Travel Accommodation Market

Global Travel Accommodation Market by Types (Hostels, Vacation Rentals, Hotels, Resorts, and Others), Application (Professional , Leisure, and Others), Pricing (Economy, Mid-range, and Luxury), Mode of Booking (Direct Bookings , Online Travel Agency, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: CG-3877
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 215
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The global travel accommodation market size was valued at $631.9 billion in 2020, and is anticipated to reach $871 billion by 2028, at a CAGR of 4.55% during forecast period.

Travel Accommodation Market Key Takeaways

Travel accommodation specifies the activity done by the travellers for the purpose of stay. Travel accommodation is the accommodation that refers to stay by exchanging the amount as an accommodation to stay. Accommodation is multiply classified and available for travellers that include resorts, hotels, and vacation rental apartments. This accommodation are classified according to the preferences and the overall budget of the travellers, availability of the properties, rooms, the purpose of travel, and as well as the vacation destinations. Travellers can book their accommodation through various sources that includes the travel agencies, online hotels booking application or directly from the website or physically.

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing tourism and social engagement to explore new places has boost in last couple of year, which is projected to drive the market.
  • The growth in the hotel industries and travel accommodation is on its higher graph due to several initiatives by government on tourism, and by increasing the engagement on media and social media platforms.
  • Lack of security, environmental issues, uncontrolled online frauds, and racism are some of the major factors affecting the hotels, travel accommodation and tourism market.
  • Development of medical tourism and increasing disposable income leads to boost the scope and potential for the travel accommodation and hotel industries and is expected to create lucrative opportunities for the market players.

Scope of the report:

The report on travel accommodation market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Travel Accommodation Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018-2019

Forecast Period

2021-2028

Segmentation

Types (Hostels, Vacation Rentals, Hotels, Resorts, and Others), Application (Professional, Leisure, and Others), Pricing (Economy, Mid-range, and Luxury), Mode of Booking (Direct Bookings, Online Travel Agency, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players covered in the Report

Marriott International, Hyatt Hotels Corporation, Wyndham Destinations, Hilton Worldwide Holdings Inc., Accor Hotels Group, Radisson Hotel Group, Airbnb Inc., A&O Hotels and Hostels GmbH, Red Lion Hotels Corporation, and Oyo Rooms

Global Travel Accommodation Market Segment Insights:

The hotels segment is projected to hold major market share

Based on types, the travel accommodation market is segregated into hostels, vacation rentals, hotels, resorts, and others. The hotels segment is projected to hold major market share during the forecast period, owing to increasing engagement in tourism, exploring new places, and rising disposable income boosts the segment.

Travel Accommodation Market By Types

The leisure segment is projected to expand at a high CAGR

On the basis of applications, the travel accommodation market is fragmented into professional, leisure, and others. The leisure segment is estimated to expand at a high CAGR. The leisure travel is mostly done to relax from work and enjoy the vacation. Mostly people spent their vacation on relaxing themselves by taking meditation therapy, body & hair spa and to get involve in physical activities such as trekking, campaign, and other adventurous activities.

The mid-range segment is projected to hold significant market share

In terms of pricing, the travel accommodation market is divided into economy, mid-range, and luxury. The midrange segment is projected to hold significant market share. The growth of market is attributed to affordable prises provided by different agencies and the pre and post travel services at low cost. As traveller spent more money of their disposable income in exploring rather than any other thing this can boost the market.

Travel Accommodation Market By Pricing

The online travel agency segment is expected to grow at a rapid pace

Based on mode of booking, the travel accommodation market is categorised into direct bookings, online travel agency, and others. The online travel agency segment is expected to grow at a rapid pace. Online travel agencies are more preferable by the tourist because of its unique and customizable vacation plans. These online agencies are associated with the hotels in destination and guides. The engagement of the online travel agency is increasing due to its affordable changes and with multiple discounts, offers, and facilities.

North America is anticipated to dominate the market

In terms of regions, the global travel accommodation market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to dominate the market. Large infrastructure projects, improvement in air connectivity are some of the factors that boost the market.

Segments

By Type
  • Hostels
  • Vacation Rentals
  • Hotels
  • Resorts
  • Others
By Application
  • Professional
  • Leisure
  • Others
By Pricing
  • Economy
  • Mid-range
  • Luxury
By Mode of Booking
  • Direct Bookings
  • Online Travel Agency
  • Others
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players
  • Marriott International
  • Hyatt Hotels Corporation
  • Wyndham Destinations
  • Hilton Worldwide Holdings Inc
  • Accor Hotels Group
  • Radisson Hotel Group
  • Airbnb Inc
  • A&O Hotels and Hostels GmbH
  • Red Lion Hotels Corporation
  • Oyo Rooms

