Le Lézard
Classified in: Tourism and vacations, Transportation
Subject: MRR

Hotels, Resorts, and Cruise Lines Market Share Projected to be Worth USD 3,087.27 Billion By 2032, at 17.5% CAGR: Report by Polaris Market Research


NEW YORK, Dec. 1, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Hotels, Resorts, and Cruise Lines Market Share, Size, Trends, Industry Analysis Report, By Type (Hotels, Resorts, and Cruise Lines); By Sales Channel; By Region; Segment Forecast, 2023- 2032" published by Polaris Market Research in its research repository.

According to [110+ Pages] research report, the global Hotels, Resorts, and Cruise Lines Market size & share is predicted to grow from USD 618.35 billion in 2022 to USD 3,087.27 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 17.5% from 2023 to 2032, according to the latest report by Polaris Market Research.

Global Hotels, Resorts, and Cruise Lines Market: Report Overview

The travel sector is made up of a variety of enterprises that are catered to by resorts, hotels, and cruise lines. While resorts offer a more complete experience and frequently include extra amenities like spas, golf courses, and fine cuisine, hotels only offer accommodation services. On the other side, cruise lines offer a distinctive kind of vacation by combining lodging, food, and entertainment on floating ships that visit different locations.

Moreover, modern travelers look for experiences that go beyond the typical conveniences. They dream of real, immersive experiences with regional surroundings and cultures, which raises the need for hotels, resorts, and cruise lines market demand. In response, lodging establishments, resorts, and cruise lines have created one-of-a-kind experiences, including adventure trips, food tours, and cultural immersions.

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Who are the key Players in the Hotels, Resorts, and Cruise Industry?

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Important Highlights from the Report

Hotels, Resorts, and Cruise Lines Market Details

Report Attributes

Details

Market value in 2023

USD 724.83 billion

Market value in 2032

USD 3,087.27 billion

CAGR

17.5% from 2023 ? 2032

Base year

2022

Historical data

2019-2021

Forecast period

2023-2032

 

Market's Prime Determinants of Growth, Trends, and Opportunities

Growth Drivers

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Trends and Opportunities

Segmental Analysis

Due to the growing middle class and rising disposable incomes, which have sparked a travel boom and increased demand for lodging, the hotels segment held the largest hotels, resorts, and cruise lines market share in 2022 and is expected to maintain this position throughout the forecast period. An increased inclination for experience travel, where lodging is seen as an essential part of the trip, is what is driving this trend.

Moreover, over the course of the forecast period, the resort sector is anticipated to increase at the fastest rate. This increase is explained by consumers' growing preference for luxury and leisure travel. Resorts provide a number of benefits, such as comfort, convenience, and a relaxing atmosphere. Additionally, they offer a wide range of both indoor and outdoor activities, which enhances the visitor experience.

For hotels and resorts, walk-ins, direct phone reservations, and travel agents are still essential. Travel agencies are an important offline channel since some customers want individualized attention and professional guidance.

Additionally, direct phone bookings provide a personal touch, particularly for complex reservations or customized needs. Walk-ins accommodate tourists looking for quick lodging by offering last-minute options and impromptu bookings. Offline channels still cater to a wide range of customers, highlighting the lasting value of interpersonal relationships in the hospitality industry.

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Regional Insights

Which Region is Leading in the Hotels, Resorts, and Cruise Industry?

North America: The hotels, resorts, and cruise lines market in North America is a vibrant and varied industry. It serves a broad range of guests with a variety of alternatives, from world-class cruise experiences to urban boutique hotels and luxury resorts in seaside paradises. North America is a popular travel destination because of its famous cities, gorgeous scenery, and rich cultural heritage.

Asia Pacific: Asia Pacific is projected to be the fastest projected hotels, resorts, and cruise lines market growth. It is home to an abundance of natural and cultural attractions, including immaculate natural landscapes and historic landmarks. With millions of visits each year, these offers have a strong attractiveness for tourists looking for engaging and stimulating experiences.

Browse the Detail Report "Hotels, Resorts, and Cruise Lines Market Share, Size, Trends, Industry Analysis Report, By Type (Hotels, Resorts, and Cruise Lines); By Sales Channel; By Region; Segment Forecast, 2023- 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/hotels-resorts-and-cruise-lines-market      

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Key Questions Answered in the Report

Polaris Market Research has segmented the hotels, resorts, and cruise lines market report based on type, sales channel, and region:

Hotels, Resorts, and Cruise Lines, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Hotels, Resorts, and Cruise Lines, Sales Channel Outlook (Revenue - USD Billion, 2019 - 2032)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research


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