Budget Hotels Market | Contrive Datum Insights

The Global Budget Hotel Market Is Projected To Grow At A CAGR Of 5.5% From 2022 To 2030.

Budget Hotels Market Overview:

A budget hotel is a hotel that offers lower prices than traditional hotels. These hotels may have fewer amenities than traditional hotels, but they offer lower rates for travelers looking to save money. Budget hotels are important because they provide affordable options for budget-conscious travelers. These hotels are conveniently located near the airport and business districts for business travellers.

Budget Hotels market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Budget Hotels market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Major Segments Covered in the Global Budget Hotels Market:

Market Key Players:
All Seasons Hotels, B&B Hotels, Balladins Hotels, Campanile, Comfort, Days INn, dolby hotels, econo lodge, etap, express by holiday inn, formule1, future inns, hotel bannatyne, ibis, innkeeper’s lodge, wetherspoon lodges, sleep inn, super 8, And Others.

Budget Hotels Market by Types:

• Business Hotels, Airport Hotels, Suite Hotels, Serviced Apartments

Budget Hotels Market by Applications:

• Private, Commercial

Budget Hotels Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

The Asia Pacific region dominated the global budget hotel market in terms of revenue, with a share of over 40.0% in 2019. This growth is attributed to the rising number of business travelers in emerging economies such as China and India, thereby driving the demand for budget hotels that offer quality services at affordable prices. Moreover, rapid urbanization and population growth has led to increased demand for affordable housing options in developing countries, which is expected to drive regional growth over the forecast period. Europe accounts for a large share of the global market revenue due to high preference for mid-range accommodation among consumers from countries such as Germany and the United Kingdom.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Growth Factors:

• Rising disposable income of the people, especially in developing countries, is driving the economy hotel market growth.
• The increasing number of business travelers and tourists is also driving the demand for budget hotels across the globe.
• Rapid urbanization and growing popularity of solo travel are some of the other factors driving the growth of this market.
• Affordable rates and convenient locations are some other key factors that attract customers to stay at global economy hotel chains.

Report Scope of Global Budget Hotels Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Frequently Asked Questions-

What is the CAGR of Budget Hotels market?

The Budget Hotels Market is growing at a CAGR of 5.5% During Forecast Period.

 What are the key types and applications of Budget Hotels market?

- Business Hotels, Airport Hotels, Suite Hotels, Serviced Apartments

- Private, Commercial

Who are the key players in Budget Hotels market?

All Seasons Hotels, B&B Hotels, Balladins Hotels, Campanile, Comfort, Days INn, dolby hotels, econo lodge, etap, express by holiday inn, formule1, future inns, hotel bannatyne, ibis, innkeepers lodge, wetherspoon lodges, sleep inn, super 8, And others.

Any special requirements about this report, please let us know and we can provide custom report.

Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.