Floating Hotels Market: Global Industry Analysis and Forecast (2023-2029)

Floating Hotels Market size was valued at USD 4.68 Bn. in 2022 and the total Floating Hotels revenue is expected to grow at 6.5 % from 2023 to 2029, reaching nearly USD 7.28 Bn.
Floating Hotels Market Overview:
The construction of floating hotels along rivers has gained popularity during the past few years all over the world. These hotels are built on columns that are elevated from the water bed and are similar to other conventional hotels in that they have all the facilities. Many tourists visit the floating hotels, which are also popular honeymoon destinations for recently wed couples.

The demand for floating hotels has surged as more tourists are choosing quiet riverfront settings over busy cities. Increases in spending power, the tendency toward vacation travel, an increase in the population of the service class, and a variety of discounts and attractive online booking offers are all factors that contribute to the market's growth throughout the forecast period.To know about the Research Methodology :- Request Free Sample Report

The layout enables visitors to take advantage of a full-service hotel or, at their discretion, to retreat to a secluded area of the lake or river. Once at their location, visitors can swim, go fishing off the galley, or simply relax and take in the breathtaking views. The Millennium Yacht Design Award-winning Floating Hotel Design aims to open up inland waters and smaller rivers to the tourism industry, which have been prohibitively difficult for hotel developers or cruise ships to access in the past.
Report scope:
The primary objective of the research is to provide market investors with an in-depth understanding of the Floating hotel market. The study examines current, ongoing, and expected market trends. It also provides a straightforward analysis of complicated data. The key players, including new entrants, industry leaders, and followers, conduct research actively and thoroughly. Along with the possible effects of the market's microeconomic components, the analysis also displays the results of the PORTER and PESTEL assessments. Decision-makers will have a clear futuristic perspective of the market after taking into account internal and external factors that could have a positive or negative impact on the firm.

The research's market segmentation analysis and market size forecast can aid readers in better understanding the dynamics and composition of the floating hotel market. The study serves as a buyer's guide by analyzing the costs, financial standings, product portfolios, growth strategies, and regional presence of the top complementary and alternative medicine companies in a transparent, comparative manner.
Research Methodology:
To evaluate and analyze the Floating Hotel Market, MMR first collected information on the revenues of the major providers. The market is divided into segments based on vendors' product offerings for by room type (Single Occupancy, Double Occupancy), Price Range (Premium, Mid, Low), and Booking channel (Online,Offline). Later, to verify these divisions through primary research, extensive interviews with prominent individuals, including chief executive officers (CEOs), vice presidents (VPs), directors, and executives, were done.

To estimate the size of the market, bottom-up methods are used. The top market players in the floating hotel sector are identified through primary and secondary research, and their market revenues are calculated. Rather than relying on secondary research, the annual and financial reports of the major manufacturers were examined, and influential opinions and business leaders in the sector, such as CEOs and marketing executives, were canvassed. Floating and rotating hotel tower, Conrad Maldives, Dragon Inn, Four Seasons, Punta Caracol Acqua Lodge are some of the major players in the global floating hotel industry. Throughout the course of the forecast year, they will continue to plan mergers and acquisitions to increase their market shares and growth potential.
Floating Hotels Market Dynamics:
Market Drivers:

The market for floating hotels is primarily driven by an increase in the desire to vacation, an increase in the number of people in the service class, and the appealing deals and discounts that floating hotels provide. Additionally, the floating hotel ensures vacations full of adventure, which are frequently chosen by families. This increases demand for floating hotels around the world because the package includes activities like swimming with dolphins and resting on beaches. Hotels inside of ships, portable air hotels, and other developments are trends in the construction and infrastructure of floating hotels.

Modern cruise ships are like large hotels, but the design process is completely different. They are homes to thousands of visitors, some for weeks at a time. The Symphony of the Seas, the largest cruise ship in the world, set sail for the first time in the fall of 2018. It has a capacity of 6,680 visitors and 2,200 staff, making it comparable in size to a small town or sizable resort hotel. The World, an opulent luxury ship that frequently orbits the world, sells apartments for between $2.6 million and $20 million. It is clear that travelers continue to still find living and vacationing on a ship to be magical.

Modern cruise ships have a wide range of attractions to keep passengers occupied while at sea, including theatres, waterslides, casinos, and a variety of bars and restaurants. Additionally, unlike resort hotels where the view is static, the view from a ship is always changing. The art of creating a hotel is considerably different from that of designing a cruise liner.

Market Restraints:

The floating hotel's location, which could not be the customer's choice, is a limiting factor. The rise of the floating hotel sector is being hampered by several issues, such as high rates for essential services given that it is a high-end segment of the hotel business. Additionally, guests are prevented from staying at the same hotel often or right away since they want to sample new locations and accommodations. The location of the floating hotel is another restriction that may not be what the customer would prefer.
Competitive Landscape:
In several nations, floating hotel chains are actively growing their operations and presence. To differentiate themselves from the competition and attract clients, several hotel firms are developing new promotions as well as niche markets and services.

