U.S. Hotels, Resorts, And Cruise Lines Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

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Report Overview

The U.S. hotels, resorts, and cruise lines products market was valued at USD 456.4 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The market is driven by the increasing demand for travel and tourism, the growing number of millennials, and the emergence of digital platforms, enabling convenient and easy access for booking hotels, resorts, and cruise lines. Moreover, the increasing trend of vacationing and the rising disposable income of consumers are further propelling the market growth.

Furthermore, the rising preference for luxury and comfort among travelers is also bolstering the demand for hotels, resorts, and cruise lines. As a result, market players are launching products to meet the expectations of their customers. For instance, in May 2021, Carnival Cruise Line announced the launch of its new cruise brand, Carnival Radiance, a transformation of the former Carnival Victory. The new ship offers a wide range of activities and amenities, including a pool deck with a water park featuring the longest slide at sea, a state-of-the-art fitness center, a spa, and a variety of dining options.

Moreover, the increasing popularity of eco-tourism is driving the demand for green hotels, resorts, and cruise lines. Market players are introducing eco-friendly travel options that minimize environmental damage and conserve natural resources. For instance, in June 2021, Royal Caribbean announced the launch of the world’s first fully sustainable cruise ship, Odyssey of the Seas. The ship will feature a number of green initiatives such as energy-efficient navigation systems, waste-to-energy solutions, and wastewater treatment systems, to reduce its carbon footprint.

The increasing trend of online booking is also propelling the market growth. To capitalize on the online booking trend, market players are offering various discounts and additional amenities to customers booking through their respective websites. Furthermore, the launch of new and innovative products and services by market players is further boosting the market growth. For instance, in July 2021, Marriott International announced the launch of its new loyalty program, Bonvoy Bold, which provides customers with exclusive discounts and experiences.

The growing popularity of workcations and staycations is expected to drive the demand for hotels, resorts, and cruises in the coming years. The COVID-19 pandemic has resulted in an increased acceptance of workcations and staycations, as people are looking for flexible and safe travel options. The trend is expected to continue in the post-pandemic era. As a result, market participants are introducing new packages and services to cater to the increasing demand.

Product Insights

The U.S. hotels, resorts, and cruise lines market is anticipated to register a CAGR of 6.5% over the forecast period. Growing demand for leisure trips and the increasing trend of digital transformation of the hospitality industry are major factors driving the growth of the market. The rising trend of online booking platforms, such as Expedia, Booking.com, and Airbnb, are among the significant factors that have amplified the travel and hospitality market across the U.S. According to a report by the American Hotel & Lodging Association, in 2020, the U.S. hotel industry had a total gross operating profit of $28.6 billion.

The cruise lines segment is expected to witness the fastest growth rate over the forecast period. The increasing demand for cruises from U.S. customers, due to the availability of high-end services, such as entertainment and sightseeing, is driving the growth of the cruise lines segment. In addition, growing demand for luxury cruises and increasing preference for cruises among customers of all ages are some of the factors driving the growth of the segment. Furthermore, increasing investments in the development of new cruise ships and the introduction of modern cruise ships with advanced technologies are some of the other factors driving the growth of the cruise lines market.

Distribution Channel Insights

The hotels & resorts segment dominated the U.S. hotels, resorts, and cruise lines products market, with a share of over 46.3% in 2022. The segment is expected to be the largest revenue generator in the market during the forecast period. The growing demand for leisure and business travel, as well as the increasing number of tourists visiting the country, are expected to propel the growth of the segment. In addition, the increasing number of hotel openings and the growing demand for luxurious services are expected to further drive the growth of the segment.

The cruise lines segment is anticipated to expand at the highest CAGR of 8.7% over the forecast period. The growing popularity of cruise lines among U.S. tourists, especially those belonging to the younger demographic, and the increasing number of cruise line services offered by companies are driving the growth of the segment. In addition, the availability of various packages and discounts offered by cruise lines are further boosting the segment’s growth.

