The Global Online Accommodation Booking Market 2018 report has been added to ResearchAndMarkets.com’s offering.
Online accommodation bookings are projected to see steady growth worldwide, increasing their share of the overall lodging market. By 2022, nearly one-half of hotel booking revenues are projected to be online, and an even higher share of short-term rentals.
A major part of the online accommodation market is controlled by online intermediaries, such as online travel agencies (OTAs). The world’s top two OTAs, Booking Holdings and Expedia, together accounted for close to one trillion room nights booked in 2017, according to company data cited in the report. Direct suppliers, such as hotels, are recognising the need to ramp up their loyalty programs and highlight experiences in order to respond to the OTA threat.
Another group of market players which challenge both OTAs and hotels in the online space are peer-to-peer accommodation sharing platforms, as the report reveals. Platforms such as Airbnb appeal especially to younger travellers. In the USA, the number of Airbnb users is projected to expand by more than 10 million between 2017 and 2022, and in the UK close to one in three individuals made reservations from specialised peer-to-peer platforms and apps.
Another prominent market trend is the rise of the mobile channel. The trend is especially pronounced in Latin America, where a double-digit share of mobile Internet users in Mexico and Argentina booked travel lodging on a mobile device, according to surveys cited in the report.
Companies featured:
- Agoda Company Pte. Ltd.
- Airbnb, Inc.
- Booking.com Ltd
- Choice Hotels AS
- Ctrip.com International, Ltd.
- Expedia Group, Inc.
- Hilton Worldwide Holdings Inc.
- Hotels.com
- ibibo Group Private Ltd.
- InterContinental Hotels Group PLC
- MakeMyTrip Ltd
- Marriott International Inc.
- Qunar.com Inc.
- priceline.com LLC
- Rakuten Travel Inc.
- Ryanair Holdings PLC
- Traveloka Holding Ltd.
- TripAdvisor, Inc.
- Trivago N.V.
- Tuniu Corporation
- Wyndham Hotel Group, LLC
For more information about this report visit ResearchAndMarkets.
