The global tech savvy hotel chains market is estimated at ~USD 70,898.5 million in the year 2024 and is anticipated to reach an industry valuation of ~USD 294,394.8 million in the year 2034 with a market CAGR of 15.3% between the years 2024 and 2034. The tech savvy hotel chains industry revenue in 2023 is USD 61,597.3 million.
The industry is expected to record an annual growth of (Y-o-Y) of 13.1% in 2024. The market value share of the tech savvy hotel chains industry in its parent market (hotel market) is approximately ~12%-15%.
| Attribute | Details |
|---|---|
| Actual Size, 2023 | USD 61,597.3 million |
| Estimated Size, 2024 | ~USD 70,898.5 million |
| Projected Size, 2034 | ~USD 294,394.8 million |
| Value-based CAGR (2024 to 2034) | ~15.3% |
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Over the period, several renowned brands of the hotel industry have successfully inducted technology into their daily operational flowchart, catering to the rising demand for tech savvy hotel chains.
The new breed of smart hoteliers is promoting digitization to slash recurring costs and also to incorporate some of the state-of-the-art services to their elite customers through the best possible use of technology, positively influencing the tech savvy hotel chains market outlook.The tech-savvy hotel chains market size is expanding slowly but steadily growing around the world and is also getting benefitted by the use of technology and digital boom.
The Proper Incorporation of Technology Most Likely Has Multiple Effects On the Demography of the Fast- Changing Hospitality Industry
In the last few years, the entire scenario of the hotel industry has changed and the technological revolution has impacted the revenue outcome, successfully pulling up the service levels, and surging the adoption of tech savvy hotel chains. After a long haul, the hotel and hospitality industry has limped back to normalcy with the help of advanced technology, and the demand for tech savvy hotel chains is soared by the massive IT boom around the world.
Tech savvy hotel chains are earning an edge over their competitors as they are collecting more accolades from their customers and expanding the tech savvy hotel chains market share by building a robust list of loyal customers for them.
The Emergence of a Huge Pool of Tech-Savvy Customers Is Also Positively Impacting the Tech Savvy Hotel Chains Market
The customers of the modern world look for quick and easy solutions and to tap this huge market, hotel chains are quickly adapting from their conventional strategies and coming up with technology advanced strategies to capture a huge share of the technology advanced hotel chains market. Over the recent past, several hotels around the world have been victims of some of the worst terror attacks.
Therefore, to give an adequate protection, hotels all over the world have turned them into fortresses using some of the advanced technological ways and gadgets. This overwhelming rise of safety and security is also spearheading the tech savvy hotel chains market future trends.
The Growth of the Ancillary Industry Which Is Directly Linked to The Hotel Industry in Tandem with These Essential Ancillary Services Also Spikes the Revenue of the Hospitality Industry
Services are a key benefiting roles of luxury properties and these extra services not only enhance their tech savvy hotel chains market proportion but also enhance their offerings. On the other hand, the organic tech savvy hotel chains marketing growth is hampered by the rising cost of hotel-friendly technologies.
Since most of the medium level hotel chains cannot afford expensive technological refurbishments, the market size of the tech savvy hotel chains is expected to shrink in the coming years. However, the lack of manpower that is skilled enough to handle the technology also is coming down, and the growth of the tech savvy hotel chains market to an extent.
Principal Consultant
The Increasing Demand for Digitalization in The Hospitality Sector Has Led to A Significant Adoption of Contactless Solutions
Facilities like automated check-in and checkout, digital room service and bookings have become the norm in the hospitality industry. These technologies not only help in reducing contact between guests but also help in reducing costs and increasing efficiency in operations. In addition, the executives in the hospitality industry are confident that a completely touch-free environment will be the new normal in the near future due to the increasing adoption of such technologies.
Voice Technology Is Quickly Changing the Nature of Guest Engagement In Hotels
Connection with smart personal assistants such as Amazon Alexa and Google Assistant, hotels provide guests with a touchless and convenient experience, which enables them to manage devices, services, and information within a room. It helps in overcoming the problem of staff deficit and also improves the guest experience, making it one of the major forces behind the adoption of technology in hotel chains. The use of voice assistant technology in hospitality is expected to increase in the future, which shows that there is a positive trend in embracing this technology.
