Outlook on the Global Hostel Market to 2024 - Greater Spending by Millennials is a Driver

DUBLIN, Feb. 21, 2020 /PRNewswire/ -- The "Global Hostel Market: Size, Trends and Forecasts (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

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

Furthermore, the report assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global hostel market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global hostel market has increased at a significant CAGR during the years 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The hostel market is expected to increase due to greater spending by millennials, the growing interest for travel, rising middle-class population, increasing the role of online travel agencies (OTAs), escalating popularity of solo travel, increasing investments in the hostel industry, etc. Yet the market faces some challenges such as overcrowding in hostels, misconceptions about hostels, the rise of budget and midscale hotels, etc.

The global hostel market is highly fragmented with many market players operating worldwide. Some hostel market players operate on a local level while other players operate on a regional and global level. Many local and regional hostel operators provide high-quality accommodation for guests of all ages.

Company Coverage:

• Hostelworld Group
• Safestay plc
• A&O Hotels and Hostels
• Hostelling International (HI)
  

Key Topics Covered:

1. Executive Summary

2. Introduction
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 a Hostel and Hotel
2.2 Hostel Segmentation: An Overview
2.2.1 Hostel Segmentation by Booking Channel
2.2.2 Hostel Segmentation by Guests

3. Global Market Analysis
3.1 Global Hostel Market: An Analysis
3.1.1 Global Hostel Market by Value
3.1.2 Global Hostel Market by Volume
3.1.3 Global Hostel Market by Booking Channel (Online Travel Agencies (OTAs), Hostel Websites, Offline Direct and Offline Intermediaries)
3.1.4 Global Hostel Market by Region (Western Europe, Asia, North America, Latin America, Australia and New Zealand (ANZ) and ROW)
3.2 Global Hostel Market: Booking Channel Analysis
3.2.1 Global Online Travel Agencies (OTAs) Hostel Market by Value
3.2.2 Global Hostel Websites Market by Value
3.2.3 Global Offline Direct Hostel Market by Value
3.2.4 Global Offline Intermediaries Hostel Market by Value

4. Regional Market Analysis
4.1 Western Europe Hostel Market: An Analysis
4.1.1 Western Europe Hostel Market by Value
4.2 Asia Hostel Market: An Analysis
4.2.1 Asia Hostel Market by Value
4.3 North America Hostel Market: An Analysis
4.3.1 North America Hostel Market by Value
4.4 Latin America Hostel Market: An Analysis
4.4.1 Latin America Hostel Market by Value
4.5 Australia and New Zealand (ANZ) Hostel Market: An Analysis
4.5.1 Australia and New Zealand (ANZ) Hostel Market by Value
4.6 ROW Hostel Market: An Analysis
4.6.1 ROW Hostel Market by Value

5. Market Dynamics
5.1 Growth Driver
5.1.1 Greater Spending by Millennials
5.1.2 Growing Interest for Travel
5.1.3 Rising Middle-Class Population
5.1.4 Increasing Role of Online Travel Agencies (OTAs)
5.1.5 Escalating Popularity of Solo Travel
5.1.6 Increasing Investments in the Hostel Industry
5.2 Challenges
5.2.1 Overcrowding in Hostels
5.2.2 Misconceptions About Hostels
5.2.3 Rise of Budget and Midscale Hotels
5.3 Market Trends
5.3.1 Growing Number of Mobile Bookings
5.3.2 Shift in Consumer Preferences towards Shared Experiences
5.3.3 Rising Demand for Luxury Hostels
5.3.4 Increasing Importance of Social Interaction for Travelers
5.3.5 Introduction of Hybrid Hostels

6. Competitive Landscape
6.1 Global Hostel Market Players: Key Parameters
6.2 Global Hostel Market Players by Instagram Followers
6.3 Europe Hostel Market Players by Rating and Occupancy Rate Comparison

7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/5jkvnb

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