Thursday, 18 December 2014

Global Budget Hotels Market: Industry Travel Services News Analysis & Forecast to 2018

Global Budget Hotels Market to 2018 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. -
 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.

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.

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.

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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.

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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