Sustainability Is Gradually Growing To Be An Important Factor In Travel, With Many People Being Concerned With Sustainable Lodging
The hotel industry is shifting to the use of renewable energy and other environmentally friendly practices in their operations. Smart room systems and other forms of energy efficient technologies also benefit the guests who are more conscious of the environment as well as the company since it is affordable in the long run. The focus on sustainability is changing the nature of the hospitality industry and therefore hotels must implement new technologies that reflect these principles.
United Kingdom is anticipated to have a CAGR of 8.9% by the end of 2034 for the tech savvy hotel chains market. Due to a consistent influx of domestic and international travellers, particularly in major cities like London, a surge in teach savvy hotel demand.
The competition in the hospitality sector in the United Kingdom is stiff with market players such as Whitbread Group and InterContinental Hotels Group who are already adopting technology to gain competitive advantage. The projected expansion of the luxury and economy hotel categories combined with the rising trend of serviced apartments also points to the prospects of technology-based advancements in this dynamic sector.
Thus, as the United Kingdom remains a popular tourist and business destination, the growth of the market, the development of technologies, and the change in consumer preferences make it an ideal location for tech-savvy hotel chains.
Japan has been the leading tech savvy hotel chains market in the Asia Pacific region, with an estimated CAGR of 17.3% for the Japan market by 2034. The improve guest experience through the use of technology is one of the main drivers of the market for tech-savvy hotel chains in Japan.
The Japanese consumers and foreign visitors demand convenient, effective, and customized services. For instance, most hotels in Japan have embraced the use of technology in that guests are able to check-in and check-out of their rooms through the use of an app.
Further, the use of smart room technologies enables guests to manage the lighting, temperature, and entertainment systems through mobile devices or voice, making the stay very unique. Technological advancement benefits both the guests and the hotel, thus placing tech-savvy hotels in a better position to compete in the market.
In North America, the United States is expected to have the maximum market share by the end of 2023 and grow with a CAGR value of 7.8% from 2024 to 2034. The market in the United States is driven by a strong tourism sector, high customer expectations of technology, and many well-known international brands. For instance, Marriott and Hilton have incorporated mobile check-ins, concierge services, and in-room automation to meet the needs of the growing technological society.
The competition in the USA market makes hotels to work hard to ensure that they capture the market and this makes technology integration a key factor. The environment supports fast technology diffusion, making the United States a key player in the smart hotel market.
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The preference for tech-savvy hotel chains varies significantly between domestic and international markets, with international chains often leading in popularity. Leading international hotel chains, including Marriott, Hilton, and AccorHotels, leverage sophisticated technology to enhance guest experiences and drive operational efficiencies that, in turn, standardize the brand experience across the host destinations.
Hotels within a chain often attract business travelers and tourists who expect modern facilities and prompt service. For instance, the implementation of mobile check-ins, smart room controls, and personalized guest services has emerged as a defining characteristic of these international brands, thereby enhancing their attractiveness to technology-oriented customers who prioritize convenience and innovation.
In terms of age group, the 36-45 years age segment will show high demand in the market for a tech-savvy hotel chain. The age group is significant among the respondents in the different surveys with a population share of about 39%. On the other hand, the 26-35 years group, seconded by the 46-55 years group is comparatively less engaged.
For example, a survey conducted by HospitalityTech revealed that virtual reality in destination marketing, the most popular age range was 36-45, which shows that people of this age are more likely to use innovative technology in hospitality. The trend indicates that people within this age bracket are likely to use technology-based services and at the same time are likely to look for hotels that can offer such experiences hence creating demand in the market.
In terms of consumer orientation, female customers are expected to contribute the largest market share due to women’s growing role in decision-making on travel and their desire for customized and easily accessible services. Safety, comfort, and easy solutions are valued by women and tech-savvy hotels provide mobile check-ins, smart controls of rooms, and AI-based concierge services.
