The Number of rooms nights occupied in Budget hotels in Europe, attained a value of 146.96 million in 2021
The indicator recorded a historical decline CAGR of 24% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
The hotels & motels industry consists of establishments that provide paid lodging and full guest services, typically with a continuous staff presence. In the case of motels, this includes off-street parking facilities, but not necessarily meal services. The industry is detailed in both value and volume terms. Industry value consists of the total revenue generated by (a) rent that a guest pays for an occupied room and (b) other revenues, including revenue from food and beverages, telecommunications, health and leisure operations, and car rentals. Industry volume consists of the number of establishments in a given country that provides paid lodging and full guest services.
Impact of COVID-19 on hotels and motels in Europe
The European hotels and motels industry experienced very strong in 2018 and 2019, before declining the following two years. The industry is expected to achieve very strong growth until 2023, with healthy rates expected over the remainder of the forecast period. Europe is the world’s largest tourist region; it was responsible for a significant percentage of global international arrivals. Southern and Mediterranean Europe led growth, with demand for hotels showing the most significant increase in these regions. In Italy, the region’s largest industry, a hike in accommodation prices boosted hotel operators’ revenues. Notably, luxury and upscale hotels registered significant growth in terms of the number of guests in comparison other hotel classes during the historic period.
Who are the leading players?
The leading player in the European hotels and motels industry is AccorHotels, with a number of branded hotels operating across all segments: budget, midscale, upscale, and luxury. Accor has many establishments in operation across Europe. The company’s brands include ibis, Novotel, Mercure, Mantis, and Raffles. Best Western Hotels and Resorts is a leading player in the European industry, with numbers of establishments in operation across the region. The company operates a variety of brands ranging from budget to upscale, including SureStay, Vib, Glo, and Best Western Premier.
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