ITC Limited, Four Seasons Holdings Inc., Hyatt Hotels Corporation together accounted for 39% of the global beach hotels market share in 2018. Most of this revenue is attributed to their strategy of acquiring or buying out of small inns, B&Bs. The global beach hotels market was 143.26 billion in 2018 and is estimated to reach USD 185.37 billion by 2025 at a CAGR of 3.75% during the forecast period
Growth by Region
Asia pacific region is forecasted to grow at the fastest rate in the forecasted period. North America is showing an impressive growth and will continue to show similar kind of growth in the future.
Drivers vs. Constraints
The increase in the crowd in the beaches makes it difficult to people to enjoy the sea view. Therefore, many started opting for the beach hotels to enjoy the sea view leisurely. The increase growth in the tourist sector acts as a driving force for this market. The increasing income of the consumer and increase in the different varieties of beach hotels increase the market growth. However, the fear of the destruction that can be cause by the sea and increasing water level hinder the market growth.
Industry Structure and Updates
• July 2018 - The Caribbean Hotel and Tourist Association have announced the opening of beach hotels which were damaged by the hurricane last year. These hotels are reconstructed and are guarded with more safety measures.
• July 2018 - The Melta Hotels International has opened a new beach hotel in the spain.it is named as Calvia Beach, The Plaza Hotel.
• July 2018 - Cyprus is declared to have the third maximum hotels among the Mediterranean islands