Budget Hotel Market Growing tremendously in the travel and tourism industry during the forecast period of 2019-2026.
A Hotel is an establishment of building where people pay for room to sleep in and meals. Hotels are classified into several categories according to their facilities, services and amenities which they provide. Hotels In Jaipur is one of the categories among them.Budget hotel is the lowest category of hotel that provides the rooms and meals at cheap cost. Budget hotel offers the facilities which required to fulfilling basic requirements such as daily room service, telephone, television, air conditioning, mineral water, broadband connection, doctor on call, pick & drop facility etc. Some budget hotels also have a multi cuisine room and mini bar.
The budget hotel is the lowest category of hotels that offers cheap rooms and meals. The budget hotel offers facilities that must meet basic requirements every day such as room service, telephone, television, air conditioning, mineral water, broadband connection, doctor call, pick up & drop facilities. Some budget hotels have multi-cuisine rooms and mini-bars. Brand Budget hotels are getting involved in the market as they see the demand for Budget Hotel increases, players are investing in establishing brand positions as cheap hotel providers can grow faster than regular travel aggregators. According to industry estimates, inventory in the budget hotel space is expected to increase for both new and existing customers.
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Top Key Players:
- Red Roof Inn,
- Candlewood Suites,
- Ibis Budget Hotels,
- Premier Inn,
- Travelodge Hotels,
- Home Inns and Hotels Management,
- Holiday Inn Express Hotel,
- Econo Lodge Hotels
The global budget hotel market grew in 2015 due to the demand for affordable accommodation, with an increase in the middle-class population in Asia-Pacific and European regions. The US ranked first in the Budget Hotels segment with room supply of 874,591 in 2015, followed by the UK and China, while Malaysia was the fastest-growing market at a CAGR of 12.2%. In terms of occupancy rate, Asian countries led from the front with Hong Kong (87% in 2015) at the top, followed by Japan and Singapore. In terms of RevPAR, Hong Kong (US$117.6 in 2015) topped the list, followed by Egypt and the UK.
Key questions addressed through this research report:
- What are the global market growth predictions based on the various hypothesis?
- What will be the global market size?
- What are the highest competitors in the global market?
- What are the demanding countries in terms of revenue and consumption?
- What are the drivers and restraints in front of the global market?
- What are the global key players in the market?
- Who are the vendors of the global market?
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Global budget hotels market provides the latest information on the present and the future industry trends, allowing the readers to identify the products and services, hence driving the revenue growth and profitability. The research report provides an in-depth study of all the leading factors influencing the market on a global and regional level, including drivers, restraints, threats, challenges, opportunities, and industry-specific trends.
Report Consultant concluded with, effective, innovative and accurate insights into the global budget hotels market by offering the perfect solution for the global market. Different market segments have been examined carefully to understand the ups-down stages of the businesses.
Table of Content:
Global Budget Hotel Market Research Report 2018-2025
- Market Overview
- Competition Analysis by Players
- Company (Top Players) Profiles
- Budget Hotel Market Size by Type and Application
- US Market Status and Outlook
- EU Development Market Status and Outlook
- Japan Market Development Status and Outlook
- China Market Status and Outlook
- India Budget Hotel Market Status and Outlook
- Southeast Asia Market Status and Outlook
- Market Forecast by Region, Type, and Application
- Market Dynamics
- Market Effect Factor Analysis
- Research Finding/ Conclusion
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