Budget Hotels Market By Type, By Guest Type, By Mode of Booking : Global Opportunity Analysis and Industry Forecast, 2023-2032

Description

List of Tables

The global budget hotels market was valued at $276.3 billion in 2022, and is projected to reach $430.9 billion by 2032, growing at a CAGR of 4.1% from 2023 to 2032.The hospitality sector's budget hotel market serves tourists looking for reasonably priced lodging options without sacrificing comfort and convenience. The increased demand from budget-conscious travelers, including tourists, entrepreneurs, and families, has propelled this market's growth throughout the years. Budget hotels appeal to a wide range of demographics and offer a more affordable option of expensive and luxurious lodgings.

Budget hotels are distinguished by their affordable pricing, with the goal of offering a comfortable stay at a portion of the price of higher-end options. While specific features may vary, these accommodations often provide necessities like functional and clean rooms, minimal toiletries, Wi-Fi connectivity, and convenient locations that are frequently close to transportation hubs, tourist destinations, or commercial areas.

The global budget hotels market is analyzed on the basis of type, guest type, mode of booking, and region. By type, the market is divided into limited-service hotels, capsule hotels, hostels, motels, and others. As per guest type, the market is segmented into business travelers, leisure travelers, families, and others. Depending on the mode of booking, it is classified into online travel agency, hotel websites, direct booking, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, Vietnam, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

There are several factors behind the growth of the budget hotel sector. Firstly, the number of potential clients looking for reasonably priced, yet comfortable housing has increased due to improved travel accessibility and an expanding middle-class population. Second, shifting customer preferences favor adventures and discovery over luxurious lodgings, which increases the demand for affordable accommodations.

Numerous hotel chains and independent operators have moved to the budget hotel market in response to this demand, creating fierce rivalry. This has promoted advances in technological integration, innovative marketing strategies, and efficient operations. Customers can now compare prices, read reviews, and make bookings with ease due to online booking systems and mobile apps, which have helped the industry expand.

But there are still challenges in the market for budget hotels. Challenges must be overcome in order to preserve the fine line between quality and cost-cutting strategies. The reputation of a hotel can be damaged by unfavorable reviews and bad customer service in the era of social media. As a result, in order to foster client loyalty and good word-of-mouth, successful budget hotels emphasize providing dependable services.

As a result, the growing market for budget hotels satisfies the needs of tourists who want to travel affordably without compromising on basic amenities. This industry is still developing in response to shifting consumer preferences and technology improvements because of its focus on affordability, necessary facilities, and advantageous locations. The budget hotel market is prepared to innovate and adapt as the tourism industry continues to be dynamic, ensuring its relevance going forward.

The major players operating in the global budget hotels market are G6 Hospitality LLC., Ibis Budget Hotel, OYO Hotels & Homes, easyHotel, Red roof inn & Suites, Super 8, Toyoko Inn, Travelodge, B&B HOTELS Group, and Premier Inn.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the budget hotels market analysis from 2022 to 2032 to identify the prevailing budget hotels market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the budget hotels market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global budget hotels market trends, key players, market segments, application areas, and market growth strategies.

Additional benefits you will get with this purchase are:

Quarterly Update and* (only available with a corporate license, on listed price)
5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
Free Upcoming Version on the Purchase of Five and Enterprise User License.
16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
Free data Pack on the Five and Enterprise User License. (Excel version of the report)
Free Updated report if the report is 6-12 months old or older.
24-hour priority response*
Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)

Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast

Key Market Segments

By Type

Limited Service Hotels
Capsule Hotels
Hostels
Motels
Others

By Guest Type

Business Travelers
Leisure Travelers
Families
Others

By Mode of Booking

Online Travel Agency
Hotel Websites
Direct Booking
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- Thailand
- Vietnam
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

Key Market Players:

easyHotel
Oravel Stays Limited
Travelodge Hotels Ltd.
B&B HOTELS Group
Whitbread PLC
Toyoko Inn Co., Ltd.
Red Roof Inn
G6 Hospitality LLC.
Wyndham Hotels & Resorts, Inc.
ibis Hotel

Product Code: A189974

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Moderate bargaining power of suppliers
- 3.3.2. Moderate threat of new entrants
- 3.3.3. Moderate threat of substitutes
- 3.3.4. Moderate intensity of rivalry
- 3.3.5. Moderate bargaining power of buyers
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. A growing number of budget-conscious travelers
  - 3.4.1.2. Rise of online booking platforms
  - 3.4.1.3. Increasing travel and tourism
- 3.4.2. Restraints
  - 3.4.2.1. Limited amenities
  - 3.4.2.2. Growing concerns for quality services
- 3.4.3. Opportunities
  - 3.4.3.1. Expansion in emerging markets

CHAPTER 4: BUDGET HOTELS MARKET, BY TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Limited Service Hotels
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Capsule Hotels
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Hostels
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. Motels
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
4.6. Others
- 4.6.1. Key market trends, growth factors and opportunities
- 4.6.2. Market size and forecast, by region
- 4.6.3. Market share analysis by country

CHAPTER 5: BUDGET HOTELS MARKET, BY GUEST TYPE

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Business Travelers
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Leisure Travelers
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Families
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Others
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country

CHAPTER 6: BUDGET HOTELS MARKET, BY MODE OF BOOKING

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Online Travel Agency
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Hotel Websites
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
6.4. Direct Booking
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
6.5. Others
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country

CHAPTER 7: BUDGET HOTELS MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Type
- 7.2.3. Market size and forecast, by Guest Type
- 7.2.4. Market size and forecast, by Mode of Booking
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Market size and forecast, by Type
  - 7.2.5.1.2. Market size and forecast, by Guest Type
  - 7.2.5.1.3. Market size and forecast, by Mode of Booking
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Market size and forecast, by Type
  - 7.2.5.2.2. Market size and forecast, by Guest Type
  - 7.2.5.2.3. Market size and forecast, by Mode of Booking
  - 7.2.5.3. Mexico
  - 7.2.5.3.1. Market size and forecast, by Type
  - 7.2.5.3.2. Market size and forecast, by Guest Type
  - 7.2.5.3.3. Market size and forecast, by Mode of Booking
7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Type
- 7.3.3. Market size and forecast, by Guest Type
- 7.3.4. Market size and forecast, by Mode of Booking
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. Germany
  - 7.3.5.1.1. Market size and forecast, by Type
  - 7.3.5.1.2. Market size and forecast, by Guest Type
  - 7.3.5.1.3. Market size and forecast, by Mode of Booking
  - 7.3.5.2. UK
  - 7.3.5.2.1. Market size and forecast, by Type
  - 7.3.5.2.2. Market size and forecast, by Guest Type
  - 7.3.5.2.3. Market size and forecast, by Mode of Booking
  - 7.3.5.3. France
  - 7.3.5.3.1. Market size and forecast, by Type
  - 7.3.5.3.2. Market size and forecast, by Guest Type
  - 7.3.5.3.3. Market size and forecast, by Mode of Booking
  - 7.3.5.4. Italy
  - 7.3.5.4.1. Market size and forecast, by Type
  - 7.3.5.4.2. Market size and forecast, by Guest Type
  - 7.3.5.4.3. Market size and forecast, by Mode of Booking
  - 7.3.5.5. Spain
  - 7.3.5.5.1. Market size and forecast, by Type
  - 7.3.5.5.2. Market size and forecast, by Guest Type
  - 7.3.5.5.3. Market size and forecast, by Mode of Booking
  - 7.3.5.6. Rest of Europe
  - 7.3.5.6.1. Market size and forecast, by Type
  - 7.3.5.6.2. Market size and forecast, by Guest Type
  - 7.3.5.6.3. Market size and forecast, by Mode of Booking
7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Type
- 7.4.3. Market size and forecast, by Guest Type
- 7.4.4. Market size and forecast, by Mode of Booking
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Market size and forecast, by Type
  - 7.4.5.1.2. Market size and forecast, by Guest Type
  - 7.4.5.1.3. Market size and forecast, by Mode of Booking
  - 7.4.5.2. India
  - 7.4.5.2.1. Market size and forecast, by Type
  - 7.4.5.2.2. Market size and forecast, by Guest Type
  - 7.4.5.2.3. Market size and forecast, by Mode of Booking
  - 7.4.5.3. Japan
  - 7.4.5.3.1. Market size and forecast, by Type
  - 7.4.5.3.2. Market size and forecast, by Guest Type
  - 7.4.5.3.3. Market size and forecast, by Mode of Booking
  - 7.4.5.4. Australia
  - 7.4.5.4.1. Market size and forecast, by Type
  - 7.4.5.4.2. Market size and forecast, by Guest Type
  - 7.4.5.4.3. Market size and forecast, by Mode of Booking
  - 7.4.5.5. Thailand
  - 7.4.5.5.1. Market size and forecast, by Type
  - 7.4.5.5.2. Market size and forecast, by Guest Type
  - 7.4.5.5.3. Market size and forecast, by Mode of Booking
  - 7.4.5.6. Vietnam
  - 7.4.5.6.1. Market size and forecast, by Type
  - 7.4.5.6.2. Market size and forecast, by Guest Type
  - 7.4.5.6.3. Market size and forecast, by Mode of Booking
  - 7.4.5.7. Rest of Asia-Pacific
  - 7.4.5.7.1. Market size and forecast, by Type
  - 7.4.5.7.2. Market size and forecast, by Guest Type
  - 7.4.5.7.3. Market size and forecast, by Mode of Booking
7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Type
- 7.5.3. Market size and forecast, by Guest Type
- 7.5.4. Market size and forecast, by Mode of Booking
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Latin America
  - 7.5.5.1.1. Market size and forecast, by Type
  - 7.5.5.1.2. Market size and forecast, by Guest Type
  - 7.5.5.1.3. Market size and forecast, by Mode of Booking
  - 7.5.5.2. Middle East
  - 7.5.5.2.1. Market size and forecast, by Type
  - 7.5.5.2.2. Market size and forecast, by Guest Type
  - 7.5.5.2.3. Market size and forecast, by Mode of Booking
  - 7.5.5.3. Africa
  - 7.5.5.3.1. Market size and forecast, by Type
  - 7.5.5.3.2. Market size and forecast, by Guest Type
  - 7.5.5.3.3. Market size and forecast, by Mode of Booking

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022

CHAPTER 9: COMPANY PROFILES

9.1. B&B HOTELS Group
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
9.2. easyHotel
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Key strategic moves and developments
9.3. ibis Hotel
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Key strategic moves and developments
9.4. G6 Hospitality LLC.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Key strategic moves and developments
9.5. Oravel Stays Limited
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
9.6. Whitbread PLC
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
9.7. Red Roof Inn
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
9.8. Wyndham Hotels & Resorts, Inc.
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
9.9. Travelodge Hotels Ltd.
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
9.10. Toyoko Inn Co., Ltd.
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio