Hotels - Lebanon | Statista Market Forecast

It is projected that the Hotels market in Lebanon will attain a revenue of US$108.30m by the year 2024.
Furthermore, it is anticipated that there will be an annual growth rate of 4.79% (CAGR 2024-2029), which will result in a projected market volume of US$136.80m by the year 2029.
The number of users in the Hotels market is also expected to increase, with a projected amount of 637.60k users by 2029.
In 2024, the user penetration rate is expected to be 11.8%, and this is expected to rise to 13.4% by 2029.
The projected average revenue per user (ARPU) is expected to be US$175.40.
It is expected that 86% of the total revenue in the Hotels market will be generated through online sales by 2029.
In terms of global comparison, United States is expected to generate the highest revenue (US$111bn in 2024) in the Hotels market.
Lebanon's hotel market is adapting to the changing demands of travelers by offering unique experiences that showcase the country's rich cultural heritage.

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.

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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)

Lebanon, known for its rich history and vibrant culture, has a dynamic Hotels market that reflects the country's diverse tourism landscape.

Customer preferences: Tourists visiting Lebanon have shown a growing interest in boutique hotels and eco-friendly accommodations, seeking unique and sustainable experiences during their stay. Additionally, there is a rising demand for luxury hotels offering high-end amenities and personalized services to cater to affluent travelers.

Trends in the market: One noticeable trend in the Hotels market in Lebanon is the increasing popularity of online booking platforms, allowing visitors to easily compare prices and amenities before making reservations. Moreover, the emergence of themed hotels and experiential stays has been gaining traction, attracting travelers looking for immersive and unconventional lodging options.

Local special circumstances: Lebanon's strategic location in the Middle East, with its cultural heritage sites and culinary offerings, positions the country as a desirable tourist destination. The Hotels market benefits from Lebanon's diverse attractions, including historical landmarks, beautiful beaches, and vibrant nightlife, which contribute to the sector's growth and development.

Underlying macroeconomic factors: Despite facing economic challenges in recent years, Lebanon's Hotels market continues to evolve, driven by government initiatives to promote tourism and infrastructure development. The country's strategic investments in hospitality and tourism projects, coupled with ongoing efforts to enhance visitor experiences, play a crucial role in shaping the market's trajectory. Additionally, fluctuations in exchange rates and geopolitical events in the region can impact tourist inflows and influence the Hotels market in Lebanon.

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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