Global Hostels Market Trends, Strategies, And Opportunities In The Hostels Market 2021-2030

Hostels Market Report 2021: COVID-19 Growth And Change

Hostels Global Market Report 2021: COVID-19 Growth And Change

The Business Research Company’s Hostels Global Market Report 2021: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, October 5, 2021 / — According to the new market research report ‘Hostels Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company, the hostels market size is expected grow from $4.37 billion in 2020 to $5.2 billion in 2021 at a compound annual growth rate (CAGR) of 19%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5.99 billion in 2025 at a CAGR of 4%. The increased spending by millennials (aged 18-35) to travel is a key factor driving the growth of the hostels market.

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The hostels market consists of sales of hostels and related services. A hostel can be described as a kind of budget-friendly shared accommodation that has a common area. Hostels typically have dorm-style rooms for travelers, but private rooms and hotel-like facilities are also available nowadays. Hostels prefer to concentrate on building a sociable atmosphere and are much less costly than a hotel.

Trends In The Global Hostels Market
The introduction of hybrid hostels is a key trend in the hostels market. To satisfy young urban professional travelers, hybrid hostels combine the affordability and sociability of dorm-accommodation with the upscale facilities of traditional hotels. For instance, Stay Hybrid Hostel is centrally located in Thessaloniki, near the Ladadika and Valaoritou areas. Every room at Stay Hybrid Hostel is air-conditioned, with exclusive music references. They offer personal rooms with personal facilities, tables for beds, a small desk, a wardrobe and a flat-screen TV.

Global Hostels Market Segments:
The global hostels market is further segmented based on type, price point, mode of booking and geography.
By Type: Students, Workers, Others
By Price Point: Economy, Mid-Range, Luxury
By Mode of Booking: Online Bookings, Direct Bookings, Others
By Geography: The global hostels market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Hostels Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hostels global market overviews, analyzes and forecasts market size and growth for the global hostels market, hostels global market share, hostels market players, hostels market segments and geographies, hostels market’s leading competitors’ revenues, profiles and market shares. The hostels market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Read Hostels Global Market Report 2021 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Hostels Market Organizations Covered: Hostelworld, Hostelling International, Green Tortoise Hostel, London Backpackers, Newquay Backpackers, Canada Hostels, WOKSEN, Cloudbeds, A&O Hotels and Hostels, OPERA Property Management System (PMS), Hotelogix PMS, Maestro PMS, MSI CloudPM, Frontdesk Anywhere, Rezlynx PMS, RoomMaster, Safestay plc, eZee Frontdesk.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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