U.S. Hotels, Resorts, and Cruise Lines Market
Report ID: SQMIC25O2021
Report ID: SQMIC25O2021
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Report ID:
SQMIC25O2021 |
Region:
Country |
Published Date: December, 2025
Pages:
223
|Tables:
35
|Figures:
74
U.S. Hotels, Resorts, and Cruise Lines Market size was valued at USD 370.81 Billion in 2024 and is poised to grow from USD 396.03 Billion in 2025 to USD 670.34 Billion by 2033, growing at a CAGR of 6.8% during the forecast period (2026–2033).
The demand is being driven by the expansion of the American travel and tourism industries. With historically low occupancy, significant job losses, and hotel closures all throughout the country in 2020, the hotel industry suffered its worst year ever. According to the American Hotel and Lodging Association, national and state forecasts for 2022 indicate a delayed recovery for the industry in terms of hotel occupancy in the United States because travel demand is still below average.
Hotel occupancy in Florida was among the highest in the nation in 2021, beating the national average of 48.1%, according to the Hotel Data Conference Edition, 2021. Because of this, hotel occupancy in the U.S. has been rising gradually since late January 2021, when it increased to a record-breaking 58.9%. The occupancy rate was still 55.7% even after taking into account hotels that were temporarily closed because of the epidemic. In addition, leisure travel is anticipated to resume first, with consumers’ confidence in the nation's vaccine coverage and their capacity to travel once more in 2021, according to the AHLA's state of the hotel business 2021 study.
While demand decreased in the third quarter of 2021, the slowdown is due to delta virus variants, older clients, fully immunized travelers who are concerned about COVID-19, and families who are affected by cruise operators only accepting fully immunized passengers over the age of 12. Hotel staffing levels had to be cut back as a result of the pandemic, and new duties had to be assigned to employees. Due to their larger average property size and importance as major employment, metropolitan hotels have found this challenging. As the occupancy rates in urban and airport hotels have been appallingly low and much below the national average, a significant boost in hotel employment might not happen until group and business travel picks up again in the upcoming years.
Furthermore, the number of positions is anticipated to increase somewhat in 2022 compared to 2021, although overall direct hotel employees will be 184,092 fewer than in 2019. This is according to AHLA's State of the Hotel Industry 2021 study. Furthermore, it is doubtful that the sector's employment levels will match those of 2019 until at least 2023.
Market snapshot - 2026-2033
Global Market Size
USD 347.2 billion
Largest Segment
Hotels
Fastest Growth
Hotels
Growth Rate
6.8% CAGR
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U.S. Hotels, Resorts, and Cruise Lines Market is segmented by Type, Service Type, Property Type, Business Model, Booking Mode, Target Market. Based on Type, the market is segmented into Hotels, Resorts and Cruise Lines. Based on Service Type, the market is segmented into Luxury, Mid-Range and Budget. Based on Property Type, the market is segmented into Full-Service, Limited-Service and Vacation Rental. Based on Business Model, the market is segmented into Independent, Franchise and Management Contract. Based on Booking Mode, the market is segmented into Direct Booking, Online Travel Agents and Travel Agencies (OTAs) and Marketplace Booking. Based on Target Market, the market is segmented into Families, Couples, Business Travelers, Seniors and Millennials.
In 2021, the hotel sector accounted for the largest revenue share of around 90% of the market for U.S. hotels, resorts, and cruise lines. The hotel and cruise operators are waiting for group and corporate travel to begin at the same capacity as in 2019, as travel and tourism levels have been changing since March 2020. Given all of the current challenges and limitations, the COVID-19 pandemic has provided a fantastic chance for the hotel industry to engage in cutting-edge contactless technology solutions. In recent years, in addition to online booking systems, customers have demonstrated a considerable interest in technology such as contactless payments, digital messaging, self-service check-in, and smartphone-activated room keys.
The cruise companies claimed they anticipated pent-up demand in the second quarter of 2021, but after a few months, that demand decreased. The epidemic has resulted in huge expenditures for a number of enterprises, forcing them to reduce both their occupancy and staff. Due to expenses related to cruise restarts, Norwegian Cruise anticipates its monthly cash burn to rise to around USD 285 billion in the third quarter from an average of over USD 200 billion in the second quarter.
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The Southeast region of the United States has been experiencing growth in the cruise industry, with Miami serving as the cruise capital of the world and Port Canaveral also experiencing significant expansion. The region is also home to several popular beach destinations such as Myrtle Beach, South Carolina, and the Florida Keys.
The Northeast region of the United States is famous for its extensive history, rich culture, and recognizable icons like the Freedom Trail, Times Square, and the Statue of Liberty. Numerous significant cities, including Boston, New York, and Washington, D.C., are located in the region and draw millions of tourists annually. The Western region of the United States is one of the most popular tourist destinations due to its diverse geography, mild climate, and many attractions. Major cities like Los Angeles, San Francisco, and Las Vegas are popular among tourists, and the region has a high concentration of luxury hotels and resorts.
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The U.S. hotels, resorts, and cruise lines market is highly competitive in nature, with several key players competing for the top share. The market is dominated by a few large players, but there are also many smaller players and regional players who offer unique products and services. These companies offer a range of products and services, including luxury and budget hotels, resorts, and cruise lines. They compete on price, location, quality, and the range of amenities and services offered to customers. The competitive landscape is constantly evolving, with new entrants and emerging technologies challenging established players. The COVID-19 pandemic has also impacted the competitive landscape, with some companies adapting to changing consumer needs and preferences, while others have struggled to survive.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the U.S. Hotels, Resorts, and Cruise Lines market is being driven by the expansion of the American travel and tourism industries. With historically low occupancy, significant job losses, and hotel closures all throughout the country in 2020, the hotel industry suffered its worst year ever. According to the American Hotel and Lodging Association, national and state forecasts for 2022 indicate a delayed recovery for the industry in terms of hotel occupancy in the United States because travel demand is still below average.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 370.81 Billion |
| Market size value in 2033 | USD 670.34 Billion |
| Growth Rate | 6.8% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the U.S. Hotels, Resorts, and Cruise Lines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Hotels, Resorts, and Cruise Lines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Hotels, Resorts, and Cruise Lines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Hotels, Resorts, and Cruise Lines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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