Boutique hotels will see more advancements in
technological integration, which will improve visitor experiences
while preserving a customized touch. These consist of AI-powered
concierge services, smart room controls, mobile check-in and
check-out, and immersive digital experiences.
WILMINGTON, Del., Aug. 9, 2024
/PRNewswire/ -- Allied Market Research published a report,
titled, "Boutique Hotels Market by Type
(Business Hotels, Suite Hotels, Airport Hotels, Resorts Hotels, and
Others), Booking Channel (Phone Booking, Online Booking, and In
Person Booking), Tourist Type (Domestic, and International), Tour
Type (Independent Traveler, Package Traveler, and Tour Group),
Gender (Men, and Women), and Age Group (15-25 Years, 26-35 Years,
36-45 Years, 46-55 Years, and 66-75 Years) : Global Opportunity
Analysis and Industry Forecast, 2024-2033". According to the
report, the boutique hotels market was valued at $9.8 Billion in 2023, and is estimated to reach
$18.0 Billion by 2033, growing at a
CAGR of 6.4% from 2024 to 2033.
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Prime determinants of growth
One of the main factors driving the boutique hotel industry's
expansion is the shift in consumer preferences toward customized
and distinctive travel experiences. With their own appeal and
personalized services, boutique hotels are well-positioned to meet
the demands of guests who are seeking authenticity and local
immersion. Technological developments facilitating smooth booking
processes and customized amenities also support market expansion.
Furthermore, guests who care about the environment are attracted to
boutique hotels because of the focus on sustainability and
eco-friendly methods. Finally, strategic alliances and partnerships
in the tourism sector promote market accessibility and awareness,
which creates opportunities for boutique hotel operators to
expand.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2035
|
Base
Year
|
2023
|
Market Size in
2023
|
$9.8
billion
|
Market Size in
2035
|
$20.7
billion
|
CAGR
|
7.1 %
|
No. of Pages in
Report
|
488
|
Segments
Covered
|
Type, Booking Channel,
Tourist Type, Tour Type, Gender, Age Group, and
Region
|
Drivers
|
- Technological
Advancements
- Sustainability and
Eco-friendliness
- Experiential Travel
Trend
|
Opportunities
|
- Digital Marketing
and Distribution
- Adaptation to
Changing Consumer Preferences
|
Restraints
|
- High Operating
Costs
- Regulatory
Challenges
|
Segment Highlights
Business visitors looking for individualized experiences are
driving an increase in the boutique hotel industry. These hotels
serve the demands of discerning professionals and are frequently
distinguished by their cozy atmosphere and distinctive design
aspects. Boutique hotels are a welcome change from conventional
corporate lodging, with elegant facilities, modern technology, and
convenient positions in important business areas. They design
spaces useful for work and activities, emphasizing great service
and meticulous attention to detail. The boutique hotel market is
flourishing because it fulfills a unique niche in the larger
hospitality sector, catering to business visitors who value
distinctiveness and authenticity more than ever.
Online reservations for boutique hotels have increased
significantly, driven by customers looking for distinctive and
customized experiences. Boutique hotels have benefited from this
trend by improving their online presence and expediting booking
procedures as more travelers are using digital platforms to explore
and make reservations. These boutique hotels provide a wide range
of choices catered to specific preferences, from stylish urban
hideaways to quiet rural getaways. With just a few clicks, tourists
can book their perfect boutique stay with ease due to online
booking platforms' easy access to comprehensive descriptions,
photographs, and customer reviews.
The market for boutique hotels is ideal for the discriminating
independent traveler looking for one-of-a-kind and customized
experiences. These cozy lodgings offer an alternative to chain
hotels' conventional approach by prioritizing individuality, charm,
and frequently a sense of place. Boutique hotels, which have fewer
rooms, emphasize personalized service and carefully chosen
facilities to create an atmosphere of intimacy and exclusivity.
Often located in trendy areas or historic districts, they strive to
fully immerse guests in the heart of their destination through
stylish decor and customized services. Boutique hotels provide
travelers who are independent and looking for a little luxury mixed
with authenticity with a memorable stay catered to their
preferences.
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Regional Outlook
Various regional characteristics are exhibited by the market for
boutique hotels. The U.S. leads North
America in terms of the flourishing boutique hotel industry,
especially in major cities like Los
Angeles and New York City.
With France, Italy, and the UK portrayed as important
marketplaces, Europe has many
boutique products. Boutique hospitality is expanding rapidly in
Asia-Pacific, attracting affluent
tourists looking for one-of-a-kind experiences in places like
Thailand, Bali, and Japan. Emerging markets in Africa and Latin
America are also growing, as boutique hubs like Cape Town and Buenos
Aires establish themselves. The global need for customized,
immersive travel experiences is evident from regional outlooks
taken as a whole.
Players: -
- Nine Hours
- Container Hotels
- Tubohotel
- The Pod Hotel
- Rolling Huts Boutique Hotels
- Koyasan Guest House
- Yotel Hotels
- Others
The report provides a detailed analysis of these key players in
the global boutique hotels market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different regions. The
report is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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Recent Developments:
- In September 2023, the Postcard
Hotel was once again the recipient of many major awards, including
the esteemed title of "Asia's
Leading Boutique Hotel" from the 2023 World Travel Awards. The
hotel's position as an unmatched leader was strengthened by the
overwhelmingly positive response and acknowledgment.
- In March 2024, Avari Hotels
announced the pre-launch of two remarkable hotels. These are the
Avari Express in Skardu and the Avari Boutique in Gujranwala. Both
leisure and business travelers will have experiences like no other
at these unique hotels.
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