About Online Accommodation Booking
Online accommodation booking enables potential guests to self-book and pay via website and other channels, while also providing the best tools to run and scale operations in one location. Reservation technology (res-tech) has progressed to the point where it serves as a central hub for managing all aspects of business, from marketing to distribution to operations. Online accommodation booking are a popular way to reserve hotel rooms. Travelers can book rooms on a computer using online security to protect their privacy and financial information, as well as several online travel agencies to compare prices and amenities at various hotels, villas, cottages and lodge. Prior to the Internet, travellers could make a reservation by writing, calling the hotel directly, or using a travel agent. Online travel agencies now have images of hotels and rooms, information on prices and deals, and even information on nearby resorts. Many also allow travellers' reviews to be recorded with the online travel agent. Last-minute travel arrangements can also benefit from online accommodation booking. If some rooms remain available, hotels may reduce the price of a room.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Online Accommodation Booking is increasing. The industry is segmented, but it is predicted to grow as rise in online travel agency and increasing international and domestic travel, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Online Accommodation Booking market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Trivago N.V. (Germany), Airbnb (United States), Expedia Group (United States), Goibibo (India), Agoda (Singapore), HotelsCombined (Australia), Oyo Rooms (India), Booking.com B.V. (Netherlands), Hotels.com (United States), Priceline.com (United States), KAYAK (United States) and TripAdvisor (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Treebo Hotels (India), MiStay (India), Dayuse (France) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Online Accommodation Booking market by Type (Hotels, Guest houses and home-stays, Villas, Cottages, Log cabins, Hostel and Others), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Online Accommodation Booking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Destination, the sub-segment i.e. International will boost the Online Accommodation Booking market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Age Group, the sub-segment i.e. 21-30 will boost the Online Accommodation Booking market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Development of Voice-Activated Virtual Assistants and Rise in Prevalence of Self-Check-In Service Through Kiosks
Market Growth Drivers:
Increased Demand for Online Booking due to Mobile Apps and Emergence of No Commission Platforms in Accommodation Industry
Challenges:
Increase in Incidence of Failed Transactions and Rising Concern about Data Hacking
Restraints:
Lack of Trust on Online Booking and COVID19 has hampered the Accommodation Industry Growth
Opportunities:
Increase in Number of International or Domestic Travel
Market Leaders and their expansionary development strategies
In March 2019 Airbnb had announced the acquisition of HotelTonight. This acquisition enables Airbnb continue providing guests with an incredible last-minute travel experience that offers new, memorable accommodation on every trip, on any schedule, at any time. Together, HotelTonight and Airbnb can provide tourists with more alternatives while also offering the world's best boutique and independent hotels with an authentic partner to connect them with those guests.
In December 2023, Leading digital travel platform Booking.com has partnered with the World Tourism Organization (UNWTO) of the United Nations to launch a new series of free online courses designed to support accommodations on their journey to operate more sustainably.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.