Market Research Report
Global Boutique Hotels Market Size study, By Type (Business Hotel, Suite Hotels, Airport Hotels, Resorts Hotels) By Application (Travelers, Educational Trips, Friends & Family Trip), and Regional Forecasts 2022-2028
|Global Boutique Hotels Market Size study, By Type (Business Hotel, Suite Hotels, Airport Hotels, Resorts Hotels) By Application (Travelers, Educational Trips, Friends & Family Trip), and Regional Forecasts 2022-2028|
Published: July 5, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Boutique Hotels Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. The Boutique Hotels can be defined as a smaller, upscale, luxury hotel. In comparison with traditional hotels boutique hotels offer a distinct personality, intimate experience, and highly personalized service. Boutique hotels are located posh & upscale neighborhoods of cities and generally do not offer more than 100 rooms. The growing Hotel industry in Post covid era and increasing occupancy rate in luxury hotels as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista - as of 2022, revenue in worldwide hotel segment is estimated at USD 300 billion, and the revenue is projected to grow to USD 485 billion by end of 2026. Furthermore, leading market players in hospitality sector are working towards expansion in boutique hotel sector to leverage the increasing demand for Boutique Hotels Market. For instance, in October 2021, ITC Hotel launched its new destination-led luxury brand called Mementos. Under this new brand Mementos, the hospitality group would open boutique luxury hotels across various destinations. Moreover, in April 2022, Espire hospitality Group launched a new luxury boutique resort brand named ZANA in India. Under ZANA brand the first property would be a 30 rooms lakeside resort in Udaipur. Also, growing emergence of leased franchised hotel chains as well as rapid urbanization in emerging economies are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a lack of penetration in developing regions impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Boutique Hotels Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing trend of low budget luxury hotels and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the rapid urbanization and increasing penetration franchised hotel chains, would create lucrative growth prospects for the global Boutique Hotels Market across the Asia Pacific region.
Major market players included in this report are:
ITC Hotels Limited
The Indian Hotels Company Limited
Jumeirah International LLC
Mandarin Oriental International Limited
Four Seasons Holdings Inc.
Shangri-La International Hotel Management Ltd.
Triple Creek Inn
Starwood Hotels & Resorts
InterContinental Hotels Group PLC
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 eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available 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:
Friends & Family Trip
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Boutique Hotels Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures