PRN: Global Budget Hotels Market 2014-2018 Research Report

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Global Budget Hotels Market 2014-2018 Research Report

 
[06-November-2014]
 

DALLAS, November 6, 2014 /PRNewswire/ --

The budget hotels market category is set for growth over the forecast period (2014−2018) due to demand for affordable lodging products, with rising middle-class populations in Asia-Pacific and Africa driving demand. Investor interest in this particular category increased as budget hotels proved to be less susceptible than luxury hotels to the global financial crisis. Complete report titled The Global Budget Hotels Market to 2018 is now available with ReportsnReports.com at http://www.reportsnreports.com/reports/314131-the-global-budget-hotels-market-to-2018.html .

Several leading international luxury hotel chains have set up economy brands to focus exclusively on budget hotels category. Marriott International introduced its economy Moxy Hotels brand in Europe in 2013. Accor Hotels has two budget hotel brands: Ibis Budget and hotelF1 (previously Formule 1). Lemon Tree Hotels operates the Red Fox budget brand in India. Local budget and midscale hotel brands are expanding their presence into Tier II and Tier III cities such as Chennai and Surat in India, and Nanjing and Zhenzhou in China. International brands are increasingly marking their presence in these emerging markets, attracted by their lucrative potential. For example, UK-based budget hotel operator Premier Inn is active in India, while InterContinen! tal Hotels Group's Holiday Inn Express and Holiday Inn Hotels & Resorts, and Wyndham Hotel Group's Super 8 are active in China.

The US is the largest global market for budget hotels, with revenues totaling US$12.4 billion in 2013. However, the budget category's share of the hotel industry is low in comparison to developed European economies such as the UK and France, and Latin American economies such as Brazil, Argentina and Peru. In terms of revenue, the category's penetration in the US stood at 7.6% in 2013. The Asia-Pacific's budget hotels category registered strong growth during the review period. The category is becoming more standardized, and levels of consistency in the final product have risen. Branded hotel chains are strong in this area and are able to garner large market shares.

Europe is a key market for budget hotels: Premier Inn, Travelodge, Ibis, hotelF1, Motel One, and easy Hotel all have a presence. Many European economies were adversely affected by the financial and eurozone debt crisis. Consequently, disposable consumer incomes fell, leading to a fall in the number of trips and a rise in demand for cheaper accommodation. This has been a key driver of growth for budget hotels in Europe. Budget hotels in the UAE are registering solid occupancy rates and provided good returns during the review period. Room occupancy rates in the country stood at 72.2% in 2013. Accor's Ibis brand entered the Middle East in 2008 and currently has six properties in the UAE running at an occupancy rate of 80%. According to Christian Karaoglanian, the chief development officer for Accor Hospitality Worldwide, the cost of building a bud! get hotel is 20−25% that of a luxury hotel.

Global Budget Hotel Profiles provided in this market research report include that of Red Roof Inn, Candlewood Suites, HotelF1, Ibis budget hotels, Premier Inn Ltd, Travelodge Hotels Ltd, Roots Corporation Ltd, Home Inns & Hotels Management Inc., Holiday Inn Express Hotel and Econo Lodge Hotels. Order a copy of The Global Budget Hotels Market to 2018 report at http://www.reportsnreports.com/Purchase.aspx?name=314131 .

The report provides detailed market analysis, information and insights, including: Historic and forecast revenues in the global budget hotels market covering 40 countries; Detailed regional analysis of budget hotels' key performance indicators, such as the number of hotel establishments, number of rooms, occupancy rate, room nights available, room nights occupied, average room revenue per available room, average room revenue per occupied room, average total revenue per available room, total room revenues, total non-room revenues, total revenues and number of guests for the review (2009-2013) and forecast (2014-2018) periods. The regions covered are the Americas, Asia-Pacific, Europe, Middle East & Africa; Analysis of the global budget hotels market as well as detailed analysis of trends in key budget hotel markets.

This global budget hotels market report provides an extensive analysis related to the worldwide budget hotel industry, including:

  • Market sizes for 40 countries in the global budget hotels market for 2009-2013, along with forecast figures for 2014-2018
  • Budget hotels' key performance indicators in these countries, with values for both the 2009-2013 review period and the 2014-2018 forecast period

Another research titled The Global Luxury Hotels Market - Key Trends and Opportunities to 2017 is of 158 pages and says that one of the key drivers of this growth was the increasing number of high net worth individuals (HNWIs) globally, primarily in the BRIC countries. This growth in global luxury travel is expected to continue over the forecast period to 2017. Over the forecast period, occupancy-related KPIs are expected to improve as compared to the review period as political issues are resolved. Rises in ADR are expected for most hospitality industries, albeit at varied growth rates. Increases in tourism from emerging markets such as China are expected to increase ADR for popular tourist destinations such as Dubai over the forecast period. Complete report is available at http://www.reportsnreports.com/reports/268289-the-global-luxury-hotels-market-key-trends-and-opportunities-to-2017.html .

Explore more reports on the travel and hospitality industry at http://www.reportsnreports.com/market-research/hospitality/ .

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