The Tourism employment in Accommodation segment in Germany, registered a value of USD 36,620.11 million in 2021
The indicator recorded a historical growth (CAGR) of 3.71% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Tourism employment in the Accommodation segment in Germany experienced significant growth in 2021.
Travel intermediation for this report is defined as a total direct expenditure (online and in-store) via travel intermediaries by inbound, domestic, and outbound tourists within a single economy.
Accommodation only includes the total revenue generated by intermediaries exclusively through accommodation bookings.
Market segmentation for accommodation segment in Germany
The market can be separated into segments such as accommodation, airlines, car rentals, etc. This is because travel intermediaries are not only used for travel packages, but for accommodation, renting cars for your chosen destination, and most importantly for picking the best or cheapest airfares. There is room for large and small players in the accommodation segment. The accommodation segment offers opportunities for both large multinational chains and small, independent businesses. The types of establishments operated by these two types of players differ greatly. Large global chains such as Hilton and Marriott typically operate large-scale hotels in tourist hotspots. These hotels are usually full service, offering accommodation and food, as well as additional services such as laundry and transport.
However, the sharing economy has severely disrupted the accommodation segment, allowing consumers to effectively backward integrate into the hotel operators’ space. Much has been said of the so-called sharing economy and the impact it has had on the traditional modes of operation in several industries. Uber has been in the news a great deal, but the extent to which the likes of Airbnb and FlipKey have disrupted the accommodation segment can hardly be overstated. Airbnb listings of available accommodation worldwide are greater than those of the five largest hotel brands combined.
The leading player in the accommodation segment in Germany: Booking Holdings Inc.
Booking Holdings Inc. is one of the largest travel intermediary firms in Germany. The company is based in Norwalk, Connecticut, the US, and is a provider of online travel and related services. It offers accommodation reservation services, rental car reservation services, price comparison services, restaurant reservations, airline ticket booking services, vacation packages, cruise booking services, and travel reservation services. It operates its business under brands such as Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com, and OpenTable. The company operates in several countries across Europe, North America, South America, Africa, and the Asia-Pacific region.
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