For instance, hotels that incorporate additional security measures and customized services via technology appeal to female travellers. Due to the emphasis on customization, women are considered to be one of the most important consumer groups in this market.
The intense competition in the hotel chains market is the result of the fast-growing use of technologies like artificial intelligence, the internet of things, and mobile applications. Conventional hotel brands and tech-savvy firms are now competing for market control as they seek to incorporate solutions to improve guest satisfaction and organizational effectiveness. Traditional players are also putting significant efforts into technology enhancement and collaborations with technology providers.
For Instance
| Attribute | Details |
|---|---|
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific and MEA |
| Key Segments Covered | Tour Type, Consumer Orientation, Tourist Type, Age Group and Region. |
| Key Companies Profiled | W Singapore; The Hotel Silken Puerta América; The Yotel New York City; Eccleston Square Pimlico; Pengheng Space Capsules Hotel; Blow Up Hall 5050; City Hub,Kameha Grand; Hotel Zetta; Henn Na Hotel; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The present valuation of the tech savvy hotel chains sector is at USD 70,898.5 million in 2023.
The tech savvy hotel chains market has had a compound annual growth rate of 12.3% in the 2019 to 2023 period.
Leading players operating in the global tech savvy hotel chains market are W Singapore, The Hotel, Silken Puerta América, The Yotel New York City, Eccleston Square Pimlico, Pengheng Space Capsules Hotel, Blow Up Hall 5050, City Hub, Kameha Grand, Hotel Zetta, and Henn Na Hotel
The tech savvy hotel chains market is anticipated to grow at a CAGR of 13.3% over the forecast period.
The global tech savvy hotel chain industry is anticipated to reach USD 2,082.4 million by 2034 end.
1. Executive Summary
2. Growth Parameters
3. Supply to Demand: Today’s Travel Distribution Network
3.1. Direct v/s Indirect Distribution
3.2. Travel Gross Revenues, by Channel, 2023
3.2.1. Supplier Direct
3.2.2. TMC
3.2.3. Tour Operator
3.2.4. OTA
4. Direct Suppliers
4.1. Total Supplier Market, Share by Segment (%), 2023
5. Indirect Suppliers
5.1. OTA (Online Travel Agency)
5.2. Traditional Travel Agencies
5.3. TMC's (Travel Management Companies)
5.4. Corporate Buyers
5.5. Aggregators
6. Number of Bookings, 2023
6.1. By Tour Type
6.1.1. Domestic
6.1.2. International
6.2. By Consumer Orientation
6.2.1. Male
6.2.2. Female
6.3. By Tourist Type
6.3.1. Independent Traveler
6.3.2. Tour Group
6.3.3. Package Traveler
6.4. By Age Group
6.4.1. 26-35 Years
6.4.2. 36-45 Years
6.4.3. 46-55 Years
7. Country Shift, Key Countries in Focus, 2023
7.1. USA
7.2. France
7.3. Spain
7.4. UK
7.5. Germany
7.6. Japan
7.7. Singapore
7.8. India
7.9. China
7.10. Rest of the World
8. Gross Revenue
8.1. Gross Revenue (USD Million) and Forecast (2024 to 2034)
8.2. Number of Bookings and Forecast (2024 to 2034)
8.3. Total Spending Y-o-Y Growth Projections (2024 to 2034)
8.4. Number of Tourists Y-o-Y Growth Projections
9. Challenges & Looking Forward
9.1. Success Stories: Case Studies
9.2. FMI Recommendations
10. Market Stakeholders Landscape - Key Direct Suppliers
10.1. Tour Operators
10.2. Government Bodies
11. Social Media Sentimental Analysis
11.1. Travel Influencers: A New Phenomenon in the world of Tourism
11.2. Social Media Platforms Preferred
11.3. Trending #Hashtags
11.4. Social Media Platform Mentions (% of Total Mentions)
11.5. Trending Subject Titles
12. Assumptions and Acronyms Used
13. Research Methodology
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Tech Savvy Hotel Chains Market
