Floating hotels are a relatively new concept of accommodation where the entire structure of the hotel is built on ships or platforms floating on water. The basic idea behind floating hotels is to provide guests with an experience of staying on water while enjoying facilities of a regular luxury hotel. These structures can either be stationary anchored near coastal areas or move around various tourist destinations offering scenic views. Initially started as cruise ships, floating hotels now offer amenities like spa, swimming pools, restaurants, and conference halls on the upper decks while the lower decks are anchored securely on water. They provide a unique experience of staying on water and have potential to tap into the rising demand of experience-based tourism worldwide.
Market Dynamics:
The floating hotels market is driven by growing interest of travelers in experience-based niche accommodations and the desire to stay close to nature. Rapid expansion of tourism industry globally with increasing number of cruise passengers every year is positively impacting the market. However, high initial investment costs for developing floating infrastructure and regulatory issues regarding environmental pollution pose challenges. Opportunities lie in integrating latest green technologies to develop eco-friendly designs and targeting new demographic segments like family travelers and couples looking for exotic holiday experiences. Market players can also leverage opportunities through strategic partnerships with local tourism boards for destination promotions.
Key Features of the Study:
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