Hotels - Laos | Statista Market Forecast

Hotels - Laos

Laos

Highlights

Laos is expected to see revenue in the Hotels market reach US$49.59m by 2024.
It is projected that the revenue will grow annually at a rate of 7.88% between 2024 and 2029, resulting in a market volume of US$72.47m by 2029.
By 2029, the number of users in the Hotels market is expected to reach 591.10k users.
User penetration is forecasted to increase from 5.5% in 2024 to 7.2% by 2029.
The average revenue per user (ARPU) is expected to be US$115.70.
In the Hotels market, it is estimated that 73% of total revenue will be generated through online sales by 2029.
Comparatively, United States is projected to generate the highest revenue, with US$111bn in 2024.
Laos' hotel market is experiencing growth due to the country's increasing popularity as a tourist destination.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Laos are increasingly seeking unique and authentic experiences when choosing accommodation options. This trend aligns with the global shift towards experiential travel, where tourists prioritize cultural immersion and personalized services. As a result, boutique hotels and eco-friendly accommodations are gaining popularity in Laos, catering to the demand for distinctive and sustainable lodging options.

Trends in the market: One notable trend in the Hotels market in Laos is the rise of luxury resorts and wellness retreats, particularly in scenic and tranquil locations. These establishments target high-end tourists looking for premium amenities and relaxation experiences amidst Laos' natural beauty. Additionally, the growing popularity of adventure tourism in Laos has led to an increase in demand for hotels catering to outdoor enthusiasts, offering activities such as trekking, cycling, and river exploration.

Local special circumstances: Laos' unique cultural heritage and stunning landscapes present opportunities for niche hotel developments that showcase the country's rich history and natural wonders. Traditional Lao architecture and design elements are increasingly incorporated into hotel properties to provide guests with an authentic and immersive stay. Moreover, the government's efforts to promote sustainable tourism practices have encouraged the emergence of eco-conscious hotels that minimize their environmental impact and support local communities.

Underlying macroeconomic factors: The steady growth of Laos' economy, driven by sectors such as tourism, has contributed to the expansion of the Hotels market. Increasing disposable incomes among both domestic and international travelers have fueled the demand for diverse accommodation options, ranging from budget-friendly guesthouses to high-end luxury resorts. Furthermore, infrastructure improvements and government initiatives to enhance the tourism sector have made Laos a more attractive destination for hotel investors and developers, leading to a greater variety of offerings 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.