The U.S.
hotels, resorts & cruise lines market is expected to reach USD
299.3 billion by 2025, according to a new report by Grand View Research, Inc.
As travel and tourism keep on growing every year, hotel and cruise line
industry are recognized as an ever-blooming business. High competition is observed
amongst the companies due to soaring demand for accommodation. This, in turn,
is anticipated to boost the revenue inflow in this market.
Currently, majority of the population are tech-savvy
and are comfortable using mobile apps and websites. Customers prefer to plan
their trips and search for hotel options all via a digital interface. As a
result, hotels are engaged in offerings up-to-date and user-friendly services
such as online bookings, cancellation, and payment mode. This, in turn, is
expected to enable company in reinforcing their presence in the space.
Effective usage of digital marketing & social
media promotions is recognized as the high driving force for the market. This
is mainly because it allows maintaining harmony and synergy between companies
and customers, thereby driving booking rates. Moreover, usage of public forum
like Yelp helps in understanding the customer’s’ expectation which further
helps in devising the investment plans as per the customer’s need.
However, alternate accommodation such as Airbnb and
security challenges associated with this industry is expected to slow down the
market throughout the forecast period.
Browse full research report on U.S. Hotels, Resorts & Cruise Lines Market: https://www.grandviewresearch.com/industry-analysis/us-hotels-resorts-cruise-lines-market
Further
Key Findings From the Report Suggest:
- Hotel &
motel dominated the market in 2016 with respect to revenue generation
- Presence of a
substantial number of international hotels in the U.S. has contributed to
the largest share of this segment
- In the crowded
tourist or travel spots, it is easy to spot hotels in every locality
- Cruise lines
is the fastest growing segment
- Understanding
the growth potential of cruising travel, the cruise line industry is
committed to add new capacity in its lines
- The cruise lines
are continuously putting efforts for improving its “cheap and fun vacation
deals”
- These factors
are expected to lucratively enhance the segment growth throughout the
forecast period
- Some major
hotel companies that are operating in the space are Hyatt Corporation,
MARRIOTT INTERNATIONAL, INC.; and Hilton
- Royal
Caribbean International and Carnival Corporation & plc are some
prominent cruise line in the market
- These
companies are observed to make significant investment to boost their
service portfolio and meet the customers’ expectations
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/consumer-goods
Grand
View Research has segmented the U.S. hotels, resorts & cruise lines market
on the basis of facility type:
U.S.
Hotels, Resorts & Cruise Lines Facility Type Outlook (Revenue, USD Billion,
2014 - 2025)
- Hotels and
Motels
- Cruise Lines
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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