The Global Resort Market, valued at approximately USD 300.03 billion in 2023, is projected to experience remarkable growt at an impressive compound annual growth rate (CAGR) of 18.2% from 2024 to 2032. This growth is primarily driven by increasing disposable incomes, the expansion of the middle class in emerging markets, and the growing demand for immersive and luxurious travel experiences. As more consumers seek out unique, tailored resort experiences that blend relaxation with various amenities, the market has seen a significant uptick in the popularity of niche segments such as eco-resorts and wellness resorts.

The expansion of the resort industry has been particularly notable in regions like Asia-Pacific and the Middle East, where investments in high-end resort properties have surged to accommodate both domestic and international tourists. These regions are becoming key markets as they offer diverse and luxurious resort experiences that appeal to a wide range of travelers. Additionally, technological advancements have played a pivotal role in the growth of the resort market. The integration of digital technologies, such as online booking platforms, mobile apps, and personalized marketing strategies, has made it easier for consumers to access resort offerings and plan their vacations, contributing to the sector’s rapid expansion.

The rise of experiential travel has further fueled market growth, as travelers increasingly seek out experiences that go beyond traditional leisure activities. Resorts have responded by curating experiences that cater to these evolving consumer preferences, such as cultural tours, adventure sports, and farm-to-table dining. This trend towards experience-driven travel has not only attracted a broader customer base but has also encouraged resorts to innovate and diversify their offerings. This diversification is contributing to both the expansion of the market size and the increase in revenue.

The key regions considered in the study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. the Asia Pacific dominated the resort market in 2023, holding the largest share. The region’s growth is driven by a burgeoning middle class, increased urbanization, and a strong interest in luxury travel experiences. Countries like China, Thailand, Indonesia, and the Maldives are at the forefront of this expansion, offering a diverse range of resort experiences that cater to both domestic and international tourists. In contrast, Europe is projected to grow at the fastest CAGR during the forecast period, benefiting from strong intra-regional travel, increasing demand for luxury experiences, and the continent’s rich cultural heritage. The growth in Europe is further supported by strategic investments in resort development and expansion by major hospitality players.

Major market players included in this report are:
Marriott International, Inc.
Hilton Worldwide Holdings Inc.
Wyndham Hotels & Resorts
Accor S.A.
InterContinental Hotels Group (IHG)
Four Seasons Hotels and Resorts
Banyan Tree Holdings Limited
Hyatt Hotels Corporation
MGM Resorts International
Las Vegas Sands Corp.
Aman Resorts
Melia Hotels International
Fairmont Hotels & Resorts
Shangri-La International Hotel Management Ltd.
Belmond Ltd.
The detailed segments and sub-segments of the market are explained below:
By Resort Type:
Golf Resorts
Beach Resorts
Island Resorts
Lake Resorts
Mountain Resorts
Ski Resorts
Eco-Resorts
Others

By Price Range:
Budget
Midrange
Luxury and Ultra-Luxury

By Booking Mode:
Direct Booking
Travel Agents & Online Travel Agencies (OTAs)
Marketplace Booking

By Region:
North America
U.S.
Canada

Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe

Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:
Historical year – 2022
Base year – 2023
Forecast period – 2024 to 2032

Key Takeaways:
Market Estimates & Forecast for 10 years from 2024 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.