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Global Hostel Market: Size, Trends and Forecasts (2020-2024)

  • ID: 4987860
  • Report
  • February 2020
  • Region: Global
  • 73 Pages
  • Daedal Research
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FEATURED COMPANIES

  • A&O Hotels and Hostels
  • Hostelworld Group
  • Safestay plc
  • MORE

Scope of the Report:

The report titled “Global Hostel Market: Size, Trends and Forecasts (2020-2024)”, 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 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.

Further, key players of the hostel market are Hostelworld Group, Safestay plc, A&O Hotels and Hostels, Hostelling International (HI) are also profiled with their financial information and respective business strategies.

Country Coverage:

  • Western Europe
  • Asia
  • North America
  • Latin America
  • Australia and New Zealand (ANZ)
  • ROW

Company Coverage:

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

Executive Summary:

A hostel can be defined as a budget-friendly type of shared accommodation with a common area. Hostels usually include dorm-style rooms for travelers, but also private guest rooms and hotel-like amenities are nowadays common. Hostels tend to focus on creating a sociable environment and cost much less than a hotel.

Hostels provide various benefits to travelers. A few of them are cheap beds, wireless internet, knowledgeable locals, great locations, meeting other travelers, a relaxed atmosphere, communal spirit, and guest kitchen.

Hostels can be divided into different types, which include cheap hostels, party hostels, activity or adventure hostels, eco-hostels, luxury hostels, family hostels and other types of hostels. And, hostel travelers are broadly categorized into two types: Backpackers and Flashpackers.

The hostel market can be segmented on the basis of booking channels (Online Travel Agencies (OTAs), Offline Intermediaries, Offline Direct and Hostel Websites); and guests (Youth Groups/School Groups, Single Tourists, Families, Couples and Corporate).

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.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • A&O Hotels and Hostels
  • Hostelworld Group
  • Safestay plc
  • MORE

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
7.1 Hostelworld Group
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy
7.2 Safestay plc
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy
7.3 A&O Hotels and Hostels
7.3.1 Business Overview
7.3.2 Business Strategy
7.4 Hostelling International (HI)
7.4.1 Business Overview
7.4.2 Business Strategy

List of Figures:
Figure 1: Benefits of Staying in a Hostel
Figure 2: Types of Hostels
Figure 3: Types of Hostel Travelers
Figure 4: Difference Between a Hostel and Hotel
Figure 5: Hostel Segmentation by Booking Channel
Figure 6: Hostel Segmentation by Guests
Figure 7: Global Hostel Market by Value; 2015-2019 (US$ Billion)
Figure 8: Global Hostel Market by Value; 2020-2024 (US$ Billion)
Figure 9: Global Hostel Market by Volume; 2015-2019 (Thousand)
Figure 10: Global Hostel Market by Volume; 2020-2024 (Thousand)
Figure 11: Global Hostel Market by Booking Channel; 2019 (Percentage, %)
Figure 12: Global Hostel Market by Region; 2019 (Percentage, %)
Figure 13: Global Online Travel Agencies (OTAs) Hostel Market by Value; 2016-2019 (US$ Billion)
Figure 14: Global Online Travel Agencies (OTAs) Hostel Market by Value; 2020-2024 (US$ Billion)
Figure 15: Global Hostel Websites Market by Value; 2016-2019 (US$ Million)
Figure 16: Global Hostel Websites Market by Value; 2020-2024 (US$ Billion)
Figure 17: Global Offline Direct Hostel Market by Value; 2016-2019 (US$ Billion)
Figure 18: Global Offline Direct Hostel Market by Value; 2020-2024 (US$ Million)
Figure 19: Global Offline Intermediaries Hostel Market by Value; 2016-2019 (US$ Million)
Figure 20: Global Offline Intermediaries Hostel Market by Value; 2020-2024 (US$ Million)
Figure 21: Western Europe Hostel Market by Value; 2018-2019 (US$ Billion)
Figure 22: Western Europe Hostel Market by Value; 2020-2024 (US$ Billion)
Figure 23: Asia Hostel Market by Value; 2018-2019 (US$ Billion)
Figure 24: Asia Hostel Market by Value; 2020-2024 (US$ Billion)
Figure 25: North America Hostel Market by Value; 2018-2019 (US$ Million)
Figure 26: North America Hostel Market by Value; 2020-2024 (US$ Million)
Figure 27: Latin America Hostel Market by Value; 2018-2019 (US$ Million)
Figure 28: Latin America Hostel Market by Value; 2020-2024 (US$ Million)
Figure 29: Australia and New Zealand (ANZ) Hostel Market by Value; 2018-2019 (US$ Million)
Figure 30: Australia and New Zealand (ANZ) Hostel Market by Value; 2020-2024 (US$ Million)
Figure 31: ROW Hostel Market by Value; 2018-2019 (US$ Billion)
Figure 32: ROW Hostel Market by Value; 2020-2024 (US$ Billion)
Figure 33: Global Annual Aggregate Income by Generation; 2020-2025 (US$ Trillion)
Figure 34: Global International Tourist Arrivals by Region; 2014-2018 (Million)
Figure 35: Global Middle-Class Population by Region; 2015-2030 (Million)
Figure 36: Global Online Travel Agencies (OTAs) Market; 2018-2023 (US$ Billion)
Figure 37: Global Mobile App Downloads; 2017-2022 (Billion)
Figure 38: The US Discretionary Expenditure by Category; 2000-2030 (Percentage, %)
Figure 39: Global Hostel Market Players by Instagram Followers; 2020 (Thousand)
Figure 40: Hostelworld Group Net Revenue; 2015-2018 (US$ Billion)
Figure 41: Hostelworld Group Net Revenue by Region; 2018 (Percentage, %)
Figure 42: Safestay plc Revenue; 2014-2018 (US$ Million)
Figure 43: Safestay plc Revenue by Segments; 2018 (Percentage, %)
Figure 44: Safestay plc Revenue by Region; 2018 (Percentage, %)
Table 1: Global Hostel Market Players: Key Parameters
Table 2: Europe Hostel Market Players by Rating and Occupancy Rate Comparison; 2018

Note: Product cover images may vary from those shown
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  •  A&O Hotels and Hostels
  •  Hostelling International (HI)
  •  Hostelworld Group
  •  Safestay plc
Note: Product cover images may vary from those shown
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The author's core strengths include a seasoned management team, a highly demonstrable track record of seamless process integration and consistent delivery position. The research team uses its extensive knowledge of the various industries to analyze the market trends from both a vendor and an end-user perspective.

The research strategy is focused on high-quality secondary data combined with elaborate use of primary data. The team of research analysts provides a 360-degree overview of available data.

The analysts begin by searching industry reports, surveys, trade publications, company reports and press releases. They also include information gained by extensive interviews with major players and industry participants.

The background information, related to industry statistics, is provided by the author's proprietary databases.

The information is then analyzed and synthesized into a report - with market forecast, industry trends, and competitive strategies. The team of research analysts use both qualitative tools and quantitative techniques to get an insight into the industry.

The author's core expertise lies in researching, compiling and analyzing vast amounts of publicly available information and premier databases, into widely read reports.

 

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