The publisher'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 accommodation 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 market's leading players and looks at how companies can better meet their customers' needs.
Key Highlights
- Two years into the pandemic, the US budget hotel market continued to record the highest total revenue with $20 billion in 2021, representing an annual growth rate of 71.7%.
- The UK and China secured the second and third places with total revenues of $5.7 billion (89.9% annual growth) and $4.8 billion (42.7% annual growth), respectively.
- The budget hotel market performance in 2021 was primarily driven by domestic leisure travel. Countries across the globe saw a hike in demand for domestic leisure travel in 2021, once the COVID-19 restrictions loosened and vaccines became available. Since the risk of the virus was still prevalent, instead of taking international trips, holidaymakers started exploring domestic tourism in greater numbers.
- According to the publisher's forecasts, the budget hotel market in countries such as the US, China, and Brazil is likely to recover to 2019 levels by 2022.
Scope
- The publisher's Budget Hotels Market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the budget accommodation market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the market's leading players and looks at how companies can better meet their customers' needs.
Reasons to Buy
- Understand the impact of COVID-19 on this market
- Gauge which are the biggest and most promising regional markets for the budget accommodation market
- Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
- Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.
Table of Contents
- Snapshot
- Key Trends
- Key Developments
- Key Insights
- Americas
- Asia-Pacific
- Europe
- Middle East and Africa
- Outlook
- Company Profiles
- Red Roof Inn
- HotelF1
- ibis budget
- Premier Inn
- Travelodge Hotels Ltd
- Roots Corporation Ltd
- La Quinta Inns & Suites
- Holiday Inn Express
- Extended Stay America, Inc
- Appendix
- References
- Terminology and definitions
- About the Publisher
Figure 1: Top 10 global markets: total revenue, budget hotels in 2021 ($B)
Figure 2: Top 10 global markets: total revenue, budget hotels in 2021 ($B)
Figure 3: Top five American markets: number of rooms, budget hotels (thousand)
Figure 4: Top five American markets: occupancy rate, budget hotels (%)
Figure 5: Top five Asia-Pacific markets: number of rooms, budget hotels (thousand)
Figure 6: Top five Asia-Pacific markets: occupancy rate, budget hotels (%)
Figure 7: Top five Europe markets: number of rooms, budget hotels (thousand)
Figure 8: Top five Europe markets: occupancy rate, budget hotels (%)
Figure 9: Top five Middle East & Africa markets: number of rooms, budget hotels (thousand)
Figure 10: Top five Middle East & Africa: occupancy rate, budget hotels (%)
Figure 11: Top 10 global markets: total revenue, budget hotels, 2021 versus 2025 ($B)
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Red Roof Inn
- HotelF1
- ibis budget
- Premier Inn
- Travelodge Hotels Ltd
- Roots Corporation Ltd
- La Quinta Inns & Suites
- Holiday Inn Express
- Extended Stay America, Inc
