Global Travel Accommodation Market Analysis – 2023-2033

According to the Market Statsville Group (MSG), the Global Travel Accommodation Market size is estimated to grow from USD 689.6 billion in 2023 to USD 2,184.05 billion by 2033, at a CAGR of 10.4% from 2023 to 2033.

Travel accommodations mean commercial use of a building, lodge, hotel, or resort for the vacation of rentals who are visiting for business purposes or vacation to stay in a lodge for a couple of time or to spend a vacation like a summer vacation to enjoy with a family or with a friend or with colleagues. Travel accommodation can be done online or offline with various types of websites and also with hotels website nowadays the technologies have been developed and also various websites had been developed in developing countries and also in developed countries. Recently launched OYO rooms and MakeMyTrip these new companies also created a new campaign in the market to reach customers by offering the best compliments. 

Growing high demand for vacation hotels to stay a couple of times for relaxation or summer vacation, so the various kinds of hotels had been in approaching customer-oriented discounts. In online booking of resorts or hotels fake website is also created by hackers like fake hotels to make a loss of payment to the party. The government should take responsibility for tourism towards cleanliness and also for the help of support to the people. The trend is to create eco-friendly travel accommodations. The government should take severe action against fraud activities by other people. The hotels or resorts should help the person in terms of any kind of problems which will create the best impression on hotels or resorts will be given a high market share.

Market Segmental Analysis, 2023-2033

Travel Accommodation Market by type resorts and hotels will make a huge market share because in developing countries the family will prefer resorts and hotels due to their comfort in their launch of accommodation of a room as luxury and in developed countries mainly will prefer resorts they will prefer luxurious stay for their trip or enjoyment of their life as some time for their vacation. During vacation, some people will feel uncomfortable staying in hotels and other kinds of stay, so developing countries and mainly developed countries will prefer only luxurious kinds of stay like resorts, and five-star hotels and they will check the ratings before the check-in of hotels.

The travel accommodation market by Price Range Mid-range will be poised for high market share, as developing countries will prefer only a mid-range of stay of hotels will be perfect for them to stay according to their price range. Mainly in developing countries will check the price range before check-in hotels or the price of staying in hotels, the person will check the comfort zone of residing hotels mainly in developing countries will check for check-in and check-out date and also their rating of the hotels as such as wifi, foods, accomplishments offering by the hotels or resorts. Developing countries will book hotels near tourist places because it will reduce their cost or save money.

Based on the regions, the global travel accommodation market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific region is poised to have the largest market share in the Travel accommodation market. The region is high because of its population they mainly prefer vacation for their enjoyment of the stay. Based on the region Asia Pacific is developing its infrastructure or improving its facilities the accomplishment such as wifi, food for breakfast and lunch, or dinner, so every person in developing countries mainly prefers only facilities provided by the hotels or resorts to spend on vacation time.

Key Market Players

The Major key players in the global travel accommodation market are: 

• Marriott International
• Hyatt Hotels Corporation
• Wyndham Destinations
• Hilton Worldwide Holdings Inc
• Accor Hotels Group
• Radisson Hotel Group
• Airbnb Inc
• A&O Hotels and Hostels GmbH
• Red Lion Hotels Corporation
• Oyo Rooms
• Rewe Group
• MGM Resorts International
• The Ascott Limited
• Shanghai Jin Jiang International Hotels (Group) Company Limited
• Downer EDI Limited.

Recent Development

• In January 2023, Accor continued luxury expansion in India with the signing of Fairmont Shimla Fagu. Accor, a world-leading hospitality group with over 430 hotels across India, the Middle East, Africa, and Turkey, expanded its Fairmont Hotels & Resorts portfolio in India with the signing of Fairmont Shimla Fagu.
• In May 2023, MGM resorts international announced an agreement to acquire a game development company push gaming by subsidiary Leovegas.
• In March 2023, REWE Group and Trigo opened a hybrid-autonomous store in Germany, It is a grocery retailer REWE Group had partnered with computer vision company Trigo to open a hybrid-autonomous store in Cologne, Germany. Covering a 600m² area, the supermarket is claimed to be the largest hybrid-autonomous store in the country. It is designed to enable customers to pay for their purchases either in the traditional way or autonomously.

Report Scope of the Global Travel Accommodation Market 

This market research study categorizes the travel accommodation market based on type, application, price range, and mode of booking at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Hotels
• Hostels
• Resorts
• Vacation Rentals
• Others

By Application Outlook (Sales, USD Million, 2019-2033)

• Leisure
• Professional
• Others

By Price Point Outlook (Sales, USD Million, 2019-2033)

• Economy
• Mid-Range
• Luxury

By Mode Of Booking Outlook (Sales, USD Million, 2019-2033)

• Online Travel Agency
• Direct Booking
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA