The Floating Hotels Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Floating Hotels Global Market Report 2024, The floating hotels market size has grown strongly in recent years. It will grow from $4.52 billion in 2023 to $4.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to novelty and uniqueness, tourism growth, urban development, event hosting, environmental considerations.
The floating hotels market size is expected to see strong growth in the next few years. It will grow to $6.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to experiential travel demand, luxury and high-end market growth, coastal and island tourism, remote work and stay, infrastructure development. Major trends in the forecast period include sustainability emphasis, technological integration, modularity and adaptability, health and wellness offerings, cultural immersion.
The increasing demand for cruise tourism is expected to propel the growth of the floating hotels market going forward. Cruise tourism refers to the industry and practice of traveling on cruise ships for leisure, recreation, and tourism purposes. Floating hotels are a unique and exciting concept for cruise tourism, offering a range of benefits and possibilities, such as extended stay accommodation, expedition base camps, and event venues. For instance, in May 2023, according to Tourism Review Media, a UK-based travel and tourism news portal, in Turkey, 1,500 cruise ships and over 1.5 million passengers traveled in 2023, and cruise passengers are expected to reach 2.3 million in 2024. Therefore, increasing demand for cruise tourism is driving the growth of the floating hotels market.
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The floating hotels market covered in this report is segmented –
1) Floating Hotels Market By Room Type: Single Occupancy, Double Occupancy
2) Floating Hotels Market By Price Range: Premium, Mid, Low
3) Floating Hotels Market By Booking Channel: Phone Booking, Online Booking, In-Person Booking
Solar-powered floating hotels have emerged as a key trend gaining popularity in the floating hotels market. Solar-powered floating hotels are accommodation entirely powered by solar energy and float on the water's surface. Major companies operating in the floating hotels market are focused on developing innovative solar-powered hotels to sustain their position in the market. For instance, in 2021, Mantis Collection., a South Africa-based property management company, launched the Kivu Queen uBuranga, a solar-powered, motorized yacht floating hotel. It has advanced waste management and heating systems, making it a sustainable and environmentally friendly option for travelers. It includes three decks, ten cabins, a swimming pool, a hot tub, a wellness center, a restaurant, and a bar. It offers six luxury cabins, two deluxe, one VIP, and one presidential cabin.
The floating hotels market report table of contents includes:
1. Executive Summary
2. Floating Hotels Market Characteristics
3. Floating Hotels Market Trends And Strategies
4. Floating Hotels Market - Macro Economic Scenario
5. Global Floating Hotels Market Size and Growth
......
32. Global Floating Hotels Market Competitive Benchmarking
33. Global Floating Hotels Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Floating Hotels Market
35. Floating Hotels Market Future Outlook and Potential Analysis
36. Appendix
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