In-Depth Exploration of the Alternative Accommodation Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global Alternative Accommodation Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global Alternative Accommodation Market is valued approximately USD 127.28 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.50% over the forecast period 2022-2028.
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The worldwide market is primarily driven by the continually expanding international tourism industry, consumer preferences for inexpensive and pleasant holiday accommodations such as flats, homestays, and cottages, and increased expenditure on leisure and business travel. Given the emergence of internet travel booking agencies and the global expansion of the hotel business, alternative lodgings are anticipated to continue to disrupt the hotel sector. Furthermore, prominent industry players are continually focused on various business methods to attract clients and provide superior services. This has given important players the ability to broaden their worldwide influence, which has aided the global industry’s growth. Trivago, one of the major companies, launched Trivago Weekend in April 2021 to help people in the United States and the United Kingdom find weekend vacations near their homes. Trivago Weekend will assist tourists in finding specific savings on lodging and will introduce them to staycations near their homes. Airbnb announced a partnership with The International Olympic Committee (IOC) in November 2021 to assist the Olympic Movement until 2028. With this collaboration, Airbnb hopes to provide rooms that will help cut expenses for Olympic stakeholders and organizers while also assisting local hosts and communities in generating direct money.
Airbnb teamed with Visit North Carolina in April 2022 to promote travel to 16 rural counties, with a focus on unique accommodations, pleasant experiences, and local attractions. This strategic plan aims to aid in the regional post-pandemic rehabilitation of restaurants, employees, and many distinctive local businesses that rely on the local tourism economy. Hotel chains may create additional revenue from alternative lodgings, allowing them to attract millennials searching for unique, one-of-a-kind, and highly personalized holiday experiences. Furthermore, the sector is predicted to undergo significant technical breakthroughs, and technology will be critical in carving out a competitive advantage while providing an efficient and optimal guest experience during the projection period. The high cost of Alternative Accommodation, on the other hand, stifles market expansion over the projection period of 2022-2028.
The key regions considered for the Global Alternative Accommodation Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America led the worldwide market as a result of the region’s developing glamping trend and rising spending on reserving lodging in houses and condominiums. Furthermore, rising tourist activities in North America as a result of destination attractiveness, followed by the construction of technologically superior infrastructure, have contributed significantly to the expansion. The Asia Pacific region is predicted to have the greatest CAGR. The increase is mostly due to growing consumer spending on staycations and vacation. The region’s growing reliance on the hotel and lodging business, as well as expanding government investments in the creation of sophisticated infrastructure to attract new visitors, are likely to contribute positively to market growth.
Major market player included in this report are:
- holidu.co.uk
- Trivago
- Airbnb, Inc.
- Booking.com
- VRBO (Expedia Group)
- MakeMyTrip Limited
- Wyndham Destinations Inc.
- HomeToGo
- Peakah
- Trip.com Group Limited
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Accommodation Type:
Home
Apartments/Condominium
Alternative Accommodation & Camping
Hostel
Others
Booking Mode:
Online/Platform-based
Offline
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Alternative Accommodation market, including:
- What can be expected for the Alternative Accommodation market in the next decade?
- What are the primary drivers of growth in the global Alternative Accommodation market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Alternative Accommodation market vary based on the size of the end market?
- What is the breakdown of Alternative Accommodation by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Alternative Accommodation market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Alternative Accommodation Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Alternative Accommodation Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Alternative Accommodation Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Alternative Accommodation Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Alternative Accommodation Market.
Our Alternative Accommodation Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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