Bed and Breakfast Accommodation Market Report 2024

This Bed and Breakfast Accommodation industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The bed and breakfast accommodation market size has grown strongly in recent years. It will grow from $30.71 billion in 2023 to $32.3 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth during the historic period can be attributed to several factors such as a steady expansion in budget-focused accommodations, with platforms capturing a significant share of the budget accommodation market by appealing to consumers seeking a more localized travel experience, an increase in demand and growth of bed and breakfast accommodations, and the expanding middle class with rising disposable income.

The bed and breakfast accommodation market size is expected to see strong growth in the next few years. It will grow to $39.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth during the forecast period can be attributed to several factors such as an increasing demand for unique and authentic travel experiences, a rise in domestic and regional tourism, growing overall tourism, a heightened interest in eco-friendly and sustainable travel, and a growing demand for experiential travel. Key trends for the forecast period include the implementation of new health and safety measures, contactless check-in, enhanced cleaning protocols, social distancing practices, and innovative services.

The growth of the bed and breakfast accommodation market is expected to be driven by the rise in tourism. Tourism involves traveling to and staying in locations outside one's usual environment for leisure, business, or other purposes, typically for a limited time. The expansion of tourism is fueled by increasing disposable incomes, improved global connectivity, better access to travel information, and a growing desire for unique cultural experiences and leisure activities. Bed and breakfast accommodations contribute to tourism by providing personalized and distinctive lodging experiences that attract travelers looking for local charm and hospitality. For example, in July 2022, the International Trade Administration reported a significant increase in non-resident international visitors to the United States, with a total of 5,210,752 visitors, up 160.8% compared to July 2021. Thus, the growth in tourism is boosting the bed and breakfast accommodation market.

Leading companies in the bed and breakfast market are focusing on innovative services to gain a competitive edge. One such service is Express Start Breakfast, which offers a quick and convenient meal with a variety of hot and cold options, designed for guests who need a satisfying breakfast on the go. For instance, in April 2023, InterContinental Hotels Group launched the Holiday Inn Express Riyadh, marking the first Holiday Inn Express in Saudi Arabia. This hotel features modern room designs with smart technology, including smart TVs and high-speed WiFi, enhancing the guest experience. The complimentary Express Start Breakfast provides a flexible food and beverage option, catering to modern travelers. The hotel is designed for a hassle-free stay, with features such as speedy check-in and power showers to help guests recharge quickly.

In December 2022, B&B Hotels, a France-based budget hotel chain, acquired Hotel Aachen-Hbf for an undisclosed amount. This acquisition expands B&B Hotels' portfolio to 164 properties in Germany, with plans for extensive rebranding to align the hotel with B&B's design and standards. Hotel Aachen-Hbf is a modern bed and breakfast accommodation based in Germany.

Major companies operating in the bed and breakfast accommodation market are Marriott International Inc., MGM Resorts International, Radisson Blu Hotels, Rosewood Hotels and Resorts, Hilton Worldwide Holdings, Hyatt Hotels Corporation, Four Seasons Hotels and Resorts, AccorHotels, InterContinental Hotels Group, Best Western International, Shangri-La Hotels, Choice Hotels International, Wyndham Hotels & Resorts, Red Roof Inn, B&B Hotels, The Leading Hotels of the World, Comfort Inn, Relais & Châteaux, Travelodge Hotels, La Quinta Inns & Suites, Quality Inn, Econo Lodge, Microtel Inn & Suites, Knights Inn.

Asia-Pacific was the largest region in the bed and breakfast accommodation market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the bed and breakfast accommodation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the bed and breakfast accommodation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A bed and breakfast accommodation is a lodging type that provides overnight stays and breakfast, but typically does not offer other meals. These establishments are generally small, with 4 to 11 rooms, and are often run by private individuals or families. Guests usually stay in private bedrooms with bathrooms, and breakfast is typically included in the room rate and served in a shared dining area.

The main categories of bed and breakfast accommodations are historic homes, countryside retreats, and coastal properties. Historic homes are properties with notable historical or architectural significance, often maintained for their heritage and appeal. Bookings can be made online or directly, and the accommodations cater to various traveler types, including domestic, solo, and group or family travelers.

The bed and breakfast accommodation market research report is one of a series of new reports that provides bed and breakfast accommodation market statistics, including bed and breakfast accommodation industry global market size, regional shares, competitors with an bed and breakfast accommodation market share, detailed bed and breakfast accommodation market segments, market trends, and opportunities, and any further data you may need to thrive in the bed and breakfast accommodation industry. This bed and breakfast accommodation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bed and breakfast accommodation market includes revenues earned by entities by providing services such as guided tours, transportation, corporate retreats, and special packages. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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