Competitive Landscape

Key players in the travel accommodation market includes Marriott International, Hyatt Hotels Corporation, Wyndham Destinations, Hilton Worldwide Holdings Inc., Accor Hotels Group, Radisson Hotel Group, Airbnb Inc., A&O Hotels and Hostels GmbH, Red Lion Hotels Corporation, and Oyo Rooms. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Travel Accommodation Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Travel Accommodation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Travel Accommodation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Travel Accommodation Market - Supply Chain
  4.5. Global Travel Accommodation Market Forecast
     4.5.1. Travel Accommodation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Travel Accommodation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Travel Accommodation Market Absolute $ Opportunity
5. Global Travel Accommodation Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Travel Accommodation Market Size and Volume Forecast by Types
     5.3.1. Hostels
     5.3.2. Vacation Rentals
     5.3.3. Hotels
     5.3.4. Resorts
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Travel Accommodation Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Travel Accommodation Market Size and Volume Forecast by Applications
     6.3.1. Professional
     6.3.2. Leisure
     6.3.3. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Travel Accommodation Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Travel Accommodation Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Travel Accommodation Demand Share Forecast, 2019-2026
8. North America Travel Accommodation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Travel Accommodation Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Travel Accommodation Market Size and Volume Forecast by Types
     8.4.1. Hostels
     8.4.2. Vacation Rentals
     8.4.3. Hotels
     8.4.4. Resorts
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Travel Accommodation Market Size and Volume Forecast by Applications
     8.7.1. Professional
     8.7.2. Leisure
     8.7.3. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Travel Accommodation Demand Share Forecast, 2019-2026
9. Latin America Travel Accommodation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Travel Accommodation Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Travel Accommodation Market Size and Volume Forecast by Types
     9.4.1. Hostels
     9.4.2. Vacation Rentals
     9.4.3. Hotels
     9.4.4. Resorts
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Travel Accommodation Market Size and Volume Forecast by Applications
     9.7.1. Professional
     9.7.2. Leisure
     9.7.3. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Travel Accommodation Demand Share Forecast, 2019-2026
10. Europe Travel Accommodation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Travel Accommodation Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Travel Accommodation Market Size and Volume Forecast by Types
     10.4.1. Hostels
     10.4.2. Vacation Rentals
     10.4.3. Hotels
     10.4.4. Resorts
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Travel Accommodation Market Size and Volume Forecast by Applications
     10.7.1. Professional
     10.7.2. Leisure
     10.7.3. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Travel Accommodation Demand Share Forecast, 2019-2026
11. Asia Pacific Travel Accommodation Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Travel Accommodation Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Travel Accommodation Market Size and Volume Forecast by Types
     11.4.1. Hostels
     11.4.2. Vacation Rentals
     11.4.3. Hotels
     11.4.4. Resorts
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Travel Accommodation Market Size and Volume Forecast by Applications
     11.7.1. Professional
     11.7.2. Leisure
     11.7.3. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Travel Accommodation Demand Share Forecast, 2019-2026
12. Middle East & Africa Travel Accommodation Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Travel Accommodation Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Travel Accommodation Market Size and Volume Forecast by Types
     12.4.1. Hostels
     12.4.2. Vacation Rentals
     12.4.3. Hotels
     12.4.4. Resorts
     12.4.5. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Travel Accommodation Market Size and Volume Forecast by Applications
     12.7.1. Professional
     12.7.2. Leisure
     12.7.3. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Travel Accommodation Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Travel Accommodation Market: Market Share Analysis
  13.2. Travel Accommodation Distributors and Customers
  13.3. Travel Accommodation Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Marriott International
     13.4.2. Hyatt Hotels Corporation
     13.4.3. Wyndham Destinations
     13.4.4. Hilton Worldwide Holdings Inc
     13.4.5. Accor Hotels Group
     13.4.6. Radisson Hotel Group
     13.4.7. Airbnb Inc
     13.4.8. A&O Hotels and Hostels GmbH
     13.4.9. Red Lion Hotels Corporation
     13.4.10. Oyo Rooms
By Type
  • Hostels
  • Vacation Rentals
  • Hotels
  • Resorts
  • Others
By Application
  • Professional
  • Leisure
  • Others
By Pricing
  • Economy
  • Mid-range
  • Luxury
By Mode of Booking
  • Direct Bookings
  • Online Travel Agency
  • Others
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players
  • Marriott International
  • Hyatt Hotels Corporation
  • Wyndham Destinations
  • Hilton Worldwide Holdings Inc
  • Accor Hotels Group
  • Radisson Hotel Group
  • Airbnb Inc
  • A&O Hotels and Hostels GmbH
  • Red Lion Hotels Corporation
  • Oyo Rooms

Key players in the travel accommodation market includes Marriott International, Hyatt Hotels Corporation, Wyndham Destinations, Hilton Worldwide Holdings Inc., Accor Hotels Group, Radisson Hotel Group, Airbnb Inc., A&O Hotels and Hostels GmbH, Red Lion Hotels Corporation, and Oyo Rooms. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Travel Accommodation Market By Key Players

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