Dublin, Sept. 20, 2024 (GLOBE NEWSWIRE) — The “Boutique Hotel Market Size, Share & Trends Analysis Report By Type (Luxury, Mid-Scale, Budget) By Traveler Type (Leisure Travelers, Business Travelers), By Booking Mode (Direct Booking, Travel Agents), By Region, And Segment Forecasts, 2024 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global boutique hotel market is anticipated to reach USD 40.26 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period, i.e. 2024 to 2030
The market is experiencing robust growth due to a rising demand for personalized and unique travel experiences. This category is particularly appealing to travelers seeking more than conventional hotel stays, favoring the tailored experiences offered by independent and boutique hotels. The appeal of such hotels is further supported by the success of soft branding strategies employed by major hotel chains, which integrate the charm of boutique properties with the reliability and rewards of established loyalty programs.
Opportunities in the market are expanding as businesses explore innovative approaches to attract and retain guests. The rise of digital platforms and social media has enabled boutique hotels to effectively showcase their unique offerings and connect with a broader audience. Additionally, the integration of technology, such as mobile key systems and digital guidebooks, enhances the guest experience and meets modern travelers’ expectations for convenience and efficiency.
The boutique hotel industry, known for its distinctive charm and personalized service, is experiencing dynamic shifts in 2024 as it adapts to emerging trends and evolving consumer preferences. With travelers increasingly seeking unique, immersive experiences, boutique hotels are capitalizing on these trends to set themselves apart in the competitive hospitality landscape. From eco-conscious travel and technology integration to personalized services and localized experiences, boutique hotels are redefining luxury and comfort.
In response to the growing environmental awareness among travelers, boutique hotels are embracing sustainable practices. This trend is driven by a significant shift towards eco-conscious travel, where guests prioritize minimizing their environmental impact. Boutique hotels are leading the way by implementing green measures such as energy-efficient systems, water conservation initiatives, and locally sourced food. For instance, hotels are partnering with sustainable travel companies to offer eco-friendly tours and experiences.
Boutique Hotel Market Report Highlights
- In 2023, luxury boutique hotels accounted for a significant revenue share of 53.10%. This dominant market position reflects their success in delivering high-end, personalized experiences that attract affluent travelers seeking exclusivity and superior service. The allure of luxury boutique hotels stems from their distinctive design, exceptional amenities, and meticulous attention to detail, distinguishing them from conventional accommodations.
- In 2023, leisure travelers contributed to over 70% of the market revenue, driven by increased spending and heightened interest in outdoor activities. The Regional Office of Sustainable Tourism’s August 2023 study reported that average daily spending by leisure travelers surged to USD 491, the highest in two decades.
- Revenue from bookings through online travel agencies are projected to grow at a CAGR of 7.9% from 2024 to 2030, driven by the growing use of digital platforms for travel planning. Major OTAs like Expedia and Booking.com provide extensive comparison tools and user reviews, while AI-driven recommendations and mobile apps such as Airbnb enhance convenience. The expansion into emerging markets like Southeast Asia and Latin America also supports this growth.
- In 2023, the market in North America accounted for 36.90% of the global market revenue. Travelers in North America are increasingly drawn to personalized and unique experiences, which boutique hotels deliver through distinctive design and tailored services. Major cities such as New York, Los Angeles, and Miami continue to attract high volumes of tourists, driving demand for boutique hotels that offer exclusive and high-end lodging options.
- Key players in the market are actively expanding and enhancing their portfolios to capture growing demand. Major hotel chains such as Marriott International, Hyatt Hotels Corporation, AccorHotels, and Hilton Worldwide have significantly increased their presence in the boutique segment. For example, Hilton Worldwide expanded its luxury offerings in 2024 by adding nearly 400 boutique hotels from the Small Luxury Hotels of the World (SLH) collection.
- As of June 2022, Ace Hotel, a key player in market successfully employed a locals-first strategy, expanding to 12 locations globally.
Companies Featured
- Marriott International, Inc.
- Accor
- Rosewood Hotel Group
- Kimpton Hotels & Restaurants
- The Hoxton
- Soho Boutique Hoteles
- Ace Hotel
- The Standard Hotels
- Hotel Indigo
- Joie de Vivre (Hyatt)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $25.04 Billion |
| Forecasted Market Value (USD) by 2030 | $40.26 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Type Outlook
2.3. Traveler Type Outlook
2.4. Booking Mode Outlook
2.5. Regional Outlook
2.6. Competitive Landscape Snapshot
Chapter 3. Boutique Hotel Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis Tools
3.4.1. Porter’s Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends & Preferences
4.3. Factors Affecting Buying Behavior
4.4. Consumer Product Adoption Trends
4.5. Observations & Recommendations
Chapter 5. Boutique Hotel Market: Type Estimates & Trend Analysis
5.1. Boutique Hotel Market, By Type: Key Takeaways
5.2. Type Movement Analysis & Market Share, 2023 & 2030
5.3. Market Estimates & Forecasts, by type, 2018 – 2030 (USD Billion)
5.3.1. Luxury
5.3.2. Mid-Scale
5.3.3. Budget
Chapter 6. Boutique Hotel Market: Traveler Type Estimates & Trend Analysis
6.1. Boutique Hotel Market, By Traveler Type: Key Takeaways
6.2. Traveler Type Movement Analysis & Market Share, 2023 & 2030
6.3. Market Estimates & Forecasts, by traveler type, 2018 – 2030 (USD Billion)
6.3.1. Leisure Travelers
6.3.2. Business Travelers
6.3.3. Others
Chapter 7. Boutique Hotel Market: Booking Mode Estimates & Trend Analysis
7.1. Boutique Hotel Market, By Booking Mode: Key Takeaways
7.2. Booking Mode Movement Analysis & Market Share, 2023 & 2030
7.3. Market Estimates & Forecasts, by booking mode, 2018 – 2030 (USD Billion)
7.3.1. Direct Booking
7.3.2. Travel Agents
7.3.3. Online Travel Agencies
Chapter 8. Boutique Hotel Market: Regional Estimates & Trend Analysis
8.1. Boutique Hotel Market: Regional Outlook
8.2. Regional Marketplaces: Key Takeaways
8.3. Market Estimates & Forecasts, by region, 2018 – 2030 (USD Billion)
Chapter 9. Boutique Hotel Market: Competitive Analysis
9.1. Recent developments & impact analysis, by key market participants
9.2. Company Categorization
9.3. Participant’s Overview
9.4. Financial Performance
9.5. Service Benchmarking
9.6. Company Market Share Analysis, 2023 (%)
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.9. Company Profiles
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Portfolios
9.9.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/75633y
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