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Hostel Market Detailed Analysis and Huge Growth by Top Players - Hostelworld Group, Safestay plc, A&O Hotels and Hostels
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall Hostel market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Companies Mentioned
Hostelworld Group, Safestay plc, A&O Hotels and Hostels, Hostelling International (HI).
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A hostel can be defined as a budget-friendly type of shared accommodation with a common area. Hostels usually include dorm style rooms for travelers, but also private guests rooms and hotel-like amenities are nowadays common. Hostels tend to focus on creating a sociable environment and cost much less than a hotel.
Hostels provide various benefits to travelers. Few of them are: cheap beds, wireless internet, knowledgeable locals, great locations, meeting other travelers, relaxed atmosphere, communal spirit, and guest kitchen.
Hostels can be divided into different types, which include cheap hostels, party hostels, activity or adventure hostels, eco-hostels, luxury hostels, family hostels and other types of hostels. And, hostel travelers are broadly categorized into two types: Backpackers and Flashpackers.
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The hostel market can be segmented on the basis of booking channel (Online Travel Agencies (OTAs), Offline Intermediaries, Offline Direct and Hostel Websites); and guests (Youth Groups/School Groups, Single Tourists, Families, Couples and Corporate).
The global hostel market has increased at a significant CAGR during the years 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The hostel market is expected to increase due to greater spending by millennials, growing interest for travel, rising middle class population, increasing role of online travel agencies (OTAs), escalating popularity of solo travel, increasing investments in the hostel industry, etc. Yet the market faces some challenges such as overcrowding in hostels, misconceptions about hostels, rise of budget and midscale hotels, etc.
Regional Markets:
North America, Europe, APAC and Rest of the World (Actual Period: 2013-2017, Forecast Period: 2018-2023)
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Table of Contents:
Research Methodology
Executive Summary
Strategic Recommendations
Hostel Market: Product Outlook
Global Hostel Market : Growth and Forecast
Global Hostel Market: Segment Analysis
Global Hostel Market: Regional Analysis
Global Hostel Market drivers
Global Hostel Market Challenges
Global Hostel Market Trends
SWOT Analysis
Company Profiles
Other Report Highlights:
Market Dynamics
Drivers and Restraints
Market Trends
SWOT Analysis
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and Chinese and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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