Budget Hotels Market Trends and Analysis by Region, Deals and Competitive Landscape

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Budget Hotels Market Report Overview

The budget hotels market was valued at $95.92 billion in 2022. The decrease in COVID travel restrictions has led to a growing number of budget-conscious travelers, the rise of online booking platforms, and increasing travel and tourism, which became the major contributors to the growth of budget hotel revenue during 2022.

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The budget hotels market research report provides an in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the budget accommodation market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the market’s leading players and looks at how companies can better meet their customers’ needs.

Market Size (2022) $95.92 Billion
Key Trends ·        Technology-Driven Services

·        Focus on Sustainability

·        Rise in Usage Of AI

Key Regions ·        The Americas

·        Africa

·        APAC

·        Europe

·        The Middle East

Key Countries ·        The US

·        The UK

·        Japan

·        Italy

·        China

·        France

Key Companies ·        Red Roof Inn

·        HotelF1

·        Premier Inn

·        Ibis budget

·        Travelodge Hotels Ltd

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Budget Hotels Market Trends

Technology-driven services, a focus on sustainability, and a rise in usage of AI among others are some of the key trends impacting the budget hotels market. For instance, the decrease in complexity and the sudden increase in contactless payments are two of the major tech trends in hospitality. Customers save time when contactless payments are accepted because they don’t have to look for cash. With the advent of technologies like Apple Pay and Google Pay, carrying a wallet is no longer necessary. In addition to decreasing complexity and improving customer happiness, the coronavirus pandemic has increased demand for contactless payment options.

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Budget Hotels Market Segmentation by Region

The key regions analyzed in the budget hotels market report are the Americas, Africa, APAC, Europe, and the Middle East. The major countries in the Americas are the US, Colombia, Brazil, Argentina, and Mexico. The US had the highest number of hotel establishments and budget hotels in 2022. The Americas Budget Hotel revenue performance reached its pre-pandemic level in 2022. The increase in demand and technology integration is expected to be a growth opportunity for budget hotels to take up the rates, which will help to improve their profitability.

The top countries in the budget hotels market are the US, the UK, Japan, Italy, China, and France among others. In 2022, the US has stood in the first position in global budget hotel revenue and is expected to remain the prime market in 2027.

Top Global Countries: Total Revenue, Budget Hotels, 2022 (%)

Top Global Countries: Total Revenue, Budget Hotels, 2022 (%)

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Budget Hotels Market - Competitive Landscape

Some of the major budget hotel companies are Red Roof Inn, HotelF1, Premier Inn, Ibis Budget, and Travelodge Hotels Ltd.

Red Roof Inn: It operates a chain of economy hotels and motels in the United States. The company offers services such as accommodation, rooms and suites, reservations and cancellations, check-in and check-out, airport shuttle, and laundry services. It also offers meeting facilities, a swimming pool, a business center, in-room communication, restaurants, franchising services, and others. Red Roof offers private dining rooms for weddings, business meetings, and private events. The company also operates premium rooms with NextGen facilities under the Red Roof Plus+ brand, which provides a complimentary welcome snack box containing bottled water, popcorn, orange juice, trail mix, and granola bars. It owns and operates hotels located in Columbus, Cookeville, Kentland, San Diego, Houston, Amarillo, Denver, Palmdale Newport, and Akron, the US. Red Roof is headquartered in Springfield, Ohio, the US.

Leading Budget Hotels Companies

Leading Budget Hotels Companies

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Budget Hotels Market Segments

Budget Hotels Regional Outlook (Value, $Billion, 2022-2027)

  • The Americas
  • Africa
  • APAC
  • Europe
  • The Middle East

Budget Hotels Regional Outlook (Value, $Billion, 2022-2027)

  • The US
  • The UK
  • Japan
  • Italy
  • China
  • France

Scope

GlobalData’s Budget Hotels Market report provides an in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the budget accommodation market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the market’s leading players and looks at how companies can better meet their customers’ needs.

Reasons to Buy

  • Understand the impact of COVID-19 on this market
  • Gauge which are the biggest and most promising regional markets for the budget accommodation market
  • Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
  • Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.

Red Roof Inn
HotelF1
ibis budget
Premier Inn
Travelodge Hotels Ltd
Roots Corporation Ltd
La Quinta Inns & Suites
Holiday Inn Express
Extended Stay America Inc

Table of Contents

Snapshot

Key Trends

Deals

Key Insights

Outlook

Company Profiles

Appendix

Figures

List of Figures

Figure 1: Top 10 global markets: total revenue, budget hotels in 2021 ($B)

Figure 2: Top 10 global markets: total revenue, budget hotels in 2021 ($B)

Figure 3: Top five American markets: number of rooms, budget hotels (thousand)

Figure 4: Top five American markets: occupancy rate, budget hotels (%)

Figure 5: Top five Asia-Pacific markets: number of rooms, budget hotels (thousand)

Figure 6: Top five Asia-Pacific markets: occupancy rate, budget hotels (%)

Figure 7: Top five Europe markets: number of rooms, budget hotels (thousand)

Figure 8: Top five Europe markets: occupancy rate, budget hotels (%)

Figure 9: Top five Middle East & Africa markets: number of rooms, budget hotels (thousand)

Figure 10: Top five Middle East & Africa: occupancy rate, budget hotels (%)

Figure 11: Top 10 global markets: total revenue, budget hotels, 2021 versus 2025 ($B)

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