Global Resort Hotel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Resort Hotel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A Resort Hotel is a full-service lodging facility, intended primarily for vacationers and usually located in places frequented for relaxation or recreation, such as beaches, seashores, scenic or historic areas, ski parks, spas.

The difference to a simple hotel lies in the range of services and amenities offered. A Resort Hotel typically includes entertainment and recreational activities, which sets it apart from smaller-scale city hotels, B&Bs or boutique hotels.

Market Overview:

The latest research study on the global Resort Hotel market finds that the global Resort Hotel market reached a value of USD 62353.52 million in 2022. It’s expected that the market will achieve USD 14524.01 million by 2028, exhibiting a CAGR of -21.56% during the forecast period.

Short-term Impact

According to the World Travel & Tourism Council (WTTC) latest Economic Impact Report (EIR). In 2021, the GDP of travel and tourism is still 33.7% lower than the level of 1.5 trillion USD in 2019, partly due to the influence of omicron variant and the restoration of strict travel restrictions in various countries. Before the pandemic, due to the sharp drop in international and domestic tourist spending during the pandemic, the contribution of travel and tourism in North America to the overall economy was 8.9% (USD 2.3 trillion) in 2019, and dropped to 5% (USD1.25 trillion) by 2020. Employment has also suffered an equally devastating blow. Between 2019 and 2020, the employment contribution decreased by nearly 35%. During the epidemic, the decrease of tourists and the restriction of transportation had a great impact on the Resort Hotel industry.

Long-term Impact

With the improvement of the epidemic, global economy and tourism are also recovering. The epidemic has changed consumers consumption concept, and consumers pay more attention to digital experience and contactless travel mode when traveling. The demand of resort hotel for non-contact technology has become the priority of the hospitality industry today.
Contactless technology enables resort hotel to contact guests and provide them with all the services and information they need for their stay and play. Using non-contact technology, resort hotel can interact with guests without face to face.

The change of consumer consumption concept and the improvement of living standard.

With the advent of the consumption upgrading era, consumers are no longer only satisfied with functional needs, but also pay more attention to quality of life, spiritual and cultural consumption, intelligent technology and other aspects, and put forward higher requirements for the quality, cultural connotation, diversification and personalization of hotels. Resort Hotel conform to the big development trend of the transformation from sightseeing to leisure and holiday tourism. Therefore, hotel operators speed up non-standardized new hotel products, meet the market consumption demand and promote the upgrading and development of the industry. The change of consumer consumption concept and the improvement of living standard is an important factor to promote market growth.

The labor cost of Resort Hotel enterprises will be more obvious

For enterprises, the labor cost of Resort Hotel will be more obvious. The main reasons for this high labor cost are as follows: The service experience of the resort hotel is the most important. Enterprises have great demand for workers with certain skills and proficiency. Enterprises will pay higher wages if they want to hire them. Moreover, when the actual development experience of these talents is mature, enterprises need to pay higher wages if they want to retain these talents. Secondly, in order to cultivate the ability and level of the company workers, it is necessary to train them regularly, or even go on business trips to study. However, a large amount of costs and expenses incurred in the process of personnel training can only be paid by enterprises themselves, thus increasing the cost burden of enterprises.

Region Overview:

In 2021, the share of the Resort Hotel market in Asia-Pacific stood at 32.32%.

Company Overview:

Marriott is one of the major players operating in the Resort Hotel market, holding a share of 2.14% in 2022.

Marriott

Marriott International, Inc. is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,100 properties in 30 leading hotel brands spanning 139 countries and territories.

MGM Resorts International

MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Massachusetts, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM.

Segmentation Overview:

By type, High-end hotel accommodation segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Leisure, with a market share of 77.41% in 2022.

Key Companies in the global Resort Hotel market covered in Chapter 3:

BTG Homeinn hotel group
Avari Hotels
Hilton
FOLIDAY
Banyan Tree Holdings
MGM Resorts International
Accor
Dalata Hotel Group
Wyndham Hotels & Resorts
Burj Al Arab Hotel
Intercontinental Hotels Group
Hyatt
Best Western Hotels
Wynn Resorts Limited
Dorchester Collection
Barrière
Aman Resorts
APA Group
Marriott

In Chapter 4 and Chapter 14.2, on the basis of types, the Resort Hotel market from 2018 to 2029 is primarily split into:

High-end hotel accommodation
Medium-end hotel accommodation
Low-end hotel accommodation

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Resort Hotel market from 2018 to 2029 covers:

Leisure
Business

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)