Press release
Global Hostel Market 2020-2024: Expansive Implementation Enhance Growth -Hostelworld Group, Safestay plc, A&O Hotels
The Global Hostel Market Report 2021 provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.Top Key Players in the Global Hostel Market: Hostelworld Group, Safestay plc, A&O Hotels and Hostels, Hostelling International (HI)
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https://www.marketinsightsreports.com/reports/04282009515/global-hostel-market-size-trends-and-forecasts-2020-2024/inquiry?mode=69
Covid-19 Impact and Recovery Analysis:
The global Hostel market report also includes the impact of the Covid-19 pandemic. Moreover, it offers an exhaustive analysis of aspects that will encounter the development of the market pre & post Covid-19 pandemic.
Scope of the Report
The report titled Global Hostel Market: Size, Trends and Forecasts (2020-2024), provides an in depth analysis of the global hostel market by value, by volume, by booking channel, by region, etc. The report also provides a detailed regional analysis of the hostel market, including the following regions: Western Europe, Asia, North America, Latin America, Australia and New Zealand (ANZ), and ROW.
Furthermore, the report 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 global hostel market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global hostel market is highly fragmented with many market players operating worldwide. Some hostel market players operate on a local level while other players operate on a regional and global level. Many local and regional hostel operators provide high-quality accommodation for guests of all ages.
Executive Summary
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.
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.
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https://www.marketinsightsreports.com/reports/04282009515/global-hostel-market-size-trends-and-forecasts-2020-2024?mode=69
Regional Analysis:
The report offers an in-depth assessment of the growth and other aspects of the Hostel market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key factors of this Report:
Business description – A detailed description of the company’s operations and business divisions.
Corporate strategy – Analyst’s summarization of the company’s business strategy.
SWOT Analysis – A detailed analysis of the company’s strengths, weakness, opportunities and threats.
Company history – Progression of key events associated with the company.
Major products and services – A list of major products, services and brands of the company.
Key competitors – A list of key competitors to the company.
Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company.
Detailed financial ratios for the past five years – The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
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