Global Hostels Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2026
Summary -
A new market
study, titled “Global Hostels Market Analysis, Trends and Opportunities 2020 - 2026” has been featured on
WiseGuyReports.
This report focuses on
the hostels market which is experiencing strong growth. The report gives a
guide to the hostels market which will be shaping and changing our lives over
the next ten years and beyond, including the market's response to the challenge
of the global pandemic.
Reasons to Purchase
• Gain a truly global
perspective with the most comprehensive report available on this market
covering 12+ geographies.
• Understand how the
market is being affected by the coronavirus and how it is likely to emerge and
grow as the impact of the virus abates.
• Create regional and
country strategies on the basis of local data and analysis.
• Identify growth
segments for investment.
• Outperform competitors
using forecast data and the drivers and trends shaping the market.
• Understand customers
based on the latest market research findings.
• Benchmark performance
against key competitors.
• Utilize the
relationships between key data sets for superior strategizing.
• Suitable for
supporting your internal and external presentations with reliable high quality
data and analysis
• Report will be updated
with the latest data and delivered to you within 3-5 working days of order.
Description:
Where is the largest and
fastest growing market for the hostels? How does the market relate to the
overall economy, demography and other similar markets? What forces will shape the
market going forward? The Hostels market global report from the Business
Research Company answers all these questions and many more.
The 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. It places the market within the context of the wider hostels market,
and compares it with other markets.
• The market
characteristics section of the report defines and explains the market.
• The market size
section gives the market size ($b) covering both the historic growth of the
market, the impact of the Covid 19 virus and forecasting its recovery.
• Market segmentations
break down market into sub markets.
• The regional and
country breakdowns section gives an analysis of the market in each geography
and the size of the market by geography and compares their historic and
forecast growth. It covers the impact and recovery trajectory of Covid 19 for
all regions, key developed countries and major emerging markets.
• Competitive landscape
gives a description of the competitive nature of the market, market shares, and
a description of the leading companies. Key financial deals which have shaped
the market in recent years are identified.
• The trends and
strategies section highlights the likely future developments in the market and
suggests approaches companies can take to exploit this.
• The hostels market
section of the report gives context. It compares the hostels market with other
segments of the hostels market by size and growth, historic and forecast. It analyses
GDP proportion, expenditure per capita, hostels indicators comparison.
Scope
Markets Covered: 1) By
Type: Students; Workers; Others 2) By Price Point: Economy; Mid-Range; Luxury
3) By Mode of Booking: Online Bookings; Direct Bookings; Others
Companies Mentioned:
Hostelworld; Hostelling International; Green Tortoise Hostel; London
Backpackers; Newquay Backpackers
Countries: Brazil;
China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA
and Australia
Regions: Asia-Pacific; Western
Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years
historic and ten years forecast.
Data: Ratios of market
size and growth to related markets, GDP proportions; per capita expenditure.,
Data segmentations:
country and regional historic and forecast data, market share of competitors,
market segments.
Sourcing and
Referencing: Data and analysis throughout the report is sourced using end
notes.
Major players in the
hostels market are Hostelworld, Hostelling International, Green Tortoise
Hostel, London Backpackers, Newquay Backpackers, Canada Hostels, WOKSEN,
Cloudbeds, A&O Hotels and Hostels, and OPERA Property Management System
(PMS).
The global hostels
market is expected to grow from $6.08 billion in 2019 and to $6.13 billion in
2020 at a growth rate of 1%. The slow growth in 2020 is mainly due to the
economic slowdown across countries owing to the COVID-19 outbreak and the
measures to contain it. The market is then expected to grow and reach $7.5 billion
in 2023 at CAGR of 6.8%.
The hostels market
consists of sales of hostels and related services. A hostel can be described as
a kind of budget-friendly shared accommodation that has a common area. Hostels
typically have dorm-style rooms for travelers, but private rooms and hotel-like
facilities are also available nowadays. Hostels prefer to concentrate on
building a sociable atmosphere and are much less costly than a hotel.
The introduction of
hybrid hostels is a key trend in the hostels market. To satisfy young urban
professional travelers, hybrid hostels combines the affordability and
sociability of dorm-accommodation with the upscale facilities of traditional
hotels. Stay Hybrid Hostel is centrally located in Thessaloniki, near the
Ladadika and Valaoritou areas, every room at Stay Hybrid Hostel is
air-conditioned, with exclusive music references. Personal rooms with personal
facilities, tables for beds, a small desk, a wardrobe and a flat-screen TV, the
vibrant Aristotelous Square is only 601 meters away, from where guests can enjoy
fantastic sunset and views of the Thermaikos Gulf.
Misconceptions held by
the population is the major factor restraining the hostels market. There are
many misconceptions held about hostels globally, that often lead to people
create a negative opinion on them. Generally, people assume hostels are only
for young people, some feel that the hostels are unhygienic, and they're not
safe. In addition, people who had bad experience in hostels have generalized
the notion for all the hostels and refrain from using them. Such misconceptions
limit the growth of the hostels market.
The greater spending by
millennials (aged 18-35) is a key factor driving the growth of the hostels
market. Due to low cost, good value, experience-based accommodation, convenient
places, and opportunities to meet other travelers’ millennials are opting
hostels. More than 70% of hostel travelers are millennials, of whom 15% have
spent the last 12 months in a hostel. In the U.S., 85% of millennial hostel
travelers have taken a foreign trip in the past 12 months-compared to just 33%
of all U.S. leisure travelers. The hostel industry has seen strong growth
driven by millennial travelers (aged 18-35) looking to spend more money on
longer trips and see the world as much as possible.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5320592-hostels-global-market-report-2020-30-covid-19
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