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Budget Hotels Market In-Depth Research On Market Size, Trends, Emerging Growth Factors And Forecast To 2033
Budget Hotels Market Report
As per the report, the budget hotels market size has grown strongly in recent years. It will grow from $270.43 billion in 2023 to $284.83 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The budget hotels market size is expected to see strong growth in the next few years. It will grow to $351.76 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
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What Is Driving The Growth Of The Global Budget Hotels Market?
Rising Travel And Tourism Drives Growth In The Budget Hotels Market
The increasing travel and tourism is expected to propel the growth of the budget hotel market going forward. Travel and tourism refer to the activities of people traveling away from their usual environment for leisure, business, or other purposes, and the industry that supports and facilitates these activities. The demand for travel and tourism is growing due to rising disposable incomes, increased global connectivity, and a growing desire for unique experiences and cultural exploration. Tours and tourism use budget hotels to offer affordable accommodation options for travelers, enhancing accessibility and inclusivity in their travel experiences.
What Is The Key Trend In The Global Budget Hotels Market?
Integrating Technology In Budget Hotels Enhance Customer Service and Operational Efficiency
Major companies operating in the budget hotel market focused on the integration of large language model technology to enhance customer service and optimize operational efficiency. Large language model technology refers to advanced AI systems that understand and generate human-like text based on vast amounts of data.
How Is The Global Budget Hotels Market Segmented?
The budget hotels market covered in this report is segmented -
1) By Type: Business Hotels, Airport Hotels, Suite Hotels, Serviced Apartments, Resorts
2) By Amenities: Free Wi-Fi, Parking, Airport Shuttle, Breakfast
3) By Price Range: Economy, Mid-Range, Luxury
4) By Mode Of Booking: Online Travel Agency, Hotel Websites, Direct Booking, Other Modes Of Booking
5) By Application: Private, Commercial, Government
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How Is The Competitive Landscape Of The Global Budget Hotels Market?
Major companies operating in the budget hotels market are Holiday Inn Express, InterContinental Hotels Group, Whitbread PLC, Choice Hotels International, Extended Stay America Inc., Premier Inn Limited, Travelodge Hotels Ltd , Red Roof Franchising LLC, Oravel Stays Limited, Toyoko Inn Co. Ltd., Econo Lodges of America Inc., B&B HOTELS Group, G6 Hospitality LLC, La Quinta Inns Inc., easyHotel, HotelF1, Future Inns UK Limited , Campanile Ltd , Bannatyne Hotels Limited, IBIS Hotel, Balladins Hotels, Dolby Hotel Liverpool Limited, Days Inns Worldwide Inc.
Contents Of The Global Budget Hotels Market
1. Executive Summary
2. Budget Hotels Market Report Structure
3. Budget Hotels Market Trends And Strategies
4. Budget Hotels Market - Macro Economic Scenario
5. Budget Hotels Market Size And Growth
…..
27. Budget Hotels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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