Press release
2024 Hostels Market Report : Market Size, Growth Drivers, And Key Trends | A&O Hotels and Hostels, Che Lagarto, St Christopher's Inns, Vietnam Backpacker Hostels
Hostels Global Market Report
The Business Research Company offers in-depth market insights through Hostels Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The hostels market size has grown steadily in recent years. It will grow from $6.35 billion in 2023 to $6.64 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population, a rise in disposable income, acceptance of solo travel and an increase in paid leaves globally.
The hostels market size is expected to see steady growth in the next few years. It will grow to $8.06 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to millennial travelers, rising spend on leisure, shift in travel trends, the resurgence of staycations, government initiatives, increasing internet penetration and smartphone usage and an increase in budget-conscious travelers. Major trends in the forecast period include focusing on hybrid hostels, focusing on eco-friendly hostel pattern, focusing on yoga hostels providing health benefits, leveraging digital technology in their hotel management systems and adopting artificial intelligence technology for higher engagement.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=5469&type=smp
Market Segmentation:
The hostels market covered in this report is segmented -
1) By Price Point: Economy, Mid-Range, Luxury
2) By Type: Students, Workers, Other Types
3) By Booking: Online Bookings, Direct Bookings, Other Booking Modes
Major Driver - Rise In Solo Travel Fuels Hostel Market Growth
The rise of solo travel is a key factor driving the growth of the hostel market. Due to low cost, good value, experience-based accommodation, convenient places, and opportunities to meet other travelers, solo travelers are opting for hostels. For instance, according to Solo Travel Statistics and Data: 2021-2022 published by Solo Traveler, a US-based provider of tips and advice on destinations to solo travelers, in the survey, 70% of respondents said they were ready to travel internationally again in 2021. More people, regardless of age, indicated that they typically spend $1,000 to $2,000 per week on travel. This month, Google searches for solo travel since April 2020 quadrupled to a new high, with demand visible across all age groups. Therefore, the rise in solo travel is driving the growth of the hostel market.
Competitive Landscape:
Major companies operating in the hostels market report are A&O Hotels and Hostels, Che Lagarto, St Christopher's Inns, Vietnam Backpacker Hostels, Loki Hostels, goSTOPS, MEININGER Hotels, Bohemian Hostels, Hotelogix PMS, Sundance Hostel, Beijing Downtown Travelotel, 11 Youth Hostel, Hostel One, Lijiang Garden Inn, Mad Monkey Hostels, Chengdu Dragon Town Sichuan Style Hostel, The Hosteller, Kunming Cloudland Youth Hostel, Viajero, Grand Pearl Hostel for Boys, New Teddy Hostel, Plus Hostels, Toc Hostel & Suites, OPERA Property Management System (PMS), Backpacker Panda, Generator Hostels, Hostelling International, Posadas Group, YHA England & Wales, Clink Hostels, Mix, Safestay Plc, Combo Hostels, Vedanta Wake Up, Freehand Hotels, Hostelling International Canada, high garden hostels (Nigeria), Canada Hostels, Wombat's Hostels, Cloudbeds, Pakachere Backpackers Lodge, Hotels. Ng, WOKSEN, Wild Rover, Rodamon Hostel, Gaviota, Atlantica, Hop Inn, Green Tortoise Hostel, Moustache, Safestay, The BIG Backpackers, Dar Surf Hostel, HomeStar - Jumeirah Beach, Nomads, elmenus, Pappi Chulo, International Youth Hostels (YHAI), Azalaï HotelsTented Adventures, The Hostel Crowd
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/hostels-global-market-report
Top Trend - Emerging Trend Of Hybrid Hostels
The introduction of hybrid hostels is a key trend in the hostel market. To satisfy young urban professional travelers, hybrid hostels combine the affordability and sociability of dorm accommodation with the upscale facilities of traditional hotels. For instance, the Stay Hybrid Hostel is centrally located in Thessaloniki, near the Ladadika and Valaoritou areas. Every room at Stay Hybrid Hostel is air-conditioned, with exclusive music references. They offer personal rooms with personal facilities, tables for beds, a small desk, a wardrobe, and a flat-screen TV.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hostels Market Characteristics
3. Hostels Market Trends And Strategies
4. Hostels Market - Macro Economic Scenario
5. Hostels Market Size And Growth
…..
27. Hostels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release 2024 Hostels Market Report : Market Size, Growth Drivers, And Key Trends | A&O Hotels and Hostels, Che Lagarto, St Christopher's Inns, Vietnam Backpacker Hostels here
News-ID: 3425279 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Hostel
The Rise In Experiential Tourism Is Driving Growth In The Youth Hostel Market: A …
The Youth Hostel Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Youth Hostel Market?
The youth hostel market has experienced strong growth in recent years. It will grow from $4.26 billion in 2024 to $4.61 billion in 2025, with…
Primary Catalyst Driving Youth Hostel Market Evolution in 2025: The Rise In Expe …
What Is the Future Outlook for the Youth Hostel Market's Size and Growth Rate?
The market size for youth hostels has seen a significant increase in growth in the past few years. The projected growth is from $4.26 billion in 2024 to $4.61 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. The notable growth during the historic period is due to a number of factors. These…
Hostel Market is Booming Worldwide with Latest Rising Trends: Hostelworld Group, …
The Latest Study Published by HTF MI Research on the "Hostel Market'' evaluates market size, trend and forecast to 2029. The Hostel market study includes significant research data and evidences to be a practical resource document for managers and analysts is, industry experts and other key people to have an easily accessible and self-analysed study to help understand market trends, growth drivers, opportunities and upcoming challenges as well as information…
Backpacker Hostel Market Size in 2023 To 2029 | Notting hill, Selina, URBANY HOS …
The Backpacker Hostel research report understands the key stakeholders in the Backpacker Hostel industry and the value of the competitive landscape in the market. It also provides a clear idea about the strategic analysis of mergers, expansions, partnerships, and investments. Moreover, this particular report is a source of information that provides current and forthcoming technical and financial details of the industry up to 2029.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 + 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝…
Backpackers Hostel Chain Business
According to the Tourism Industry Report, the total contribution by India in the world travel and tourism Industry is expected to increase from US$ 196.03 billion in 2019 to US$ 408.21 billion in 2024. As the numbers of international travelers are growing from the United States, Russia, Europe, Japan, and domestic travelers, India will witness new growth in tourist services.
Stats also propose that revenue generated by the tourism industry will…
Hostelling International Supports Sustainable Hostel Operations in NYC
On a very sunny New York City day, my team and I arrived at a historical building located on the corner of 103rd and Amsterdam Avenue on the upper west side of the incredible island of Manhattan. For the first time in the past several years, we were walking into a property that was not a typical hotel to conduct the onsite survey portion of our E2A Program (Energy Efficiency…
