Global Budget Hotels Market to 2023: Market data and insights on the global luxury hotels industry

Global Budget Hotels Market to 2023: Market data and insights on the global luxury hotels industry

Summary

GlobalData’s Budget Hotels market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the budget hotel market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the segment’s leading players and looks at how companies can better meet their customers' needs.

Key Highlights

- In 2018, the US reported the highest revenue in the budget hotel market in the world, followed by the UK and France. Its revenue increased by 3.5% year-on-year, mainly due to an increase in Average Daily Rate (ADR).
- Branded budget hotels accelerated growth in the UK. In terms of revenue, the UK was the second largest market for budget hotels in the world in 2018.
- The hotel market in the Middle East, which was earlier known for luxury stay has seen a shift towards budget category with the growing importance of tapping the market of millennial travelers.

Scope

- GlobalData’s Budget Hotels market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the budget hotel market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe.
- It also features profiles of some of the segment’s leading players and looks at how companies can better meet their customers' needs.

Reasons to buy

- Gauge which are the biggest and most promising regional markets for the budget hotels market
- Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
- Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.