Hotels - Slovakia

  • Slovakia
  • By 2024, the Hotels market in Slovakia is projected to earn a revenue of US$0.66bn.
  • It is expected to display an annual growth rate of 2.04% (CAGR 2024-2029) resulting in a market volume of US$0.73bn by 2029.
  • The number of users in this market is anticipated to reach 3.30m users by 2029.
  • In 2024, user penetration rate is expected to be 43.7%, which is projected to increase to 59.2% by 2029.
  • The estimated average revenue per user (ARPU) is US$263.80.
  • Online sales are expected to account for 76% of the total revenue in the Hotels market by 2029.
  • In comparison to other countries, United States is expected to generate the highest revenue of US$110,600m in 2024.
  • Slovakia's hotel market is experiencing a rise in demand for eco-friendly accommodations and wellness facilities.

Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Hotels market in Slovakia has been experiencing steady growth and development in recent years, reflecting the country's increasing popularity as a tourist destination.

Customer preferences:
Travelers in Slovakia are showing a growing preference for unique and authentic experiences, leading to a rise in demand for boutique hotels and eco-friendly accommodations. Tourists are increasingly seeking out personalized services, locally sourced amenities, and immersive cultural experiences during their stay.

Trends in the market:
One notable trend in the Slovakian Hotels market is the increasing use of technology to enhance customer experiences. Hotels are investing in digital check-in processes, smart room features, and mobile concierge services to cater to the tech-savvy preferences of modern travelers. Additionally, there is a growing trend towards wellness tourism, with hotels offering spa facilities, yoga classes, and healthy dining options to attract health-conscious guests.

Local special circumstances:
Slovakia's rich cultural heritage and natural beauty play a significant role in shaping the Hotels market in the country. The presence of historical landmarks, picturesque landscapes, and thermal springs attracts a diverse range of tourists, from history enthusiasts to outdoor adventurers. This diversity in tourist preferences has led to a varied hotel landscape, with options ranging from luxury resorts to charming guesthouses.

Underlying macroeconomic factors:
The overall economic stability and growth in Slovakia have contributed to the positive trajectory of the Hotels market. As disposable incomes rise and consumer confidence remains high, more people are willing to spend on travel and accommodation. Additionally, government initiatives to promote tourism and infrastructure development have further boosted the hospitality sector in Slovakia.

Methodology

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.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Global Comparison
  • Hotel Star Rating
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)