Type Insights

The U.S. hotels, resorts, and cruise lines market is expected to be dominated by the hotels segment, which is projected to account for a share of 57.4% in the year 2022. The growing demand for business and leisure travel, coupled with the growing trend of family vacations, is driving the growth of the hotels segment. Moreover, the rising disposable income of Americans, the availability of discounts on hotel bookings, and the increasing number of hotel rooms are some of the factors driving the growth of the segment.

The resorts segment is expected to expand at the highest CAGR of 8.3% during the forecast period. The growth of the resorts segment can be attributed to the growing number of resorts across the United States, offering attractive packages and amenities such as beach resorts, ski resorts, golf resorts, and spa resorts. Moreover, the rising trend of wellness tourism and the increasing number of resorts in remote locations are expected to boost the growth of the segment.

Regional Insights

The U.S. hotels, resorts, and cruise lines products market is expected to witness substantial growth over the forecast period. This growth can be attributed to the increasing number of travelers from different countries around the world and the rising popularity of luxury and budget hotels. In addition, the growing demand for cruise lines and increased disposable income among consumers are also expected to fuel the growth of the market.

North America is expected to remain the dominant region in the near future due to the presence of a large number of luxury and budget hotels, and the presence of a large number of cruise lines. In addition, the increasing number of travelers from different countries around the world is also expected to drive the growth of the market.

Europe is expected to witness significant growth over the forecast period due to the rising demand for luxury and budget hotels. Moreover, the presence of a large number of cruise lines and the increasing number of travelers from different countries around the world is also expected to contribute to the growth of the market.

Asia Pacific is expected to witness rapid growth over the forecast period due to the increasing number of travelers from countries such as China, India, and Japan. In addition, the presence of a large number of luxury and budget hotels is expected to fuel the growth of the market.

Financial Projections

The U.S. hotels, resorts, and cruise lines market is expected to be dominated by the hotels segment, which is projected to account for a share of 57.4% in the year 2022. The growing demand for business and leisure travel, coupled with the growing trend of family vacations, is driving the growth of the hotels segment. Moreover, the rising disposable income of Americans, the availability of discounts on hotel bookings, and the increasing number of hotel rooms are some of the factors driving the growth of the segment.

The resorts segment is expected to expand at the highest CAGR of 8.3% during the forecast period. The growth of the resorts segment can be attributed to the growing number of resorts across the United States, offering attractive packages and amenities such as beach resorts, ski resorts, golf resorts, and spa resorts. Moreover, the rising trend of wellness tourism and the increasing number of resorts in remote locations are expected to boost the growth of the segment.

Regional Insights

The U.S. hotels, resorts, and cruise lines products market is expected to witness substantial growth over the forecast period. This growth can be attributed to the increasing number of travelers from different countries around the world and the rising popularity of luxury and budget hotels. In addition, the growing demand for cruise lines and increased disposable income among consumers are also expected to fuel the growth of the market.

North America is expected to remain the dominant region in the near future due to the presence of a large number of luxury and budget hotels, and the presence of a large number of cruise lines. In addition, the increasing number of travelers from different countries around the world is also expected to drive the growth of the market.

Europe is expected to witness significant growth over the forecast period due to the rising demand for luxury and budget hotels. Moreover, the presence of a large number of cruise lines and the increasing number of travelers from different countries around the world is also expected to contribute to the growth of the market.

Asia Pacific is expected to witness rapid growth over the forecast period due to the increasing number of travelers from countries such as China, India, and Japan. In addition, the presence of a large number of luxury and budget hotels is expected to fuel the growth of the market.

Financial Projections

In this part of the U.S. Hotels, Resorts, And Cruise Lines business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a U.S. Hotels, Resorts, And Cruise Lines business comes from room and board, food and beverage, recreation, entertainment, and other services and amenities. Here you will find a list with a description of each of them and other possible sources of profit such as special events and group sales.

Projecting Expenses

In this section, all the regular expenses related to keeping the U.S. Hotels, Resorts, And Cruise Lines business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, there are other expenses associated with the business such as taxes and fees, travel costs, and the cost of goods sold.

