hostel
Digital Dominates Amid Hostels’ Ascent
Douglas Quinby | May 4, 2018
By Douglas Quinby The broader travel industry may bucket hostels into "alternative accommodations," yet this often-overlooked sector is showing higher online penetration than the hotel or vacation rental categories. Younger travelers (18-34) comprise the largest share of hostel guests, and these digital natives have fueled rapid adoption of online and mobile hostel booking. The US$5.5 billion global hostel market in 2017 will grow to nearly $6.4 billion in 2020. Over the same time period, the online hostel market will grow 7-11% annually, rising from $3.5 billion to $4.6 billion. More than 70% of revenue will be booked online,...
Hostel Sector Set to Grow Across Europe as Sharing Economy Takes Hold, Says HVS
HVS | November 23, 2015
23 November 2015, London: The global growth of the budget and hostel sectors, including the fast-emerging commercialised private rental market such as Airbnb, is set to continue as the consumer increasingly values experience over formality and is highly influenced by social media in the choices they make. According to a new report on the limited service and hybrid hotel sector by HVS, the biggest users of budget accommodation are accustomed to booking through their smart phones, either direct or through online travel agents. This sector is starting to shape part of a 'sharing economy' whereby consumers value 'access to' rather than 'own...
Hostel Sector Set to Thrive as Demand Grows for Low Cost Beds Outlines HVS Report
HVS | November 21, 2014
21 November 2014, London: The hostel and limited service hotel sector is becoming one of the most dynamic hospitality investment sectors, with its adaptability and cost effectiveness along with intense competition from both group and independent operators contributing to rapid expansion. A new report published this week by global hotel consultancy HVS, outlines how the cost of hotel accommodation in major visitor locations is keeping the hostel and limited service concept at the forefront of the property market. In addition, flexibility of design and ease with which small businesses can be set up mean that the sector is now providing a ...
