Overview and Scope
Floating hotels refer to accommodation facilities built on or designed to float on water bodies such as rivers, lakes, or oceans. These floating hotels offer a unique travel experience, combining the comfort and convenience of a hotel with the excitement of exploring various destinations during the voyage.
Sizing and Forecast
The floating hotels market size has grown strongly in recent years. It will grow from $4.52 billion in 2023 to $4.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to novelty and uniqueness, tourism growth, urban development, event hosting, environmental considerations.
The floating hotels market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to experiential travel demand, luxury and high-end market growth, coastal and island tourism, remote work and stay, infrastructure development. Major trends in the forecast period include sustainability emphasis, technological integration, modularity and adaptability, health and wellness offerings, cultural immersion.
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Segmentation & Regional Insights
The floating hotels market covered in this report is segmented –
1) By Room Type: Single Occupancy, Double Occupancy
2) By Price Range: Premium, Mid, Low
3) By Booking Channel: Phone Booking, Online Booking, In-Person Booking
North America was the largest region in the floating hotels market in 2023. The regions covered in the floating hotels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for cruise tourism is expected to propel the growth of the floating hotels market going forward. Cruise tourism refers to the industry and practice of traveling on cruise ships for leisure, recreation, and tourism purposes. Floating hotels are a unique and exciting concept for cruise tourism, offering a range of benefits and possibilities, such as extended stay accommodation, expedition base camps, and event venues. For instance, in May 2023, according to Tourism Review Media, a UK-based travel and tourism news portal, in Turkey, 1,500 cruise ships and over 1.5 million passengers traveled in 2023, and cruise passengers are expected to reach 2.3 million in 2024. Therefore, increasing demand for cruise tourism is driving the growth of the floating hotels market.
Key Industry Players
Major companies operating in the floating hotels market report are Marriott International Inc., Hilton Worldwide Holdings Inc., Four Seasons Hotels Ltd., Accor Group, The Ascott Limited, Karisma Hotels & Resorts, COMO Hotels and Resorts Pte. Ltd., Indian Hotels Company Limited, Ginger Hotels, Alila Hotels And Resorts Pte. Ltd., The Queen Mary, Aqua Expeditions Pte. Ltd., Montreal Alouettes, King Pacific Lodge, Huvafen Fushi, Archello BV, The Manta Resort, Poovar Island Resort, Sunborn London, SeaVentures Inc., Fregate Island Private, Oberoi Hotels & Resorts, Salt & Sill, Off Paris Seine, Pangu 7 Star Hotel Beijing
The floating hotels market report table of contents includes:
1. Executive Summary
2. Floating Hotels Market Characteristics
3. Floating Hotels Market Trends And Strategies
4. Floating Hotels Market – Macro Economic Scenario
5. Global Floating Hotels Market Size and Growth
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31. Floating Hotels Market Other Major And Innovative Companies
32. Global Floating Hotels Market Competitive Benchmarking
33. Global Floating Hotels Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Floating Hotels Market
35. Floating Hotels Market Future Outlook and Potential Analysis
36.Appendix
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