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The floating hotels market share is expected to increase by USD 1.94 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.31%.
This floating hotels market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the floating hotels market segmentation by price range (premium, super premium, and regular) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The floating hotels market report also offers information on several market vendors, including Alila Hotels and Resorts, Aqua Expeditions, Archello BV, COMO Hotels and Resorts, Conrad Maldives Rangali Island, Four Seasons Hotels Ltd., MEYER Floating Solutions Ltd., Poovar Island Resort, River Kwai Jungle Rafts, Salt and Sill, SAS CITY FLOATING AUSTERLITZ, Secret Retreats, Solent Forts, Sunborn London, The Manta Resort, The Zambezi Queen Collection, Unique and Unusual Hotels, and Village Flottant de Pressac Etang du Ponteil among others.
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Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the floating hotels market. During the COVID-19 pandemic, the floating hotels market demand has been impacted significantly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.
Key Floating Hotels Market Driver
Growing disposable income among travelers is one of the key factors driving the floating hotels market growth. The rise in consumer disposable income in North America in recent years has also led to increased spending on travel activities. It has increased the number of floating hotels. For instance, from 2000 to 2022, the disposable per capita income in Canada increased by around 60%. In Canada, on average, households spent 2.09% of their gross-adjusted disposable income on leisure activities. Hence, the rising disposable income leads to an increase in the purchasing power of travelers, which will drive the growth of the market during the forecast period.
Key Floating Hotels Market Trend
Growth in travel and tourism globally is one of the key floating hotels market trends fueling the market growth. The demand for floating hotels is expected to increase globally during the forecast period due to the rising demand for air travel and tourism. For instance, the government of China has committed to adding more than 30 civil aviation airport facilities with a targeted capacity of two billion passengers during the 14th Five-Year Plan period. According to the data provided by the Civil Aviation Administration of China (CAAC), during 2016-2020, 43 airports were built or relocated in the country. Furthermore, 241 airports were granted permission to engage in nationwide operations. These factors will promote the growth of the tourism industry in the country, which, in turn, will positively impact the floating hotels market during the forecast period.
Key Floating Hotels Market Challenge
The negative impact of COVID-19 is one of the key factors challenging the floating hotels market growth. According to the United Nations World Tourism Organization (UNWTO), in January 2022, 21% of all international tourist destinations still had their borders closed to tourists. More than 50 countries imposed border controls. This was to curb the spread of the Omicron variant of COVID-19. Such travel restrictions negatively affected the growth of the global floating hotels market.
This floating hotels market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global floating hotels market as a part of the global leisure facilities market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the floating hotels market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the floating hotels market encompasses successful business strategies deployed by the key vendors. The floating hotels market is fragmented, and the vendors are deploying growth strategies such as better amenities, services, and costs and offering discounts to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report floating hotels market contains comprehensive market knowledge and an in-depth vendor landscape added on to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the floating hotels market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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38% of the market’s growth will originate from APAC during the forecast period. Singapore, Thailand, and the Maldives are the key markets for the floating hotels market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increase in spending by Millennials on travel activities will facilitate the floating hotels market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market. However, since H2 2021, the number of COVID-19 cases in the region reduced due to the availability of vaccines. Thus, regional floating hotels witnessed high demand for accommodation in their hotels in H2 2021. Such factors are expected to fuel the growth of the regional market during the forecast period.
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The floating hotels market share growth in the premium segment will be significant during the forecast period. Consumers prefer all types of hospitality services, such as gorgeous interior designs, comforts, and others. Such factors are propelling the demand for premium accommodation in the premium price range segment among consumers. This, in turn, is expected to fuel the growth of the premium price range segment in the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the floating hotels market size and actionable market insights on the post-COVID-19 impact on each segment.
Floating Hotels Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.31% |
Market growth 2022-2026 |
$1.94 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.52 |
Regional analysis |
North America, APAC, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key consumer countries |
US, Singapore, Thailand, Maldives, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Alila Hotels and Resorts, Aqua Expeditions, Archello BV, COMO Hotels and Resorts, Conrad Maldives Rangali Island, Four Seasons Hotels Ltd., MEYER Floating Solutions Ltd., Poovar Island Resort, River Kwai Jungle Rafts, Salt and Sill, SAS CITY FLOATING AUSTERLITZ, Secret Retreats, Solent Forts, Sunborn London, The Manta Resort, The Zambezi Queen Collection, Unique and Unusual Hotels, and Village Flottant de Pressac Etang du Ponteil |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Price Range
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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