Floating Hotel Market Size Worth $ 7,913.60 Million By 2032 | CAGR: 6.5%

The global floating hotel market size is expected to reach USD 7,913.60 million by 2032, according to a new study by Polaris Market Research. The report “Floating Hotel Market Share, Size, Trends, Industry Analysis Report, By Room Type (Single Occupancy, Double Occupancy); By Price Range; By Booking Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing interest in experienced travel creates new growth potential for the floating hotel market. India has witnessed 400% growth in the experience of traveling over the past five years. Travel experiences are becoming crucial for tourists planning their visits. Thrillophilia booking trends show a rapid shift from traditional, fixed-itinerary travel to experienced and immersive travel post-pandemic. This drives the demand for floating hotels, as travelers are showing profound interest in experiencing travel to attain memorable stays aligned with breathtaking views.

Furthermore, social media creates FOMO (Feeling of Missing Out) among internet users by showcasing tour experiences through posts and stories. This benefits the floating hotel market as there will be a rise in the number of customers preferring offshore accommodation, increasing revenue generation capacity among floating hotel management in the coming years.

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The wide usage of floating hotels in international events like the FIFA World Cup Qatar 2022 creates awareness among the world's population about floating hotels. Fans of football use MSC World Europe for accommodation at the time of the World Cup. This has benefited floating hotels by increasing brand image through media coverage. There will be low accommodation possibilities at international events like the World Cup. This can be replaced with the floating hotel, as it efficiently accommodates a short time for special and international events.

Moreover, economies with floating hotels boost their country's revenue by providing domestic and foreign customers with accommodation and services. This also creates employment with different skills in the region. Floating hotels have become the foremost tourist destination on weekends for working professionals as they provide unique experiences in the water. This factor drives the growth and demand for accommodation in floating hotels during the study period.

Floating Hotel Market Report Highlights

• Double Occupancy segment will grow at rapid pace, due to its cost effectiveness.
• Premium segment held the largest share, owing to its unique dwelling atmosphere.
• Online segment is projected to experience a larger revenue share due to the ease of booking tickets for domestic and international tourists.
• Europe is projected will grow at rapid pace, owing to rising concern on the housing crisis.
• North America held the largest share, owing to the growing acquisitions and partnerships among international players.
• Key players include Floatel International, Offshore Floating Hotels, Finnish Archipelago Hotels, Water Discus Hotel & Conrad Maldives Rangali Island.

Polaris Market Research has segmented the floating hotel market report based on room type, price range, booking channel and region:

Floating Hotel, Room Type Outlook (Revenue - USD Million, 2019 - 2032)

• Single Occupancy
• Double Occupancy

Floating Hotel, Price Range Outlook (Revenue - USD Million, 2019 - 2032)

• Economical
• Mass
• Premium

Floating Hotel, Booking Channel Outlook (Revenue - USD Million, 2019 - 2032)

• Phone Booking
• Online Booking
• In-Person Booking

Floating Hotel, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia

Floating Hotel Market Report Scope