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Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
Over the past few years, the Hotels market in Cambodia has experienced significant growth and development, attracting both domestic and international tourists.
Customer preferences: Travelers in Cambodia are increasingly looking for unique and authentic experiences, leading to a rise in demand for boutique hotels and eco-friendly accommodations. Visitors are also placing a higher value on convenience and personalized services, prompting hotels to enhance their customer service offerings and digital capabilities to cater to these preferences.
Trends in the market: One notable trend in the Cambodian Hotels market is the increasing investment in luxury and upscale hotel developments, particularly in popular tourist destinations such as Siem Reap and Phnom Penh. This trend is driven by the growing number of high-end travelers seeking luxury accommodations and premium amenities during their stay in the country. Additionally, the rise of digital platforms and online booking services has revolutionized the way hotels in Cambodia market their properties and attract guests, leading to a more competitive landscape in the industry.
Local special circumstances: Cambodia's rich cultural heritage and diverse natural landscapes make it a unique destination for travelers, influencing the design and offerings of hotels in the country. Many hotels in Cambodia incorporate traditional Khmer architecture and design elements, providing guests with an authentic cultural experience. Furthermore, the country's focus on sustainable tourism has led to the emergence of eco-friendly hotels and resorts that prioritize environmental conservation and community engagement.
Underlying macroeconomic factors: The Hotels market in Cambodia is also influenced by macroeconomic factors such as government policies, infrastructure development, and international tourism trends. The government's efforts to promote tourism and improve infrastructure have contributed to the growth of the hospitality sector in the country. Additionally, the increasing number of international arrivals and rising disposable incomes in key source markets have boosted demand for hotel accommodations in Cambodia, driving further expansion and investment in the market.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)