HAADS plans to build the first floating eco-hotel in the peninsular republic of Qatar. The business set a goal completion date of 2025, which is almost as bold as the hotel itself. Qatar is constructing What sets the futuristic design apart from others is its singular ability to spin and produce clean energy, much like a huge hydro generator. According to the project guidelines given by HAADS, the hotel generates power by independently rotating its position and converting the energy of flowing water into electricity.
Floating Hotels Market Segment Analysis:
Based on Room Type, The Single Occupancy segment is expected to grow at the highest CAGR during the forecast period. The most popular choice for floating hotels is single occupancy because it gives a traveller more freedom. Single accommodations are perfect for people wishing to save money on lodging prices because single travellers can book their stay online or directly from the hotel and may also choose to travel alone.

Sharing a room with another person is referred to as double occupancy. For short-term visits such as business trips and vacations, double occupancy is frequently used. Until more permanent structures are created, they can also be utilized in disaster relief circumstances to give natural disaster or conflict victims refuge. Because of shifting populations, a changing environment, and more globalization, there is a greater need for temporary housing alternatives.

Based on Price Range, The Premium segment is expected to grow at the highest CAGR during the forecast period. People who are staying at the floating hotel tend to prefer upscale lodgings. Because the floating hotel offers several advantages, like gorgeous designs, fragrances, security, conference and event spaces, exceptional services, lovely rooms, great beds, and a wide range of amenities.

Based on Booking channel, The online segment is expected to grow at the highest CAGR during the forecast period. The websites of online travel agencies have been improved, making it simpler to choose hotels close to well-known hospitals (Agoda). Some hotels are even offering specialist training to staff who look after medical visitors. For instance, the Ramada Plaza Herradura in Costa Rica hired Massachusetts-based Medical Tourism Training Inc. to provide a two-session training course titled Caring for the Medical Tourist.

The most common booking method among guests is the internet." Online bookings are the most popular option for visitors staying in floating hotels. This is owing to how simple it is to utilize these booking platforms. The customer has access to a variety of lodging options, including hotels, hostels, and lodges. The COVID-19 outbreak has also changed consumer behavior, with most customers now preferring to book their holidays online rather than in person.
Floating Hotels Market Regional Insight
The floating hotel market is dominated by North America. During the forecast period, it is also expected that the trend of floating hotels will continue. The United States accounted for the largest revenue share in that market in 2022 since it is a major international financial hub and one of the most popular tourist destinations.

The Asia Pacific region is expected to grow significantly during the forecast period. Owing to these India has a long history of using floating hotels, which have served a variety of purposes at various eras. These houses are today regarded as affluent, nonetheless. For instance, the Taj Lake Palace is a famous and elegant floating hotel that is a recognized landmark. Some of the richest and most famous people have lived in this luxurious home, which is perfectly positioned on the waters of the man-made Lake Pichola. Any James Bond enthusiast will know that the area was used for the 1983 filming of the Hollywood film Octopussy.
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Floating Hotels Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 4.68 Bn.


Forecast Period 2023 to 2029 CAGR:
6.5%
Market Size in 2029:
US $ 7.28 Bn.


 Segments Covered:
by Room Type
Single Occupancy
Double Occupancy


by Price Range
Premium
Mid
Low


by booking channel
Online
Offline



Floating Hotels Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Floating Hotels Market, Key Players are
1. Floating and rotating hotel tower
2. Conrad Maldives
3. Dragon Inn
4. Four Seasons
5. Punta Caracol Acqua Lodge
6. River Kwai Jungle Rafts
7. The Queen Mary
8. Bora Bora Lagoon Resort & Spa
9. ReefWorld
10. Aerohotel
11. Floating & Rotating Hotel Tower
12. Oberoi Udaivilas
13. King Pacific Lodge
14. Punta Caracol
15. Soneva Gili by Six Senses,
16. Queen Mary Long Beach
17. Catamarans
18. Aqua Mekong
19. Zambezi Queen
20. Sunborn

FAQs:

1. Which is the potential market for the Floating Hotels in terms of the region?
Ans. In APAC region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Floating Hotels in educational institutes

3. What is expected to drive the growth of the Floating Hotels Market in the forecast period?
Ans. A major driver in the Floating Hotels Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Floating Hotels Market?
Ans. Floating Hotels Market size was valued at USD 4.68 Billion in 2022 and the total Floating Hotels revenue is expected to grow at 6.5 % through 2023 to 2029, reaching nearly USD 7.28 Billion.

5. What segments are covered in the Floating Hotels Market report?
Ans. The segments covered are Room Type, Price Range, Booking Channel and, Region.