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The boutique hotel market has experienced strong growth, with its size increasing from $87.95 billion in 2023 to $93.79 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.6%. This growth can be attributed to the rising demand for unique and personalized travel experiences, a preference for authentic and locally-inspired accommodations, the growing popularity of boutique hotels among millennials and Gen Z travelers, the expansion of digital platforms enhancing booking convenience, and rising disposable incomes and spending on luxury travel experiences. The market is expected to continue growing, reaching $121.90 billion by 2028 at a CAGR of 6.8%. The growth in the forecast period is driven by factors such as the adoption of sustainable practices and eco-friendly initiatives, integration of advanced technology for personalized guest experiences, a shift towards experiential hospitality offerings over traditional amenities, increased investment in refurbishing and repositioning existing properties, and the expansion of boutique hotel chains into emerging markets. Major trends during this period include an emphasis on wellness and holistic guest experiences, integration of art and cultural elements into hotel design and services, growth in leisure travel, combining business and leisure stays, adoption of contactless technologies and AI-driven customer service, and the development of hybrid spaces that blend accommodation with co-working or social hubs.

The growing trend of experiential travel is expected to propel the growth of the boutique hotel market going forward. Experiential travel involves immersive and hands-on experiences that allow travelers to engage deeply with a destination’s culture, activities, and local life, often through unique and personalized activities. This trend stems from a desire for authentic, meaningful interactions and memorable experiences that surpass traditional sightseeing, offering deeper connections with destinations and cultures. Boutique hotels enhance this experience by providing unique, personalized accommodations that reflect local culture and character, giving travelers a more immersive and distinctive stay. For instance, in November 2023, according to the World Tourism Organization (UNWTO), a Spain-based intergovernmental organization, international tourist arrivals increased by 22% compared to the same period in 2022, and foreign tourist earnings might exceed $1.4 trillion by the end of 2023. Therefore, the growing trend of experiential travel is driving the growth of the boutique hotel market.

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What Are The Key Trends That Influence Boutique Hotel Market Share Analysis?

Major companies operating in the boutique hotel market are developing advanced technologies, such as app-enabled modern services, to gain a competitive advantage. App-enabled modern services refer to digital solutions that use mobile applications to streamline and enhance various services, providing users with convenient, efficient, and often personalized experiences. For instance, in July 2023, Sonder Holdings Inc., a US-based technology-driven hospitality company, introduced its first hotel collection, Powered by Sonder. This collection features a variety of uniquely designed boutique hotels that incorporate Sonder’s technology and operational expertise. The Powered by Sonder collection includes 23 hotels across 13 markets, such as Atala in Paris, Chambers in New York City, and Yelo Jean Médecin in Nice. Each hotel has its own distinctive style and local influences. These hotels are equipped with app-enabled services, allowing guests to manage their stay from booking to check-out using the Sonder app. This emphasizes self-service and modern convenience. Using the Sonder app provides a seamless guest experience, allowing for features such as mobile check-in, communication with guest services, and direct access to amenities from guests’ devices.

How Is The Global Boutique Hotel Market Segmented?

1) By Hotel Type: Business Hotels; Suite Hotels; Airport Hotels; Resorts Hotels; Other Hotel Types
2) By Style And Theme: Historic Boutique Hotels; Art-Themed Boutique Hotels; Eco-Friendly Or Green Boutique Hotels; Boutique Beach Resorts
3) By Target Audience: Luxury Boutique Hotels; Budget Boutique Hotels; Adults-Only Boutique Hotels; Family-Friendly Boutique Hotels
4) By Booking Channel: Phone Booking; Online Booking; In Person Booking
5) By Location: Urban Boutique Hotels; Rural Or Countryside Boutique Hotels

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The Boutique Hotel Global Market Report 2024 provides an overview of the boutique hotel market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The boutique hotel market forecast analyzes boutique hotel market size, boutique hotel market share, leading competitor and their market positions.

The Table Of Content For The Boutique Hotel Market Include:

1. Boutique Hotel Market Executive Summary
2. Boutique Hotel Market Segments
3. Boutique Hotel Market Size And Template Market Growth Rate
4.  Key Boutique Hotel Market Trends
5. Major Boutique Hotel Market Drivers
……
25. Key Mergers And Acquisitions In The Boutique Hotel Market
26. Top Boutique Hotel Companies
27. Boutique Hotel Market Opportunities And Strategies
28. Boutique Hotel Market, Conclusions And Recommendations
29. Appendix

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