Economic Slowdown in Europe Fueling the Global Budget Hotels Market

Share Article has announced the addition of the “Global Budget Hotels Market Size, Share, Growth, Trends and Forecast to 2018” report to its offering.

The report presents a detailed analysis of the market, combined with plausible insights and information about various market segments of the global budget hotels market. The report states that in the overall hotel industry, budget hotels have been observing a room occupancy rate of 70-80% in some countries.

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Increasing demand for affordable yet sophisticated lodging, rising occupancy of middle-class population, and rising disposable incomes have resulted in increased demand for budget hotels in Asia-Pacific and Africa. On a global front, the fact that budget hotels are less susceptible to financial crisis compared to luxury hotels is fueling demand.

The report on budget hotels includes market data from 40 countries between the years 2009 and 2013. Through in-depth analysis of this data, the report also brings forth key performance indicators of the global budget hotels market. The report segments the budget hotels market on the basis of performance indicators such as occupancy rate, number of rooms, number of hotel establishments, room nights occupied, average room revenue per available room, room nights available, average room revenue per occupied room, total room revenues, average total revenue per available room, total non-room revenues, number of guests, and total revenues for the review period (2009-2013) and the forecast period of the report (2014-2018). Detailed assessment of regional budget hotels markets of the Americas, Europe, Africa, Asia-Pacific, and the Middle East is contained in the report.

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The study states that the European budget hotels market is the key geographic segment of the global market. Many leading brands operating in the budget hotels business – including Ibis, Premier Inn, Motel One, easy Hotel, hotelF1, and Travelodge – have a strong presence in Europe. Recent instances of economic depression hovering over a number of European countries have led to a consistent fall in consumer disposable incomes and number of out-of-town vacations. This has resulted in a significant rise in demand for economic lodging, making European budget hotels market a key revenue generator for the overall market during the review period.

Despite Europe’s strong hold on the market, the U.S. will continue to remain the largest segment of the global budget hotels market during the review period, with net worth totaling approximately US$12.4 billion in 2013. However, shares of the budget category of the overall hotel industry remained low in the U.S. compared to those in European countries such as France and the U.K., and Latin American countries such as Argentina, Peru, and Brazil.

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The regional budget hotels market of Asia-Pacific registered a strong growth rate during the forecast period. The report states that this regional budget hotels market is becoming increasingly standardized and the level of sophistication is becoming progressively consistent.

Regionally popular midscale and budget hotel brands are expanding their presence in Tier II and Tier III cities of Asia-Pacific such as Zhenzhou and Nanjing in China, and Surat and Chennai in India. International hotel brands are also plodding along the budget hotels’ business line due to significant growth prospects of the market and extremely low investment required for setting up budget hotels as compared to luxury hotels.

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Vacation ownership, also known as timeshare, continues to lead in the hospitality and leisure industry with steady growth, as the large part of the industry's constant innovation developed in response to consumer lifestyle needs and vacation preferences. It is one of the most evolving and profitable sectors in the hospitality market, holding vast growth potential. This sector was once dominated by private developers selling one-week fee intervals, but now includes publicly-traded hospitality companies actively developing a full range of offerings at different price points in resort and urban destinations.

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The key factors driving growth of the global vacation ownership industry include rising number of HNWI and employed population, growing demand for leisure and recreation, increasing internet penetration, ameliorating global economic condition and zealous international tourism in the US. Some of the noteworthy trends and developments of this industry are enhanced buyer’s protection, shifting profitability from hotel stays to timeshare buying, growing popularity for eco-friendly timeshare resorts and fast pace recovery of respective industry in the developed markets after recession. However, the growth of vacation ownership market is hindered by a number of factors including low resale value and stringent government regulations.

The Global Luxury Hotels Market To 2018

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The global luxury hotels market's performance has recovered from the slowdown recorded at the beginning of the historic period (2009-2013) due to the financial crisis and recession. Overall, growth was recorded in the four markets Americas, Asia-Pacific, Europe, Middle East and Africa across all key performance indicators (KPIs) during the historic period. Growth is expected to continue over the forecast period (2014-2018) supported by the rise in tourism flows and expenditure.

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According to the Travel and Tourism Intelligence Center's (Travel and Tourism IC) analysis based on 40 countries around the world, the US was the leader in the luxury hotel market in terms of both revenue and number of establishments. The US recorded revenue of US$43.9 billion in 2013, which is more than double its closest competitor, China, which recorded US$20.6 billion in revenue in 2013. Growth in the Travel and Tourism sector in Asia-Pacific has proved beneficial for the luxury hotel market. Rising middle class population and economic growth have supported the increase in tourist volume and expenditure, consequently leading to rising demand for accommodation. International hoteliers such as InterContinental Hotels, Starwood, Hilton, Marriott, and Accor cater to the luxury segment in the region. Domestic hotel operators mostly focus on the budget and mid-scale segment. In the Middle East and Africa, a large number of deals were recorded in South Africa and the UAE. Political unrest and violence in countries such as Egypt, Tunisia, and Morocco has kept investors away. A total of 13 luxury hotel deals we completed in the UAE during the period between 2010 and 2014 (September) while five were recorded in South Africa during the same period.

Travel And Tourism In The US To 2018

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The US is the largest global market in terms of inbound tourist expenditure, which increased from US$119.3 billion in 2009 to US$170.9 billion in 2013, at a CAGR of 9.39%. Growth has been due to various international campaigns such as the Brand USA campaign and the promotional initiatives undertaken by the US in other countries such as Germany and Canada. Domestic tourism significantly dominates the overall tourism market in the US, representing 96.7% of the total trips in 2013. The number of domestic trips totaled 2.1 billion in 2013 and is projected to reach 2.2 billion in 2018. The growth of domestic tourism was supported by various state-level campaigns launched in 2013 and 2014 such as “Pure Michigan” and “Utah Mighty 5”.

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Domestic tourist expenditure is projected to grow at a CAGR of 5.45% over the forecast period, to reach US$945.4 billion in 2018. The US recorded growth in international arrivals from emerging countries, particularly BRIC countries (Brazil, Russia, India, and China), during the historic period. Visitors from China increased from 880,400 in 2009 to 2.2 million in 2013. Similarly, visitors from Brazil increased from 892,600 in 2009 to 2.1 million in 2013, while visitors from India increased from 550,000 in 2009 to 860,000 in 2013 and visitors from Russia increased from 143,000 in 2009 to 322,000 in 2013.This increase was due to liberal visa procedures by the US and increasing disposable income in these countries.

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