The 2021 global Standard Beach Hotels Market size was robust and is projected to have a steady revenue Compound Annual Growth Rate (CAGR) during the forecast period. The growth is attributed to the rapidly growing travel and tourism industry, increasing disposable income, and rising numbers of consumers going for vacations. Standard Beach Hotels, which are situated near the seashore or offer a sea-facing view with full lodging facilities and services, are gaining popularity due to their ability to provide peace and relaxation to customers. Customers prefer Standard Beach Hotels due to their peaceful locations and the rapidly growing hotels and resorts franchising across the globe. Standard Beach Hotels offer amenities such as spacious rooms, spas, gyms, private pools, swimming pools, and rooftop bars, but these services differ depending on the type of hotel (premium, standard, or budget-friendly).
Due to the increasing penetration of the internet, high adoption of smart devices, laptops, and smartphones, and rising literacy rates, people are gradually shifting to online reservations for Standard Beach Hotels. Customers can avail additional discounts through online booking. To cater to the rising demand for Standard Beach Hotels for family outings and trips, several companies are investing heavily in increasing their chain of hotels with well-developed infrastructure, aesthetic appeal, and additional amenities such as various outdoor activities including cruise rides, scuba diving, surfing, and windsurfing. However, the COVID-19 outbreak has drastically impacted the travel and tourism industry, resulting in losses due to the implementation of lockdown and social distancing rules. This is expected to limit market growth to a certain extent going ahead, despite changing lifestyle preferences, easy accessibility to transport facilities, and rising purchasing power expected to drive the global market revenue growth during the forecast period.
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Major Companies:
- ITC Limited
- Four Seasons Holdings, Inc.
- IHG Hotels & Resorts
- Hyatt Hotel Corporation
- Marriot International, Inc.
- Accor SA
- Shangri-La Asia Limited
- Wyndham Worldwide Corporation
- Jade Mountain
- Belmond Maroma Resort & Spa
- Laguna Beach House
Driving Factors of Standard Beach Hotels Market:
- Rapidly growing travel and tourism sector
- Rising disposable income
- Increasing number of global consumers going for trips and vacations
- Increasing preference for peaceful locations for vacations
- Growing popularity of hotels and resorts franchising across the globe
- Availability of amenities such as spacious rooms, spas, gyms, private pools, swimming pools, and rooftop bars
- Rising adoption of online reservations and discounts
- Increasing investment in expanding chains of Standard Beach Hotels with well-developed infrastructure, aesthetic appeal, and additional amenities
- Various outdoor activities such as cruise rides, scuba diving, surfing, and windsurfing offered by Standard Beach Hotels to cater to rising demand for family outings and trips
- Changing lifestyle preferences, easy accessibility to transport facilities, and rising purchasing power.
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