The global micro hotel market is poised to reach a valuation of US$ 84 Billion in 2022. Sales are projected to increase at a 6.0% CAGR, with the market size reaching US$ 150.43 Billion by 2032.
Multinational groups and large-scale businesses are believed to participate closely in the tourism market. Small businesses may endure because, according to research, there are around 300 of them, and the number of these businesses is large. The purpose of this article is to shed light on the importance of these factors for early business establishment procedures, starting with an understanding of the influence of these processes on the state. The arguments mainly originate via primary source data, with additional insight collected from in-depth interviews with professionals and policymakers.
The federal government and local government consider the tourism sector to be forward-thinking and significant, and micro, small, and medium-sized hotels can profit from this program by undertaking financing initiatives, promotional campaigns, and training programs.
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The tourism and leisure industry reinforces hotel development. It generates jobs and encourages regional improvement through social development. It sustains millions of jobs in the hotel sector.
The hotel business is utilizing cutting-edge social media marketing strategies, including Facebook, to help increase awareness and ticket sales. Clients are turning to booking apps more for convenience and ease of use.
Influencer marketing is the most popular tool for the hospitality industry in building guest loyalty and brand image, which is why so many hotels today use influencer marketing. A good example is Lisa Linh who has a following of 93.5k on Instagram. On her website, she has a section about hotel reviews.
Key Takeaways:
- The North America and Asia Pacific regions hold a market share of ~24% and ~24% respectively.
- The Covid-19 pandemic had a 30% impact on the value of the Micro Hotel tourism.
- Online booking channels lead the charts in Micro Hotels tourism market booking channel segmentation.
- New Zealand, the USA, France, Japan, UK, Italy are some of the most popular destinations for Micro Hotel tourism
- Promoting domestic tourism and supporting safe returns of international tourism.
Who is winning?
By providing all-inclusive packages and sparing travellers from the trouble of navigating several channels for their excursions, the major players are able to keep their competitive advantage in the market. Government investments and initiatives are stimulating the market, and they have also assisted the businesses in enhancing their service offerings.
Leading players operating in the Micro Hotel industry
- Nine Hours,
- Container Hotels,
- Tubohotel
- The Pod Hotel,
- Rolling Huts Micro Hotels,
- Koyasan Guest House,
- Yotel Hotels
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Future Market Insights, in its new offering, provides an unbiased analysis of the global Micro hotel tourism market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the micro hotel market based on hotel type (capsule hotel, rolling hotel, snooze box and others), booking channel (phone booking, online booking & in person booking), tourist type (domestic & international), tour type (independent traveller, tour group & package traveller), consumer orientation (men & women), age group (15-25 years, 26-35 years, 36-45 years, 46-55 years, 66-75 years), across seven major regions.
The Micro Hotel Market by Category
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Tour Type:
- Independent Traveller
- Package Traveller
- Tour Group
By Consumer Orientation:
- Men
- Women
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
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