Global Hostel Industry to 2025 – Rising Millennial Spending Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The Report “Global Hostels Market: Size and Forecast with Impact Analysis of COVID-19 (2021-2025 Edition)” has been added to from ResearchAndMarkets.com offer.

This report provides an in-depth analysis of the global hostel market by value, volume, by booking channel, by region, etc. The report also provides detailed regional analysis of the hostels market, including the following regions: Western Europe, Asia, North America, Latin America, Australia and New Zealand (ANZ), and ROW.

The report also assesses key market opportunities and outlines the factors that are and will be driving the growth of the industry. The growth of the global global hostel market has also been forecast over the period 2021-2025, considering previous growth patterns, growth drivers, and current and future trends.

The global hostel market is highly fragmented with numerous market players operating across the globe. Some players in the hostel market operate locally while other players operate regionally and globally. Many local and regional hostel operators offer high quality accommodation for guests of all ages.

Company coverage

  • Hostelworld Group

  • Safestay plc

  • A&O Hotels and Inns

  • Hostelling International (HI)

The hostel market can be segmented on the basis of booking channel (online travel agencies (OTAs), offline intermediaries, direct offline websites and hostels); and guests (youth groups/school groups, single tourists, families, couples and companies).

The global hostel market is growing at a significant CAGR during the years 2016-2019 and projections are made that the market will grow hugely over the next four years, i.e., 2021-2025. 2020 has been a headwind for market growth due to COVID-19 induced lockdowns.

The hostel market is expected to grow due to increased spending by millennials, rising interest in travel, growing middle class population, growing role of travel agencies in online (OTA), growing popularity of solo travel, increased investment in the hostel industry, and more. the market is facing some challenges such as overcrowding in hostels, misconceptions about hostels, rise of budget and mid-range hotels, etc.

Main topics covered:

1. Summary

2. Presentation

2.1 Hostel: an overview

2.1.1 Benefits of staying in a hostel

2.1.2 Types of hostels

2.1.3 Types of hostel travelers

2.1.4 Difference between hostel and hotel

2.2 Hostel segmentation: an overview

2.2.1 Segmentation of hostels by booking channel

2.2.2 Hostels Segmentation by Customers

3. Global Market Analysis

3.1 Global Hostel Market: An Analysis

3.1.1 Global Youth Hostels Market by Value

3.1.2 Global Hostels Market by Volume

3.1.3 Global Hostels Market by Booking Channel (Online Travel Agencies (OTAs), Hostel Websites, Direct and Offline Intermediaries)

3.1.4 Global Hostels Market by Region (Western Europe, Asia, North America, Latin America, Australia & New Zealand (ANZ) and ROW)

3.2 Global Hostel Market: Booking Channel Analysis

3.2.1 Global Online Travel Agency (OTA) Hostels Market by Value

3.2.2 Global Hostel Website Market by Value

3.2.3 Global Offline Direct Hostels Market by Value

3.2.4 Global Offline Mid-market Hostels Market by Value

4. Regional Market Analysis

4.1 Western Europe Hostel Market: An Analysis

4.1.1 Western Europe Hostels Market by Value

4.2 Asia Hostels Market: An Analysis

4.2.1 Asia Hostels Market by Value

4.3 North America Hostel Market: An Analysis

4.3.1 North America Hotel Market by Value

4.4 Latin America Hostel Market: An Analysis

4.4.1 Latin America Hostels Market by Value

4.5 Australia and New Zealand (ANZ) Hostels Market: An Analysis

4.5.1 Australia & New Zealand (ANZ) Hostels Market by Value

4.6 ROW Hostels Market: An Analysis

4.6.1 ROW Hostels Market by Value

5. Impact of COVID-19

5.1 Global Youth Hostels Market Impact

5.1.1 Changing consumer behavior and expectations

5.1.2 Impact on the European hostel market

6. Market dynamics

6.1 Engine of growth

6.1.1 Millennial Spending Rising

6.1.2 Growing interest in travel

6.1.3 Growing Middle Class Population

6.1.4 Growing Role of Online Travel Agencies (OTAs)

6.1.5 Growing Popularity of Solo Travel

6.1.6 Increasing Investment in Hospitality Industry

6.2 Challenges

6.2.1 Overcrowding in hostels

6.2.2 Misconceptions about hostels

6.2.3 Rise of budget and midscale hotels

6.3 Market trends

6.3.1 Growing interest in sustainable travel

6.3.2 Growing number of mobile bookings

6.3.3 Evolution of consumer preferences towards shared experiences

6.3.4 Growing Demand for Luxury Inns

6.3.5 Growing importance of social interaction for travelers

6.3.6 Introduction of hybrid hostels

7. Competitive landscape

7.1 Global Hostels Market by Total Properties

7.2 Global Youth Hostels Market Players: Key Parameters

7.3 Global Hostels Market Players by Instagram Followers

8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/n8wtag

Linda G. Ibarra