Key companies & market share insights

Some of the key companies operating in the U.S. hotels, resorts, and cruise lines market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Marriott International launched its new loyalty program, Marriott Bonvoy, offering exclusive benefits and rewards to members.

– In August 2022, Hilton launched a new line of luxury urban resorts, offering guests a unique and tailored experience.

– In October 2022, Carnival Cruise Line launched a new series of cruises to the Caribbean, offering a unique experience to cruise-goers.

Some of the prominent players in the U.S. hotels, resorts, and cruise lines market include:

– Marriott International, Inc.
– Hilton Worldwide Holdings Inc.
– Hyatt Hotels Corporation
– InterContinental Hotels Group
– Wyndham Hotels & Resorts
– Choice Hotels International, Inc.
– Best Western Hotels & Resorts
– Accor S.A.
– Carnival Corporation & plc
– Norwegian Cruise Line Holdings Ltd.

Global U.S. Hotels, Resorts, And Cruise Lines Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. Hotels, Resorts, and Cruise Lines products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Hotels
– Resorts
– Cruise Lines
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Offline
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Luxury
– Economy
– Mid-Range

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– U.S.
– Canada
– Mexico
– Rest of North America

Frequently Asked Questions

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. Hotels, Resorts, and Cruise Lines products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Hotels
– Resorts
– Cruise Lines
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Offline
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Luxury
– Economy
– Mid-Range

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– U.S.
– Canada
– Mexico
– Rest of North America

Frequently Asked Questions

[Q]: What are the key driving factors of the U.S. hotels, resorts, and cruise lines market?
[A]: Key driving factors of the U.S. hotels, resorts, and cruise lines market include the growing demand for leisure and business travelers, the increasing disposable income of travelers, and the development of new tourist destinations.

[Q]: What are the key trends impacting the market?
[A]: Key trends impacting the market include the increasing use of online and digital platforms for booking travel services, the shift from traditional to online bookings, and the increasing use of technology for providing new services.

[Q]: What are the key challenges faced by the U.S. hotels, resorts, and cruise lines market?
[A]: Key challenges faced by the U.S. hotels, resorts, and cruise lines market include the increasing competition from low-cost airlines, the increasing cost of travel, and the emergence of new vacation rental options.

[Q]: Who are the key players in the U.S. hotels, resorts, and cruise lines market?
[A]: Key players in the U.S. hotels, resorts, and cruise lines market include Marriott International, Inc., Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, Wyndham Hotels & Resorts, Inc., and Carnival Corporation & plc.

[Q]: What is the potential for growth in the U.S. hotels, resorts, and cruise lines market?
[A]: The U.S. hotels, resorts, and cruise lines market is expected to grow at a CAGR of 4.2% from 2020 to 2027, driven by the increasing demand for leisure and business travel.

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U.S. Hotels, Resorts, And Cruise Lines Products Market Size, Share, & Trends Analysis Report (2023 – 2030)

Report Overview

The U.S. hotels, resorts, and cruise lines products market was valued at USD 456.4 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The market is driven by the increasing demand for travel and tourism, the growing number of millennials, and the emergence of digital platforms, enabling convenient and easy access for booking hotels, resorts, and cruise lines. Moreover, the increasing trend of vacationing and the rising disposable income of consumers are further propelling the market growth.

Furthermore, the rising preference for luxury and comfort among travelers is also bolstering the demand for hotels, resorts, and cruise lines. As a result, market players are launching products to meet the expectations of their customers. For instance, in May 2021, Carnival Cruise Line announced the launch of its new cruise brand, Carnival Radiance, a transformation of the former Carnival Victory. The new ship offers a wide range of activities and amenities, including a pool deck with a water park featuring the longest slide at sea, a state-of-the-art fitness center, a spa, and a variety of dining options.

Moreover, the increasing popularity of eco-tourism is driving the demand for green hotels, resorts, and cruise lines. Market players are introducing eco-friendly travel options that minimize environmental damage and conserve natural resources. For instance, in June 2021, Royal Caribbean announced the launch of the world’s first fully sustainable cruise ship, Odyssey of the Seas. The ship will feature a number of green initiatives such as energy-efficient navigation systems, waste-to-energy solutions, and wastewater treatment systems, to reduce its carbon footprint.

