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
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 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.
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Attributes |
Details |
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Report Title |
Travel Accommodation Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018-2019 |
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Forecast Period |
2021-2028 |
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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) |
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Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
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Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
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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.
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.
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
- Professional
- Leisure
- Others
- Economy
- Mid-range
- Luxury
- Direct Bookings
- Online Travel Agency
- Others
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
- 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.
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
- Hostels
- Vacation Rentals
- Hotels
- Resorts
- Others
- Professional
- Leisure
- Others
- Economy
- Mid-range
- Luxury
- Direct Bookings
- Online Travel Agency
- Others
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
- 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.
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