Hotels - Chile | Statista Market Forecast

In Chile, the Hotels market is expected to see a significant increase in revenue in the coming years.
Specifically, revenue is projected to reach US$1.13bn by 2024.
Looking ahead, the market is expected to continue growing at an annual growth rate of 5.21%, resulting in a projected market volume of US$1.46bn by 2029.
Furthermore, the number of users in the Hotels market is expected to increase to 6.08m users by 2029, with user penetration expected to rise from 21.6% in 2024 to 30.6% by 2029.
The average revenue per user (ARPU) is expected to be US$266.90.
It's worth noting that in the Hotels market, online sales will account for 81% of total revenue by 2029.
It's interesting to compare these figures to other countries.
The United States is expected to generate the most revenue in the Hotels market, with projections of US$111bn in 2024.
Chile's hotel market is seeing a rise in eco-tourism, with many hotels emphasizing sustainable practices and offering unique experiences in natural settings.

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.

Booked directly via the providers website, through a tour operator, an online travel agency (OTA), a travel agency or by telephone

Private accommodation and holiday flats, private room and accommodation rentals (e.g. Airbnb)

The Hotels market in Chile has been experiencing significant growth and development in recent years.

Customer preferences: Travelers in Chile are increasingly looking for unique and authentic experiences, leading to a rise in demand for boutique and eco-friendly hotels. Customers are also placing a strong emphasis on convenience and technology, driving the adoption of online booking platforms and smart hotel amenities.

Trends in the market: One notable trend in the Chilean Hotels market is the increasing focus on sustainability and eco-friendly practices. Many hotels are implementing green initiatives to appeal to environmentally conscious travelers. Additionally, there is a growing trend towards experiential travel, with hotels offering activities and cultural experiences to attract guests.

Local special circumstances: Chile's diverse geography and natural beauty play a significant role in shaping the Hotels market. The country's stunning landscapes, including the Atacama Desert and Patagonia, attract travelers seeking adventure and exploration. This has led to a rise in demand for hotels in these regions, offering unique experiences such as stargazing or glacier hiking.

Underlying macroeconomic factors: The stability of Chile's economy and the growth of its tourism industry are key macroeconomic factors driving the development of the Hotels market. As the country continues to attract international visitors and invest in infrastructure, the hospitality sector is poised for further expansion. Additionally, government initiatives to promote tourism and foreign investment are creating a favorable business environment for hoteliers in Chile.

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.

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