In 2023, the revenue growth in the hotels market in the accommodation industry in Malaysia was at 18.4 percent, a decrease compared to 34.4 percent growth in the previous year. Statista Mobility Market Outlook forecasted that the revenue of the hotel industry in the country will continue to grow at an average CAGR of 3.98 percent from 2024 to 2029.
Revenue growth of the hotels market in Malaysia from 2018 to 2029
Data provided by Statista Market Insights are estimates.
The Hotels segment includes hotels and professionally-run guest houses. These accommodations can be booked directly via the providers website, through a tour operator, a travel agency, an online travel agency (OTA), or by telephone. Well-known providers are Hotels.com, trivago, and Booking.com. The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. Users represent all hotel guests. The scope includes domestic and outbound travel.
Private accommodation and holiday flats, as well as private room and accommodation rentals that are booked via portals such as Airbnb are not included.
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Statista. (July 15, 2024). Revenue growth of the hotels market in Malaysia from 2018 to 2029 [Graph]. In Statista. Retrieved November 05, 2024, from https://www.statista.com/forecasts/1381126/malaysia-hotels-market-revenue-growth
Statista. "Revenue growth of the hotels market in Malaysia from 2018 to 2029." Chart. July 15, 2024. Statista. Accessed November 05, 2024. https://www.statista.com/forecasts/1381126/malaysia-hotels-market-revenue-growth
Statista. (2024). Revenue growth of the hotels market in Malaysia from 2018 to 2029. Statista. Statista Inc.. Accessed: November 05, 2024. https://www.statista.com/forecasts/1381126/malaysia-hotels-market-revenue-growth
Statista. "Revenue Growth of The Hotels Market in Malaysia from 2018 to 2029." Statista, Statista Inc., 15 Jul 2024, https://www.statista.com/forecasts/1381126/malaysia-hotels-market-revenue-growth
Statista, Revenue growth of the hotels market in Malaysia from 2018 to 2029 Statista, https://www.statista.com/forecasts/1381126/malaysia-hotels-market-revenue-growth (last visited November 05, 2024)
Revenue growth of the hotels market in Malaysia from 2018 to 2029 [Graph], Statista, July 15, 2024. [Online]. Available: https://www.statista.com/forecasts/1381126/malaysia-hotels-market-revenue-growth
