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Boutique Hotel Market is Estimated at US$ 93.37 Bn in 2022 and Projected to Reach US$ 115.80 Bn by 2032 – IHUB Partner Press Releases


11/24/2022, Newark // Future Market Insights, Inc. //

The  Boutique Hotel Market  is estimated at US$ 93.37 Billion in 2022 and is projected to reach US$ 115.80 Billion by 2032, at a CAGR of 6.7 % from 2022 to 2032.

The tourism industry is seen favorably by the federal government and local government, and Boutique, small, and medium-sized hotels can benefit from this programs by launching financing projects, advertising campaigns, and training programs. The travel and leisure sector supports the construction of hotels. It promotes social development and job creation within the region. It keeps millions of jobs in the hotel industry alive.

In order to raise awareness and boost ticket sales, the hotel industry is adopting cutting-edge social media marketing techniques, including Facebook. More customers are using booking applications due of their usability and convenience.

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Key Takeaways:

  • The North America and Asia Pacific regions hold a market share of ~28% and ~25% respectively.
  • The Covid-19 pandemic had a 45% impact on the value of the Boutique Hotel tourism.
  • Online booking channels lead the charts in Boutique Hotels tourism market booking channel segmentation.
  • Miami, Los Angeles, London, New York City, the USA, and UK are some of the most popular destinations for Boutique Hotel tourism
  • Promoting domestic tourism and supporting safe returns of international tourism.

Impact of COVID-19 on the Boutique Hotel Market

Governments and businesses will turn to the protection of their citizens as their top priority as the COVID-19-affected economies continue to spiral out of control. But governments and businesses will need to act quickly to deal with the impact of the slide in equities on global revenue and stock values.

Almost every region of the world has been impacted by COVID-19’s interruptions, and the hotel business has been among those most badly impacted. The travel bans were put into place, and they had a direct impact on hotel staff as well. The hotel and leisure industries are also working hard to understand and quantify the operational and financial ramifications for their companies while reacting rapidly and maintaining focus. Decisions to shut down lodging facilities, eateries, amusement parks, and theatres, as well as the general disruptive effects of the travel ecosystem.

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Who is winning?

To raise their market share, take advantage of market prospects, and boost market profitability, the companies in the Boutique Hotel business have employed a variety of developmental tactics. The top businesses are able to maintain their competitive advantage in the industry by offering all-inclusive packages and saving travellers the effort of browsing multiple channels for their trips.

Leading players operating in the Boutique Hotel industry are Hyatt Hotels, Four Seasons Holdings Inc., Mandarin Oriental International Limited, The Indian Hotels Company Limited, Jumeirah International LLC, Marriott International, Inc., Starwood Hotels and Resorts (Marriott), Starwood Hotels and Resorts (Marriott), Hyatt Hotels, ITC Hotels Limited, and Kerzner International Resorts, Inc.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global Boutique hotel tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.

The study divulges compelling insights on the Boutique hotel market based on hotel type (Business Hotels, Suite Hotels, Airport Hotels, Resorts Hotels, and others), booking channel (phone booking, online booking & in person booking), tourist type (domestic & international), tour type (independent traveller, tour group & package traveller), consumer orientation (men & women), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, 66-75 years), across seven major regions.

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Have a Look at Related Research Reports of Travel and Tourism Market Insights

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Bicycle Tourism Market Forecast: The Bicycle Tourism market is estimated to reach US$ 345.1 Mn in 2022. As per the report, sales are forecast to increase at a robust 14% CAGR, with the market valuation reaching US$ 1291.3 Mn by 2032.

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The post Boutique Hotel Market is Estimated at US$ 93.37 Bn in 2022 and Projected to Reach US$ 115.80 Bn by 2032 appeared first on Future Market Insights.

Source: Future Market Insights, Inc.

Release ID: 449844

Original Source of the original story >> Boutique Hotel Market is Estimated at US$ 93.37 Bn in 2022 and Projected to Reach US$ 115.80 Bn by 2032

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This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.





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