Raking in profits: Global beach hotels markets to hit $217 million by 2025
A new study from Supply Demand Market Research has found the value of beach hotels.
A new study from Supply Demand Market Research has found that beach hotels — a designation that includes seashore and sea-facing hospitality properties — have an increasingly sunny future.
Currently, the market for such properties is valued by experts at approximately $168 million. The new study shows that by the end of the year 2025, that number will have risen to roughly $217 million, powered by a compound annual growth rate (CAGR) of 3.2 percent during 2018 to 2025.
The study also notes some less tangible reasons for this increase. These include suggestions that travelers are more strongly inclined to visit peaceful areas versus urban centers and others wherein they might come into contact with larger crowds.
Other factors driving growth for the period that the study looks at include an increase in per capita income for developing countries worldwide, a rise in the purchasing power of people, a surge in a trend toward more vacation travelling, and various discounts that are offered in the hospitality space due to new technologies such as online booking engines.
The study also uncovers some less surprising tidbits, such as that beach stays being favored by demographics that include couples on honeymoon, and that popular activities during beach stays include hiking, surfing, water sports, biking, and stops at spas.
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