Hotels - Ireland | Statista Market Forecast

The Hotels market in Ireland is predicted to achieve a revenue of US$1.43bn in 2024.
The revenue is expected to grow annually at a rate of 4.23% (CAGR 2024-2029), resulting in a projected market volume of US$1.76bn by 2029.
As for the number of users, the Hotels market is estimated to have 3.33m users users by 2029.
The user penetration rate is expected to increase from 54.1% in 2024 to 63.6% by 2029.
The average revenue per user (ARPU) is expected to be US$520.50.
In addition, online sales are projected to generate 85% of the total revenue by 2029.
It is worth noting that in global comparison, United States is expected to generate the largest revenue in the Hotels market, with US$111bn in 2024.
Ireland's hotel market is experiencing a rise in demand for sustainable and eco-friendly accommodations.

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 Ireland has been experiencing significant growth and development in recent years.

Customer preferences: Customers in Ireland are increasingly looking for unique and authentic experiences when choosing accommodations, leading to a rise in demand for boutique hotels and eco-friendly options. The emphasis on personalized services and locally sourced amenities has become a key factor influencing customer choices in the hotel market.

Trends in the market: One prominent trend in the Irish hotel market is the increasing focus on sustainability and green initiatives. Many hotels are implementing eco-friendly practices to appeal to environmentally conscious travelers. Additionally, there has been a growing trend towards experiential travel, with hotels offering activities and packages that allow guests to immerse themselves in the local culture and traditions.

Local special circumstances: Ireland's tourism industry plays a significant role in driving the growth of the hotel market. The country's stunning landscapes, rich history, and vibrant culture attract millions of visitors each year, creating a high demand for accommodations. The unique charm of Irish hospitality, known for its warmth and friendliness, also contributes to the popularity of hotels in the region.

Underlying macroeconomic factors: The strong performance of the Irish economy in recent years has positively impacted the Hotels market. With increasing disposable incomes and a growing middle class, more people have the financial means to travel and stay in hotels. Additionally, government initiatives to promote tourism and investment in infrastructure have further boosted the hospitality sector in Ireland.

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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