PUBLISHER: The Business Research Company | PRODUCT CODE: 1582564
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582564
A pet-friendly hotel is an accommodation that welcomes guests traveling with pets, including dogs, cats, and occasionally other animals. These hotels are designed to accommodate pets and offer amenities or services tailored to the needs of both pets and their owners.
The main types of pet-friendly hotels include luxury hotels and standard hotels. Luxury hotels are upscale accommodations that offer premium services and amenities, ensuring an opulent experience for guests and their pets. Bookings can be made through offline methods, phone, or online platforms. These hotels cater to various pets, such as cats, dogs, and others.
The pet-friendly hotel market research report is one of a series of new reports from The Business Research Company that provides pet-friendly hotel market statistics, including pet-friendly hotel industry global market size, regional shares, competitors with a pet-friendly hotel market share, detailed pet-friendly hotel market segments, market trends, and opportunities, and any further data you may need to thrive in the pet-friendly hotel industry. This pet-friendly hotel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pet friendly hotel market size has grown rapidly in recent years. It will grow from $3.66 billion in 2023 to $4.10 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth during the historic period can be attributed to the increased demand for pet-inclusive lodging, the emergence of social media platforms, a rise in pet adoption, the growth of travel agencies, and a higher demand for luxurious hotels.
The pet friendly hotel market size is expected to see rapid growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.The growth anticipated during the forecast period can be attributed to the rising number of pet owners, an increasing aging population, a growing preference for environmentally conscious products, expansion in travel and tourism, and a higher demand for specialized pet care services. Key trends for this period include technological integration, product innovations, the introduction of cat grooming services, the use of smart technology for improved pet monitoring, and the development of stay-and-play packages.
The growing trend of pet ownership is projected to drive the expansion of the pet-friendly hotel market. Pet ownership involves caring for an animal, typically a domesticated species, for companionship, work, or recreational purposes. This increase in pet ownership can be attributed to various factors, including evolving social trends, urbanization, and a rise in young adults delaying parenthood. Pet-friendly hotels cater to this trend by facilitating easier, more enjoyable, and less stressful travel with pets, strengthening the bond between pets and their owners, and promoting a pet-inclusive lifestyle. For example, in June 2021, The American Pet Products Association (APPA), a US-based trade organization, reported that pet ownership in U.S. households increased from 67% in 2021 to 70% in 2022. As a result, the rise in pet ownership is driving growth in the pet-friendly hotel market.
Key players in the pet-friendly hotel sector are concentrating on delivering innovative services, such as pet-friendly packages, to attract pet-owning travelers, enhance the guest experience, and differentiate themselves in a competitive market. These packages typically offer a range of healthy food and drink options specifically designed for canine guests and their owners. They often include specialized amenities such as custom pet beds, gourmet pet food, and pet-sitting services. For instance, in April 2024, Moxy Hotels, a US-based hospitality company, teamed up with Sir Woofchester's Canine Hospitality, a UK-based hospitality firm, to launch enhanced dog-friendly packages at its hotels. These packages feature dog welcome kits with treats and toys, as well as access to pet-friendly communal spaces. This trend highlights the increasing focus on providing comprehensive, pet-inclusive experiences to attract and retain pet-owning travelers, reflecting broader shifts in consumer behavior toward integrating pets into their lifestyles.
In February 2024, InterContinental Hotels Group PLC, a UK-based hotel management and hospitality service provider, acquired Kimpton Hotels & Restaurants for an undisclosed amount. This acquisition aims to broaden IHG Hotels & Resorts' range of accommodation options, aligning with the evolving preferences of modern travelers who seek tailored and memorable stays. Kimpton Hotels & Restaurants, a US-based hospitality company, is known for offering pet-friendly services.
Major companies operating in the pet friendly hotel market are Marriott International, Loews Hotels, PetSmart Inc., Hilton Worldwide Holdings Inc., Fairmont Hotels & Resorts, Hyatt Hotels Corporation, InterContinental Hotels Group, Wyndham Hotels & Resorts, Montage Hotels & Resorts, Red Roof Inn, Auberge Resorts Collection, The Hoxton, Langham Hospitality Group, Le Bristol Paris, Oetker Collection, Best Friend Pet Care, Dusit International, Barkley Pet Hotel & Day Spa, Eden Roc Cap Cana, Old Towne Pet Resort LLC, Inn By The Sea
North America was the largest region in the pet friendly hotel market in 2023. The regions covered in the pet friendly hotel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pet friendly hotel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pet-friendly hotel market includes revenues earned by entities by providing grooming, pet transportation, and pet siting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pet Friendly Hotel Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pet friendly hotel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pet friendly hotel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pet friendly hotel market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.