Definition:
The Hotels market 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.Additional Information:
The main performance indicators of the Hotels market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues. Users represent the aggregated number of guests. Each user is only counted once per year. 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. The scope includes domestic and outbound travel.
For further information on the data displayed, refer to the info button right next to each box.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
The Hotels market in Canada has been experiencing significant growth and transformation in recent years.
Customer preferences: Customers in Canada are increasingly seeking unique and personalized experiences when choosing accommodations, leading to a rise in boutique hotels and eco-friendly options. The demand for technology integration, such as mobile check-ins and smart room features, is also shaping customer preferences in the Canadian hotel market.
Trends in the market: One prominent trend in the Canadian hotel market is the increasing popularity of luxury and upscale hotels, driven by the growing number of affluent travelers. Additionally, the rise of experiential travel has led to an increased demand for hotels that offer local cultural experiences and authentic cuisine. The emergence of lifestyle hotels catering to specific interests and demographics is also gaining traction in Canada.
Local special circumstances: Canada's diverse landscape and seasonal attractions play a significant role in shaping the hotel market. Popular tourist destinations such as Banff and Whistler experience peak seasons, driving demand for accommodation during specific times of the year. The country's strong focus on sustainability and environmental conservation has also influenced the development of eco-friendly hotels and green initiatives within the industry.
Underlying macroeconomic factors: The stable economic growth in Canada, coupled with low unemployment rates, has contributed to increased domestic travel and tourism expenditure. The country's welcoming immigration policies have resulted in a steady influx of international visitors, further boosting the demand for hotels across the country. Additionally, government initiatives to promote tourism and infrastructure development have supported the expansion and diversification of the hotel market in Canada.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Sources: Statista Market Insights, Statista Consumer Insights Global
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights