Travel Accommodation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type, By Price, By Booking, By Region & Competition, 2020-2030F

Description

The Global Travel Accommodation Market was valued at USD 873.76 Billion in 2024 and is projected to reach USD 1405.97 Billion by 2030, growing at a CAGR of 8.31% during the forecast period. Market growth is being driven by increasing business travel stemming from globalization and corporate sector expansion, especially in major urban and emerging markets. Extended stays linked to business trips are boosting demand for professional lodging types such as business hotels and serviced apartments. A resurgence in tourism investment also supports this trend-according to a February 2024 report by the UNWTO and fDi Intelligence, foreign direct investment in tourism projects rose by 23% in 2022, with 352 new projects and approximately 36,400 new jobs created. This rebound reflects a broader recovery in the tourism sector, reinforcing the growth of the global travel accommodation market.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 873.76 Billion
Market Size 2030	USD 1405.97 Billion
CAGR 2025-2030	8.31%
Fastest Growing Segment	Online
Largest Market	North America

Key Market Drivers

Rising Global Tourism and Travel Demand

A major growth driver in the travel accommodation market is the continuous rise in global tourism. Easier and more affordable travel-thanks to enhanced transportation infrastructure, lower airfares, and the proliferation of budget airlines-has made both business and leisure travel more accessible. Emerging economies across Asia, Latin America, and the Middle East are experiencing surging outbound travel, contributing to increased demand for a wide variety of accommodations. Economic indicators also support this trend: in 2024, the global travel and tourism industry contributed USD 11.1 trillion to the world GDP, equivalent to 10% of the total. This marks a 12.1% annual growth and a 7.5% increase over 2019's record. The sector also supported nearly 348 million jobs globally-13.6 million more than pre-pandemic levels-underscoring the expanding role of tourism in economic development and the corresponding need for diverse lodging solutions.

Key Market Challenges

Intense Competition and Market Saturation

The travel accommodation industry is grappling with fierce competition and growing market saturation, particularly in high-traffic tourist destinations. Traditional hotels now compete with a wide array of alternatives such as vacation rentals, hostels, and platforms like Airbnb. This intensified competition leads to price undercutting and shrinking profit margins. Additionally, excessive supply in certain areas results in lower occupancy rates, compelling operators to offer aggressive discounts or incentives. Smaller, independent providers find it increasingly difficult to keep pace with major hotel chains that benefit from global brand recognition, large-scale operations, and advanced digital marketing. Standing out in this crowded space requires continuous innovation, distinctive branding, and investment in superior guest experiences to maintain relevance and profitability.

Key Market Trends

Rise of Sustainable and Eco-Friendly Accommodations

A prominent trend shaping the travel accommodation market is the shift towards sustainability. Environmentally conscious travelers are now seeking lodging options that prioritize green practices, such as using renewable energy, reducing water and plastic use, and incorporating eco-friendly building materials. Properties are responding by adopting sustainable operations and obtaining eco-certifications to enhance their appeal. Beyond meeting guest expectations, these efforts can reduce operational costs and align with increasing regulatory requirements for environmental responsibility. This trend has led to the emergence of eco-resorts, green hotels, and nature-inspired boutique stays that cater to conscious travelers. As sustainability becomes a central value for both consumers and businesses, accommodation providers that embrace eco-innovation are likely to gain a competitive edge.

Key Market Players

Marriott International, Inc.
Radisson Hotel Group
Hilton Worldwide Holdings Inc.
Airbnb, Inc.
Hyatt Hotels Corporation
Four Seasons Hotels and Resorts
InterContinental Hotels Group PLC (IHG)
Accor S.A.
Best Western International, Inc.
Shangri-La Hotels and Resorts

Report Scope:

In this report, the global Travel Accommodation Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Travel Accommodation Market, By Type:

Hotels
Hostels
Resorts
Vacation Rentals
Others

Travel Accommodation Market, By Price:

Economy
Mid-Range
Luxury

Travel Accommodation Market, By Booking:

Direct Booking
Online Travel Agency
Others

Travel Accommodation Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- Germany
- Spain
- Italy
- United Kingdom
Asia-Pacific
- China
- Japan
- India
- Vietnam
- South Korea
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
South America
- Brazil
- Argentina
- Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Travel Accommodation Market.

Available Customizations:

Global Travel Accommodation Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Introduction

1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered

2. Research Methodology

2.1. Methodology Landscape
2.2. Objective of the Study
2.3. Baseline Methodology
2.4. Formulation of the Scope
2.5. Assumptions and Limitations
2.6. Sources of Research
2.7. Approach for the Market Study
2.8. Methodology Followed for Calculation of Market Size & Market Shares
2.9. Forecasting Methodology

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, and Trends

4. Voice of Customer Analysis

4.1. Brand Awareness
4.2. Factor Influencing Purchasing Decision

5. Global Travel Accommodation Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Type (Hotels, Hostels, Resorts, Vacation Rentals, Others)
- 5.2.2. By Price (Economy, Mid-Range, Luxury)
- 5.2.3. By Booking (Direct Booking, Online Travel Agency, Others)
- 5.2.4. By Region
- 5.2.5. By Company (2024)
5.3. Market Map

6. North America Travel Accommodation Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Price
- 6.2.3. By Booking
- 6.2.4. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Travel Accommodation Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Type
    - 6.3.1.2.2. By Price
    - 6.3.1.2.3. By Booking
- 6.3.2. Canada Travel Accommodation Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Type
    - 6.3.2.2.2. By Price
    - 6.3.2.2.3. By Booking
- 6.3.3. Mexico Travel Accommodation Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Type
    - 6.3.3.2.2. By Price
    - 6.3.3.2.3. By Booking

7. Europe Travel Accommodation Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Price
- 7.2.3. By Booking
- 7.2.4. By Country
7.3. Europe: Country Analysis
- 7.3.1. France Travel Accommodation Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Type
    - 7.3.1.2.2. By Price
    - 7.3.1.2.3. By Booking
- 7.3.2. Germany Travel Accommodation Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Type
    - 7.3.2.2.2. By Price
    - 7.3.2.2.3. By Booking
- 7.3.3. Spain Travel Accommodation Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Type
    - 7.3.3.2.2. By Price
    - 7.3.3.2.3. By Booking
- 7.3.4. Italy Travel Accommodation Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Type
    - 7.3.4.2.2. By Price
    - 7.3.4.2.3. By Booking
- 7.3.5. United Kingdom Travel Accommodation Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Type
    - 7.3.5.2.2. By Price
    - 7.3.5.2.3. By Booking

8. Asia-Pacific Travel Accommodation Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Price
- 8.2.3. By Booking
- 8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
- 8.3.1. China Travel Accommodation Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Type
    - 8.3.1.2.2. By Price
    - 8.3.1.2.3. By Booking
- 8.3.2. Japan Travel Accommodation Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Type
    - 8.3.2.2.2. By Price
    - 8.3.2.2.3. By Booking
- 8.3.3. India Travel Accommodation Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Type
    - 8.3.3.2.2. By Price
    - 8.3.3.2.3. By Booking
- 8.3.4. Vietnam Travel Accommodation Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Type
    - 8.3.4.2.2. By Price
    - 8.3.4.2.3. By Booking
- 8.3.5. South Korea Travel Accommodation Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Type
    - 8.3.5.2.2. By Price
    - 8.3.5.2.3. By Booking

9. Middle East & Africa Travel Accommodation Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Price
- 9.2.3. By Booking
- 9.2.4. By Country
9.3. MEA: Country Analysis
- 9.3.1. South Africa Travel Accommodation Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Type
    - 9.3.1.2.2. By Price
    - 9.3.1.2.3. By Booking
- 9.3.2. Saudi Arabia Travel Accommodation Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Type
    - 9.3.2.2.2. By Price
    - 9.3.2.2.3. By Booking
- 9.3.3. UAE Travel Accommodation Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Type
    - 9.3.3.2.2. By Price
    - 9.3.3.2.3. By Booking
- 9.3.4. Turkey Travel Accommodation Market Outlook
  - 9.3.4.1. Market Size & Forecast
    - 9.3.4.1.1. By Value
  - 9.3.4.2. Market Share & Forecast
    - 9.3.4.2.1. By Type
    - 9.3.4.2.2. By Price
    - 9.3.4.2.3. By Booking

10. South America Travel Accommodation Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Price
- 10.2.3. By Booking
- 10.2.4. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Travel Accommodation Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Type
    - 10.3.1.2.2. By Price
    - 10.3.1.2.3. By Booking
- 10.3.2. Argentina Travel Accommodation Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Type
    - 10.3.2.2.2. By Price
    - 10.3.2.2.3. By Booking
- 10.3.3. Colombia Travel Accommodation Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Type
    - 10.3.3.2.2. By Price
    - 10.3.3.2.3. By Booking

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Porters Five Forces Analysis

13.1. Competition in the Industry
13.2. Potential of New Entrants
13.3. Power of Suppliers
13.4. Power of Customers
13.5. Threat of Substitute Products

14. Competitive Landscape

14.1. Company Profiles
- 14.1.1. Marriott International, Inc.
  - 14.1.1.1. Business Overview
  - 14.1.1.2. Company Snapshot
  - 14.1.1.3. Products & Services
  - 14.1.1.4. Financials (As Per Availability)
  - 14.1.1.5. Key Market Focus & Geographical Presence
  - 14.1.1.6. Recent Developments
  - 14.1.1.7. Key Management Personnel
- 14.1.2. Radisson Hotel Group
- 14.1.3. Hilton Worldwide Holdings Inc.
- 14.1.4. Airbnb, Inc.
- 14.1.5. Hyatt Hotels Corporation
- 14.1.6. Four Seasons Hotels and Resorts
- 14.1.7. InterContinental Hotels Group PLC (IHG)
- 14.1.8. Accor S.A.
- 14.1.9. Best Western International, Inc.
- 14.1.10. Shangri-La Hotels and Resorts