ReportsWeb- The Global Budget Hotels Market to 2020

The Global Budget Hotels Market to 2020
ReportsWeb.com published “Budget Hotels Market” from its database. The report covers the
market landscape and its growth prospects over the coming years. The report also includes a
discussion of the key vendors operating in this market.
The global budget hotel market industry grew in 2015 due to demand for affordable
accommodation, with an increase in the middle-class population in Asia-Pacific and European
regions. The US ranked first in the budget hotels segment with room supply of 874,591 in 2015,
followed by the UK and China, while Malaysia was the fastest-growing market at a CAGR of
12.2%. In terms of occupancy rate, Asian countries led from the front with Hong Kong (87% in
2015) at the top, followed by Japan and Singapore. In terms of RevPAR, Hong Kong (US$117.6 in
2015) topped the list, followed by Egypt and the UK
For more information about this report: http://www.reportsweb.com/The-Global-Budget-
Hotels-Market-to-2020
Key Findings
- The branded domestic budget hotel chains are the driving force for the growth of online hotel
booking sales in India. According to the Google Travel Trends report, with an online market
presence of more than 300 million Indians and just 20% of the total hotel inventory available
online, both new and established branded budget hotel chains such as Lemon Tree and Treebo
Hotels are looking for the opportunity to bring quality budget hotels to the online platform
across the nation. In 2015, brand budget hotel queries' annual growth increased at 179%,
compared to the general queries on the budget hotels, which was just 37%. Overall
accommodation queries grew at 37% annually. Budget hotel queries accounted for 35% of total
accommodation queries
- Louver Hotels, the second largest budget hotel in Europe, allied with China's biggest bank card
provider Union Pay in 2016 to reach the increasing number of Chinese travelers abroad.
Chinese tourists are reluctant to carry cash on French streets due to fears of insecurity. To
overcome this, French hotels are accepting the Chinese Union Pay credit cards to boost tourism
across the country
- The world's second largest population (1.8 billion Muslims) needs to perform the Hajj in
Mecca at least once in their lifespan, driving the demand for accommodation in the holy city.
According to Jones Lang LaSalle (JLL), 75% stay in hotels during the pilgrimage while the