About Budget Hotels
Budget hotels are affordable budget hotels. Cost of hotel is low so and it provides clean accommodations however, it is the bare minimums. Budget hotels are useful for middle class family, students and others. It will provide hotels facility with low budget. Increase demand of tourism industry will help to fuel Demand of global budget hotel market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 11.8% |
Competition among existing players is due to the Budget Hotels market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Budget Hotels Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Budget Hotels 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.
B&B Hotels (France), Balladins Hotels (France), Campanile (United States), Comfort (United States), Days Inn (United Kingdom), Econo Lodge (United States), Etap (Poland), Express By Holiday Inn (United States), Formule1 (France) and Hotel Bannatyne (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ibis (France), Innkeepers Lodge (United States), Wetherspoon Lodges (United Kingdom), Sleep Inn (United States) and Super 8 (United States).
Segmentation Overview
AMA Research has segmented the market of Global Budget Hotels market by Type (Business Hotel, Suite Hotel, Airport Hotel and Resorts Hotel), Application (Travel, Business and Others) and Region.
On the basis of geography, the market of Budget Hotels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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 Booking Type, the sub-segment i.e. Online will boost the Budget Hotels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Popularity of Branded Domestic Budget Hotel and Adoption of Online Hotels Booking facility
Market Growth Drivers:
Rising Demand Due to Affordable Accommodation, Growing Middle-Class Population and Upsurging Demand in Tourism Industry
Restraints:
Lack of Qualitative Amenities Due to Low Cost and Location May Not Be in Prime Place
Opportunities:
Government Initiative Support Tourism Industry
Market Leaders and their expansionary development strategies
In July 2021, Suba Group has acquired a controlling stake in the leisure budget hospitality chain, 1589 Hotels. The development highlights the consolidation taking place in the budget segment where Suba has acquired 35 hotel properties across 1589 Hotels’s sub-brands GenX, RNB, and RNB Select. The acquired properties will become a part of Suba’s budget hotel brand Click Hotels
In February 2018, The B&B Hotels Group has announced that they acquired 7 hotels in the H2 HOTELES chain and it has already hold 29 new establishment in Spain which represent more than 2,700 rooms.
Key Target Audience
Budget Hotel Service Distributor, Tourism Industry, Hoteling Industry, Government Regulatory Bodies, Government and Private Research Organizations and Others
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.