Boutique Hotels in the US - Industry Market Research Report

Fully booked: Recovering domestic and international travel will support revenue growth

The Boutique Hotels industry focuses on providing luxury accommodations with an emphasis on design, individualization and quality of service. As revenue dropped in 2020, industry revenue decreased at an annualized rate of 0.1% over the past five years. A dramatic surge in travel following easing lockdown mandates in 2021 and 2022 has driven the industry's gradual recovery. Rising 14.7% in 2023, industry revenue will reach $22.1 billion, ultimately approaching pre-pandemic levels. This industry includes intimate, luxurious and upscale hotel environments that feature unique architecture and design. Industry establishments are also known as lifestyle hotels, villas and wellness hotels. They may offer food and beverage services and have restaurants, spas and salons on their premises. This industry does not include chain hotels, though it does include soft brands affiliated with larger hotel groups. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.