet of Things (IoT) technology is creating smart rooms that offer automated controls for lighting, climate, and entertainment, providing a more comfortable and customizable stay. These technological developments are critical for meeting the evolving expectations of modern travelers and supporting hotel differentiation and growth.
How Are Market Dynamics And Consumer Trends Shaping The Hotels Market?
Market dynamics, such as the growing demand for sustainable and eco-friendly accommodations, the rise of alternative lodging options, and shifting consumer preferences towards unique and immersive experiences, are significantly shaping the hotels market. The increasing focus on sustainability is prompting hotels to adopt green practices, such as energy-efficient systems, waste reduction, and sourcing local and organic products, to appeal to environmentally conscious travelers. The rise of short-term rental platforms, such as Airbnb, is influencing hotel strategies, driving them to offer more personalized and authentic experiences. Additionally, the growing demand for wellness, adventure, and themed travel experiences is encouraging hotels to diversify their offerings and enhance their guest engagement strategies.
What Factors Are Driving The Growth Of The Hotels Market?
The growth in the hotels market is driven by several factors, including the rise in global travel and tourism, technological advancements in guest services, and evolving consumer preferences. A key driver is the increasing demand for diverse and unique accommodation options that cater to different traveler segments, from luxury and wellness to budget and business. The adoption of digital technologies and the focus on enhancing the guest experience through personalization and convenience are also supporting market growth. Additionally, the expansion of tourism infrastructure and the growth of the middle-class population in emerging markets are contributing to the demand for hotel accommodations. These factors, coupled with the ongoing development of sustainable and innovative hospitality concepts, are propelling the global hotels market forward.
SCOPE OF STUDY:TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!
APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook