Global Budget Hotels Market 2016 Market Size, Share, Trends and Forecast 2016
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Global Budget Hotels Market Share, Size, Trends, Market Insights, Analysis, Growth, Outlook and Forecasts to 2019
The global budget hotels market registered moderate growth in 2014, based on the Canadean analysis of 40 countries around the world. The expanding domestic and international tourism market, along with a rise in travelers that prefer to pay less for accommodation and avoid as many frills as possible, will continue to support the growth over the forecast period (2015-2019).
Key Findings
- The US is the largest market in the world for budget hotels in terms of room supply (867,695 rooms in 2014) and the UK is the second largest but is significantly smaller (just 35% of the US' total size). The US also tops the list in terms of revenues and again the UK is ranked second, though with a relatively smaller difference compared to the room supply difference. This clearly implies that the US market is saturated and registers low occupancy rates (57% in 2014). The UK recorded the fourth highest occupancy rate in 2014 while Hong Kong topped the list (92% in 2014).
- Japan recorded the highest number of guests in 2014 and Indonesia was the fastest growing market, at an average annual rate of 15.6% during the historic period (2010-2014). Hong Kong registered the highest RevPAR in 2014 (US$90), while Mexico recorded the fastest-growth (CAGR 11.6%). China registered the fastest-growth in terms of revenues during the historic period (15.2%). Portugal recorded the fastest-growth in terms of room supply (CAGR 11%).
Browse Detail Report With TOC @http://www.radiantinsights.com/research/the-global-budget-hotels-market-to-2019
Synopsis
Canadean's report - The Global Budget Hotels Market to 2019 - provides detailed information on global budget hotels industry, analyzing market data and providing insights.
What else does this report offer?
Historic and forecast revenue of global budget hotels market covering 40 countries
Detailed region-wise...
The global budget hotels market registered moderate growth in 2014, based on the Canadean analysis of 40 countries around the world. The expanding domestic and international tourism market, along with a rise in travelers that prefer to pay less for accommodation and avoid as many frills as possible, will continue to support the growth over the forecast period (2015-2019).
Key Findings
- The US is the largest market in the world for budget hotels in terms of room supply (867,695 rooms in 2014) and the UK is the second largest but is significantly smaller (just 35% of the US' total size). The US also tops the list in terms of revenues and again the UK is ranked second, though with a relatively smaller difference compared to the room supply difference. This clearly implies that the US market is saturated and registers low occupancy rates (57% in 2014). The UK recorded the fourth highest occupancy rate in 2014 while Hong Kong topped the list (92% in 2014).
- Japan recorded the highest number of guests in 2014 and Indonesia was the fastest growing market, at an average annual rate of 15.6% during the historic period (2010-2014). Hong Kong registered the highest RevPAR in 2014 (US$90), while Mexico recorded the fastest-growth (CAGR 11.6%). China registered the fastest-growth in terms of revenues during the historic period (15.2%). Portugal recorded the fastest-growth in terms of room supply (CAGR 11%).
Browse Detail Report With TOC @http://www.radiantinsights.com/research/the-global-budget-hotels-market-to-2019
Synopsis
Canadean's report - The Global Budget Hotels Market to 2019 - provides detailed information on global budget hotels industry, analyzing market data and providing insights.
What else does this report offer?
Historic and forecast revenue of global budget hotels market covering 40 countries
Detailed region-wise...