Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
The Hotels market in EMEA has been experiencing significant developments and trends in recent years, shaping the industry landscape across the region.
Customer preferences: Customers in the EMEA region have shown a growing interest in unique and personalized experiences when choosing hotels. They are increasingly looking for accommodations that offer local cultural immersion, sustainability initiatives, and authentic interactions with the community. This shift in preferences has led to the rise of boutique hotels, eco-friendly properties, and establishments that promote local craftsmanship and traditions.
Trends in the market: In the United Arab Emirates, there has been a surge in luxury hotel developments, particularly in Dubai and Abu Dhabi, to cater to the increasing number of high-end travelers seeking extravagant experiences. These hotels often feature opulent designs, world-class amenities, and innovative technologies to create a lavish stay for guests. Additionally, the growing popularity of wellness tourism has prompted the emergence of wellness-focused hotels and resorts in destinations like Oman and Morocco, offering specialized programs and services to promote health and relaxation.
Local special circumstances: In Turkey, the Hotels market has been influenced by a combination of factors such as political instability, security concerns, and fluctuations in currency value. As a result, hoteliers in the country have been focusing on offering competitive pricing strategies, tailored promotions, and enhanced security measures to attract both domestic and international guests. Additionally, the rise of online travel agencies and alternative accommodation options has led to increased competition within the market, prompting hotels to differentiate themselves through unique offerings and personalized services.
Underlying macroeconomic factors: The economic stability and growth in countries like Germany and France have contributed to a positive outlook for the Hotels market, with steady business and leisure travel demand supporting the industry. These countries benefit from strong infrastructure, diverse tourism offerings, and strategic marketing initiatives that attract a wide range of travelers. On the other hand, economic challenges in countries like Greece and Italy have impacted the Hotels market, leading to price competitiveness, investment limitations, and efforts to enhance the overall value proposition for guests.
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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