Consumer & Retail

According to a market report by Lucintel, the global hostel market is expected to grow with a CAGR of 10% to 12% from 2022 to 2027. The major drivers for this market are rise of solo travel, rising middle class population, growing popularity online travel agencies (OTAs), and increasing spending on travels.

In this market, student and worker hostels are the major types of hostels. Student hostel will remain the largest segment over the forecast period. Student hostel is a structure that provides tenants common space to meet up. It is used by educational institutions to accommodate their enrolled students.

Asia Pacific is expected to witness the highest growth over the forecast period. It will be due to increasing adoption of hostel due to rising spending on travel and rising number of institutions.

Hostelworld, Hostelling International, Green Tortoise Hostel, London Backpackers, Newquay Backpackers, Canada Hostels, WOKSEN, Cloudbeds, A&O Hotels and Hostels, OPERA Property Management System (PMS), Hotelogix PMS, Maestro PMS, MSI CloudPM, Frontdesk Anywhere, Rezlynx PMS, RoomMaster, Safestay plc and eZee Frontdesk are among the major suppliers of hostels.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global hostels market by location of type, price point, mode of booking, implementation, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Hostel Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global hostels market by type, price point, mode of booking, implementation, and region as follows:






















This 205-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/hostel-market.aspx or write us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the global hostel market by type (students, workers, and others), price point (economy, mid-range, and luxury), mode of booking (online bookings, direct booking, and others), implementation (cloud, on-premises, and hybrid), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?