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Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
The Hotels market in Americas is experiencing dynamic growth and evolution, driven by various factors shaping consumer preferences and market trends.
Customer preferences: Customers in the Americas are increasingly seeking unique and personalized hotel experiences. They are looking for accommodation options that offer not only comfort and convenience but also a sense of local culture and authenticity. This has led to a rise in demand for boutique hotels, eco-friendly properties, and establishments that provide immersive experiences for travelers.
Trends in the market: In the United States, there is a growing trend towards experiential travel, with travelers seeking out hotels that offer wellness amenities, unique dining experiences, and opportunities for cultural immersion. This has resulted in the rise of wellness resorts, food-focused hotels, and properties located in off-the-beaten-path destinations. Additionally, the use of technology in the hospitality sector, such as mobile check-ins and smart room features, is becoming more prevalent to enhance the overall guest experience.
Local special circumstances: In Brazil, the hotel market is influenced by the country's vast natural beauty and diverse cultural offerings. As a result, there is a growing demand for eco-friendly resorts in the Amazon rainforest, luxury beachfront properties in popular coastal destinations, and heritage hotels in historic cities. The emphasis on sustainability and preservation of the environment is a key factor driving the development of unique hotel concepts in the region.
Underlying macroeconomic factors: The economic stability and growth in countries like Canada and Chile have contributed to a positive outlook for the hotel industry in these markets. With a strong focus on tourism promotion and infrastructure development, these countries are attracting a growing number of international visitors, leading to increased demand for hotel accommodations. Additionally, favorable exchange rates and government initiatives to support the tourism sector have further bolstered the growth of the hotel market in the Americas.
Data coverage:
The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels.Modeling approach:
Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)