The increasing trend of online booking is also propelling the market growth. To capitalize on the online booking trend, market players are offering various discounts and additional amenities to customers booking through their respective websites. Furthermore, the launch of new and innovative products and services by market players is further boosting the market growth. For instance, in July 2021, Marriott International announced the launch of its new loyalty program, Bonvoy Bold, which provides customers with exclusive discounts and experiences.

The growing popularity of workcations and staycations is expected to drive the demand for hotels, resorts, and cruises in the coming years. The COVID-19 pandemic has resulted in an increased acceptance of workcations and staycations, as people are looking for flexible and safe travel options. The trend is expected to continue in the post-pandemic era. As a result, market participants are introducing new packages and services to cater to the increasing demand.

Product Insights

The U.S. hotels, resorts, and cruise lines market is anticipated to register a CAGR of 6.5% over the forecast period. Growing demand for leisure trips and the increasing trend of digital transformation of the hospitality industry are major factors driving the growth of the market. The rising trend of online booking platforms, such as Expedia, Booking.com, and Airbnb, are among the significant factors that have amplified the travel and hospitality market across the U.S. According to a report by the American Hotel & Lodging Association, in 2020, the U.S. hotel industry had a total gross operating profit of $28.6 billion.

The cruise lines segment is expected to witness the fastest growth rate over the forecast period. The increasing demand for cruises from U.S. customers, due to the availability of high-end services, such as entertainment and sightseeing, is driving the growth of the cruise lines segment. In addition, growing demand for luxury cruises and increasing preference for cruises among customers of all ages are some of the factors driving the growth of the segment. Furthermore, increasing investments in the development of new cruise ships and the introduction of modern cruise ships with advanced technologies are some of the other factors driving the growth of the cruise lines market.

Distribution Channel Insights

The hotels & resorts segment dominated the U.S. hotels, resorts, and cruise lines products market, with a share of over 46.3% in 2022. The segment is expected to be the largest revenue generator in the market during the forecast period. The growing demand for leisure and business travel, as well as the increasing number of tourists visiting the country, are expected to propel the growth of the segment. In addition, the increasing number of hotel openings and the growing demand for luxurious services are expected to further drive the growth of the segment.

The cruise lines segment is anticipated to expand at the highest CAGR of 8.7% over the forecast period. The growing popularity of cruise lines among U.S. tourists, especially those belonging to the younger demographic, and the increasing number of cruise line services offered by companies are driving the growth of the segment. In addition, the availability of various packages and discounts offered by cruise lines are further boosting the segment’s growth.

Type Insights

The U.S. hotels, resorts, and cruise lines market is expected to be dominated by the hotels segment, which is projected to account for a share of 57.4% in the year 2022. The growing demand for business and leisure travel, coupled with the growing trend of family vacations, is driving the growth of the hotels segment. Moreover, the rising disposable income of Americans, the availability of discounts on hotel bookings, and the increasing number of hotel rooms are some of the factors driving the growth of the segment.

The resorts segment is expected to expand at the highest CAGR of 8.3% during the forecast period. The growth of the resorts segment can be attributed to the growing number of resorts across the United States, offering attractive packages and amenities such as beach resorts, ski resorts, golf resorts, and spa resorts. Moreover, the rising trend of wellness tourism and the increasing number of resorts in remote locations are expected to boost the growth of the segment.

Regional Insights

The U.S. hotels, resorts, and cruise lines products market is expected to witness substantial growth over the forecast period. This growth can be attributed to the increasing number of travelers from different countries around the world and the rising popularity of luxury and budget hotels. In addition, the growing demand for cruise lines and increased disposable income among consumers are also expected to fuel the growth of the market.

North America is expected to remain the dominant region in the near future due to the presence of a large number of luxury and budget hotels, and the presence of a large number of cruise lines. In addition, the increasing number of travelers from different countries around the world is also expected to drive the growth of the market.

Europe is expected to witness significant growth over the forecast period due to the rising demand for luxury and budget hotels. Moreover, the presence of a large number of cruise lines and the increasing number of travelers from different countries around the world is also expected to contribute to the growth of the market.

Asia Pacific is expected to witness rapid growth over the forecast period due to the increasing number of travelers from countries such as China, India, and Japan. In addition, the presence of a large number of luxury and budget hotels is expected to fuel the growth of the market.

Financial Projections

The U.S. hotels, resorts, and cruise lines market is expected to be dominated by the hotels segment, which is projected to account for a share of 57.4% in the year 2022. The growing demand for business and leisure travel, coupled with the growing trend of family vacations, is driving the growth of the hotels segment. Moreover, the rising disposable income of Americans, the availability of discounts on hotel bookings, and the increasing number of hotel rooms are some of the factors driving the growth of the segment.

The resorts segment is expected to expand at the highest CAGR of 8.3% during the forecast period. The growth of the resorts segment can be attributed to the growing number of resorts across the United States, offering attractive packages and amenities such as beach resorts, ski resorts, golf resorts, and spa resorts. Moreover, the rising trend of wellness tourism and the increasing number of resorts in remote locations are expected to boost the growth of the segment.

Regional Insights

The U.S. hotels, resorts, and cruise lines products market is expected to witness substantial growth over the forecast period. This growth can be attributed to the increasing number of travelers from different countries around the world and the rising popularity of luxury and budget hotels. In addition, the growing demand for cruise lines and increased disposable income among consumers are also expected to fuel the growth of the market.

North America is expected to remain the dominant region in the near future due to the presence of a large number of luxury and budget hotels, and the presence of a large number of cruise lines. In addition, the increasing number of travelers from different countries around the world is also expected to drive the growth of the market.

Europe is expected to witness significant growth over the forecast period due to the rising demand for luxury and budget hotels. Moreover, the presence of a large number of cruise lines and the increasing number of travelers from different countries around the world is also expected to contribute to the growth of the market.

Asia Pacific is expected to witness rapid growth over the forecast period due to the increasing number of travelers from countries such as China, India, and Japan. In addition, the presence of a large number of luxury and budget hotels is expected to fuel the growth of the market.

Financial Projections

In this part of the U.S. Hotels, Resorts, And Cruise Lines business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a U.S. Hotels, Resorts, And Cruise Lines business comes from room and board, food and beverage, recreation, entertainment, and other services and amenities. Here you will find a list with a description of each of them and other possible sources of profit such as special events and group sales.

Projecting Expenses

In this section, all the regular expenses related to keeping the U.S. Hotels, Resorts, And Cruise Lines business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, there are other expenses associated with the business such as taxes and fees, travel costs, and the cost of goods sold.

Key companies & market share insights

Some of the key companies operating in the U.S. hotels, resorts, and cruise lines market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Marriott International launched its new loyalty program, Marriott Bonvoy, offering exclusive benefits and rewards to members.

– In August 2022, Hilton launched a new line of luxury urban resorts, offering guests a unique and tailored experience.

– In October 2022, Carnival Cruise Line launched a new series of cruises to the Caribbean, offering a unique experience to cruise-goers.

Some of the prominent players in the U.S. hotels, resorts, and cruise lines market include:

– Marriott International, Inc.
– Hilton Worldwide Holdings Inc.
– Hyatt Hotels Corporation
– InterContinental Hotels Group
– Wyndham Hotels & Resorts
– Choice Hotels International, Inc.
– Best Western Hotels & Resorts
– Accor S.A.
– Carnival Corporation & plc
– Norwegian Cruise Line Holdings Ltd.

Global U.S. Hotels, Resorts, And Cruise Lines Market Segmentation

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. Hotels, Resorts, and Cruise Lines products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Hotels
– Resorts
– Cruise Lines
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Offline
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Luxury
– Economy
– Mid-Range

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– U.S.
– Canada
– Mexico
– Rest of North America

Frequently Asked Questions

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