Hostels Market Introduction and Overview
According to SPER Market Research, the Global Hostels Market is estimated to reach USD 12.95 billion by 2032 with a CAGR of 11.2%.
The report includes an in-depth analysis of the Global Hostels Market, including market size and trends, product mix, distribution channels, and supplier analysis. The term "hostel" conjures up images of one-bedroom apartments, which are compact and affordable lodging options for travellers on a budget. Private rooms and other hotel-like amenities are now common at hostels. It is true that travellers can find lodging elsewhere for less money, but this travel sector is also undergoing significant changes to carve out its own position in the hotel business and today caters to the demands of travellers all over the world, dispelling the stereotype of the dorm hostel.
- 2022: Hostelworld.com Limited just introduced Solo, a social function that enables opt-in travellers to interact and meet in person, in 2022. Once the booking is done, the application function enables you to speak with visitors who are also visiting the same spot. The software additionally divides visitors into categories based on their likes and interests.
- The popular Ecomama and Cocomama boutique concept hostels located in the centre of Amsterdam were recently acquired by the European hostel group Clink Hostels. Given his creative approach to hostels and the similarities to Clink's Vision—wanting to make a difference by kindling the imaginations of folks who love to travel and partake in new experiences—Clink is really pleased about this chance.
Market Opportunities and Challenges
- Opportunities: Opportunities for lodging providers in the tourism sector have expanded due to rising trends in exotic travel, trekking, hiking, and other outdoor activities. In addition, people go to diverse locations for conditional reasons as the education and service industries continue to flourish. The most crucial item that individuals look for as they move from one location to another is an affordable lodging option. Therefore, it can be inferred that the expansion of the hostel market is a direct effect of individuals temporarily moving away for work or enjoyment.
- Challenges: Hostels have evolved beyond bunk beds, now offering private rooms, vibrant bars, yoga classes, and upscale interiors. But widespread misconceptions hinder the youth hostel market's growth, with many assuming they're solely for the young, unclean, or unsafe. Negative past experiences also contribute to these misconceptions. These factors, along with limited awareness, pose significant obstacles to the hostel industry's expansion.
Market Competitive Landscape
The market's top players are active on a global scale and are concentrating on growing their companies. In order to draw in more clients, they are also improving their infrastructure and service. A&O Hostels, Astor Hostels, Bohemian Hostels, Be Hostels, Che Lagarto, Clink Hostels, Destination Hostels, Equity Point Hostels, Funky Hostels, Gatliff's Hostels, Generator, Hostels One, Hostels HUB, Hoppo Hostels, K's Hostels, Loki Hostels, Nest Hostels, Mad Monkey, Meininger, St. Christopher's Inns are a few of the leading market participants.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Price Point, By Mode of Booking
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| Regions covered | North America, Europe, Asia Pacific, South America, Middle East and Africa
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| Companies Covered | A&O Hostels, Astor Hostels, Bohemian Hostels, Be Hostels, Che Lagarto, Clink Hostels, Destination Hostels, Equity Point Hostels, Funky Hostels, Gatliff's Hostels, Generator, Hostels One, Hostels HUB, Hoppo Hostels, K's Hostels, Loki Hostels, Nest Hostels, Mad Monkey, Meininger, St. Christopher's Inns., Others
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COVID-19 Impact on Global Hostels Market
The global pandemic-coronavirus (COVID-19) has infected a number of people worldwide, raising worry on a global scale. The COVID-19 has a significant impact on the tourism and hospitality industries. Job losses in the travel and tourist sector are anticipated as a result of the pandemic. They have been impacted socially, politically, and economically by the pandemic. There is pressure to shut down the tourism industry/business as the number of infected cases rises across the nation and with the implementation of specific measures and campaigns like social distance, community closures, working from home, staying at home, automatic or mandatory quarantine, reduction of overcrowding, etc. Recession and depression were brought on by this modification to the existing system, which sparked calls for a fundamental shift in society.
