Bed & Breakfast & Hostel Accommodations in the US - Industry Market Research Report

Bed & Breakfast & Hostel Accommodations in the US - Industry Market Research Report

  • April 2020 •
  • 36 pages •
  • Report ID: 90306 •
  • Format: PDF
All about comfort: rising consumer spending will boost industry revenue growth

Abstract

Bed & Breakfast & Hostel Accommodations in the US
The Bed and Breakfast and Hostel Accommodations industry has expanded significantly over the five years to 2019, reflecting growing consumer preferences toward affordable accommodation. Furthermore, demand for industry services has grown substantially over the past five years, bolstered by the expansion of both domestic and international travelers. Over the past five years, the industry has benefited from improving economic conditions, which enabled travelers to increase both the frequency and budget of their trips. Moreover, as more baby boomers are entering the retirement threshold, they typically have more leisure time, thus raising demand for industry services. As a result oft hese positive trends, industry revenue has increased during the current period. Over the five years to 2024, industry revenue is forecast to continue to rise, albeit at a slower rate. Increased external competition from alternative accommodations will likely hinder the industry over the next five years.

This industry comprises establishments that are primarily engaged in providing short-term lodging. Hotels, motels and casino hotels are excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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