Turismo
Global Capsule Hotel Market Expected to Generate a Revenue of $211.7 million by 2028, Growing at a CAGR of 6.0% from 2021-2028 - Informative Report [250 Pages] by Research Dive
According to the report, the is expected to generate a revenue of , exponentially growing at a during the forecast period 2021-2028.
Increase in the number of solo travels by people and availability of affordable hotels are expected to drive the growth of the market. In addition, rising number of middleclass people and their expenditure on numerous leisure activities including travel and tourism is further expected to bolster the growth of the capsule hotel market during the forecast period. Moreover, increase in adventure and travel expeditions among millennials across the globe is expected to create immense opportunities for the growth of the market during the forecast period. However, growing presence of budget-friendly hotels across the globe is expected to hinder the growth of the capsule hotel market during the forecast period.
The report has divided the market into various segments based on traveler type, booking mode, age group and region.
The outbreak of COVID-19 has an adverse impact in the growth of the global capsule hotel market, owing to the prevalence of lockdowns in various countries across the globe. Stringent travel restrictions were imposed by the government of numerous countries in order to curb the spread of the virus. Lockdowns resulted in the shutdown of hotels and restaurants across the globe, which resulted in their decreased demand. Thus, the pandemic has had a negative impact on the global capsule hotel market.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in June 2021 , Suba Group, a Mumbai -based hospitality firm operating in the mid-tier segment, acquired 1589 Hotels, a leisure budget hospitality chain, in order to maximize Suba's presence in the global capsule hotel market by opening new avenues for the growth of the company.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Research Dive is a market research firm based in Pune, India . Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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