Pune, 05, Dec, 2022: The report analysed by Maximize Market Research, the global consumer goods and services market research firm. Floating Hotels Market covers an extensive competitive and demand analysis in the report. Asia-Pacific is expected to witness significant growth while North America is expected to continue dominating the market according to the report. During the forecast period, the report expects the market to grow from USD 4.4 Billion in 2021 to USD 7.2 Billion in 2029 at a CAGR of 7.2 percent.
Floating Hotels Market Scope and Research Methodology
The report provides insights into the floating hotels market with information on current and future trends. It draws inferences from the data collected to present a report that is easy to understand with the help of data visualization. To understand the prevailing opportunities in the market, the growth rate of the market with estimations is provided in the report. For a better grasp of the competitive landscape, an analysis of major companies along with new entrants is conducted by services offered, revenue generated, financial status, portfolio, new product launches and adoption of technological advancement.
The floating hotels market is dominated by the North American region. To understand this scenario, the research conducts a regional analysis of the market equipped with information on their natural endowments, fierce marketing strategies, mergers and acquisitions, joint ventures and technological advancements adopted by them. The report strives to serve as a guide to investors for grabbing new investment pockets in the market, for new entrants to perceive the market better for developing their business stance for entering the market along with market share domination, market penetration, demand and pricing analysis and for market followers to better understand the Floating Hotels Market.
For an in-depth analysis of the services being offered, a segment-wise analysis of the Floating Hotels Market is conducted by Room Type, Price Range, Booking Channel and Region. Data is collected using both primary and secondary research methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. The report thus provides a comprehensive analysis of the Floating Hotels Market along with recommendations on investment and pricing strategies.
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Floating Hotels Market Overview
Built on riverside areas, floating hotels sit are ones that are stationed on water or are built over water. These hotels hold their structure with the use of stilts so that they do not sway. The structure usually has small cabin-like rooms with almost all the amenities and services offered by a normal hotel such as a restaurant, bar sauna and business rooms. There are variations in floating hotels ranging from hotels as high as two stories to smaller ones on canoes and kayaks.
Floating Hotels Market Dynamics
An increase in the number of people willing to travel is the key driver for the growth of the Floating Hotels Market. The rise in disposable income has increased the number of travellers opting for vacations. Discounts and special packages given to customers are also increasing the sales of floating hotels. Such packages include swimming on beaches, dolphin viewing and other adventures. Such developments are driving the Floating Hotels Market growth during the forecast period.
A shift in consumer preference for more serene, peaceful places has also contributed to the growth of the Floating Hotels Market. Many people are opting for places that are quiet and calming as their getaway instead of traditional options. Online booking allows customers the best and most lucrative offers to choose from for maximum satisfaction. Massive discounts and added features are also factors that are fuelling the growth of the Floating Hotels Market.
Floating Hotels Market Regional Insights
North America held the largest market share and is expected to hold onto the position throughout the forecast period. This regional growth is led by the U.S which held the largest share by revenue in 2022. Growth in the region is on account of it being popular among travellers. This is expected to increase further given the international events and increase in the standard of living. The Asia-Pacific region is also expected to witness significant growth for the forecast period.
Floating Hotels Market Segmentation:
By Room Type:
By Price Range:
By Booking Channel:
Floating Hotels Market Key Competitors include:
Key questions answered in the Floating Hotels Market are:
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