Key Target Audience
- Student
- Travelers
- Working Professionals
- Others
Our in-depth analysis of the Hostels Market includes the following segments:
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By Type:
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Students
Workers
Others
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By Price Point:
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Economy
Mid-Range
Luxury
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By Mode of Booking:
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Online Bookings
Direct Bookings
Others
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Key Topics Covered in the Report
- Global Hostels Market Size (FY’2022-FY’2032)
- Overview of Global Hostels Market
- Segmentation of Global Hostels Market By Type (Students and Workers)
- Segmentation of Global Hostels Market By Price Point (Economy, Mid-range and Luxury)
- Segmentation of Global Hostels Market By Mode of Booking (Online Bookings and Direct Bookings)
- Statistical Snap of Global Hostels Market
- Expansion Analysis of Global Hostels Market
- Problems and Obstacles in Global Hostels Market
- Competitive Landscape in the Global Hostels Market
- Impact of COVID-19 and Demonetization on Global Hostels Market
- Details on Current Investment in Global Hostels Market
- Competitive Analysis of Global Hostels Market
- Prominent Players in the Global Hostels Market
- SWOT Analysis of Global Hostels Market
- Global Hostels Market Future Outlook and Projections (FY’2022-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1 Scope of the report
1.2 Market segment analysis
2. Research Methodology
Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.2.2 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1 Driver, Restraint, Opportunity, and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 COVID-19 Impacts on Global Hostels Market
5. Market variables and outlook
5.1 SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2 PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3 PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4 Heat map analysis
6. Global Hostels Market, By Type, 2019-2032 (USD Million)
6.1 Students
6.2 Workers
6.3 Others
7. Global Hostels Market, By Price Point, 2019-2032 (USD Million)
7.1 Economy
7.2 Mid-Range
7.3 Luxury
8. Global Hostels Market, By Mode of Booking, 2019-2032 (USD Million)
8.1 Online Bookings
8.2 Direct Bookings
8.3 Others
9. Global Hostels Market, By Region, 2019-2032 (USD Million)
9.1 North America
9.1.1 United States
9.1.2 Canada
9.1.3 Mexico
9.2 Europe
9.2.1 Germany
9.2.2 United Kingdom
9.2.3 France
9.2.4 Italy
9.2.5 Spain
9.2.6 Rest of Europe
9.3 Asia-Pacific
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Australia
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 South America
9.4.1 Brazil
9.4.2 Argentina
9.4.3 Rest of South America
9.5 Middle East & Africa
9.5.1 Kingdom of Saudi Arabia
9.5.2 United Arab Emirates
9.5.3 Rest of Middle East & Africa
10. Company Profiles
10.1 A & O Hostels
10.1.1 Company details
10.1.2 Financial outlook
10.1.3 Product summary
10.1.4 Recent developments
10.2 Astor Hostels
10.2.1 Company details
10.2.2 Financial outlook
10.2.3 Product summary
10.2.4 Recent developments
10.3 Bohemian Hostels
10.3.1 Company details
10.3.2 Financial outlook
10.3.3 Product summary
10.3.4 Recent developments
10.4 Be Hostels
10.4.1 Company details
10.4.2 Financial outlook
10.4.3 Product summary
10.4.4 Recent developments
10.5 Che Lagarto
10.5.1 Company details
10.5.2 Financial outlook
10.5.3 Product summary
10.5.4 Recent developments
10.6 Clink Hostels
10.6.1 Company details
10.6.2 Financial outlook
10.6.3 Product summary
10.6.4 Recent developments
10.7 Destination Hostels
10.7.1 Company details
10.7.2 Financial outlook
10.7.3 Product summary
10.7.4 Recent developments
10.8 Equity Point Group
10.8.1 Company details
10.8.2 Financial outlook
10.8.3 Product summary
10.8.4 Recent developments
10.9 Funky Hostels
10.9.1 Company details
10.9.2 Financial outlook
10.9.3 Product summary
10.9.4 Recent developments
10.10 Gatliff Hebridean Hostels
10.10.1 Company details
10.10.2 Financial outlook
10.10.3 Product summary
10.10.4 Recent developments
10.11 Generator
10.11.1 Company details
10.11.2 Financial outlook
10.11.3 Product summary
10.11.4 Recent developments
10.12 Hostels One
10.12.1 Company details
10.12.2 Financial outlook
10.12.3 Product summary
10.12.4 Recent developments
10.13 Hostels HUB
10.13.1 Company details
10.13.2 Financial outlook
10.13.3 Product summary
10.13.4 Recent developments
10.14 Hoppo Hostels
10.14.1 Company details
10.14.2 Financial outlook
10.14.3 Product summary
10.14.4 Recent developments
10.15 K’s House
10.15.1 Company details
10.15.2 Financial outlook
10.15.3 Product summary
10.15.4 Recent developments
10.16 Loki Hostels
10.16.1 Company details
10.16.2 Financial outlook
10.16.3 Product summary
10.16.4 Recent developments
10.17 Nest Hotels
10.17.1 Company details
10.17.2 Financial outlook
10.17.3 Product summary
10.17.4 Recent developments
10.18 Mad Monkey
10.18.1 Company details
10.18.2 Financial outlook
10.18.3 Product summary
10.18.4 Recent developments
10.19 Meininger
10.19.1 Company details
10.19.2 Financial outlook
10.19.3 Product summary
10.19.4 Recent developments
10.20 St. Christopher’s Inns
10.20.1 Company details
10.20.2 Financial outlook
10.20.3 Product summary
10.20.4 Recent developments
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
