According to a new market research report published by Credence Research “Capsule Hotels Market (by Type: Side-by-side and Separate Capsules; by Number of Capsule: Up to 50, From 50 to 100, and Above 100) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the capsule hotels market registered market value of US$ 167.07 Mn in 2017 and estimated to grow with a CAGR of 6.3% during the forecast period from 2018 to 2026.
The complete report is available at https://www.credenceresearch.com/report/capsule-hotels-market
The concept of capsule hotel was introduced in 1979 in the city of Osaka in the Kansai region of Japan and on the island of Honshu. Capsule hotels were the literal symbols of Japanese practicality and efficiency. Since its inception, capsule hotels came a long way and are gaining popularity not only in Japan and other Asia Pacific countries but all across the globe. Modern-day travelers are becoming frugal in their spending on hotels and want only the basic amenities from their accommodation. Not only travelers but even corporates are preferring to board a capsule hotel compared to any other luxurious hotels in order to cut down on their business travel budgets. Growing trend of traveling on shoestring budget certainly encouraged the demand for capsule hotels.
Hospitality industry is witnessing a rapid proliferation from past few decades and the revolution is expected to proliferate even further in coming years. Listing of capsule hotels on travel and third party booking websites helped the capsule hotel market to grow at a considerable pace. The growth is primarily attributed to the Asia Pacific region especially in Japan, China, Singapore, and Taiwan. However, the growth is not limited to only aforementioned countries. A significant rise in capsule hotels is observed in European countries such as UK and Russia. Besides, new ventures in the United States are also encouraging growth of capsule hotels market worldwide and expected to reach new highs of market value in coming years.
The research analysis covers exhaustive analysis of leading capsule hotels manufacturing companies including Shinjuku Kuyakusho-mae Capsule Hotel, Enaka Asakusa Central Hostel, Nihonbashi Muromachi BAY HOTEL, Tokyo Ginza BAY HOTEL, Oak Hostel Fuji, NADESHIKO HOTEL SHIBUYA, Capsule Value Kanda, Nine Hours Shinjuku-north, The Wink Hotel, inBox Capsule Hotel, CityHub Amsterdam, Pengheng Space Capsules Hotel, The Skylodge Adventure Suites, Capsule Hotel Rumor Plaza, and Tubotel. Capsule hotel companies and owners are revolutionizing overall hospitality industry by providing a cost-effective & flexible way in an experimental design to travelers. These companies are mushrooming new ventures all across the globe with innovative, comfortable, and practical capsules or sleeping pods. Attracting more and more guests to this relative novice concept is one of the prime objectives for hotel companies and their efforts have started to show colors of growth in past few years. The market is highly competitive in Asia Pacific and especially in Southeast Asia. However, tremendous growth opportunities are waiting for these companies to expand their business in North America, Europe and Rest of the World. Hotel companies are sure to face stiff competition in coming years with new entrants buckling up to enter into the market.