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The millennial population is expected to drive the hostels market, as per The Business Research Company’s hostels market opportunities and strategies report.

The hostels market is expected to grow from $5.74 billion in 2021 to $7.27 billion in 2026 at a rate of 4.9%. The market is then expected to grow at a CAGR of 5.5% from 2026 and reach $9.50 billion in 2031.

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Major players in the hostels market include A&O Hotels and Hostels, Che Lagarto, St Christopher’s Inns, Vietnam Backpacker Hostels, Loki Hostels.

Hybrid hostels are growing in popularity among young professional travelers. They provide a combination of affordability and sociability of dorm-accommodation, with the high-end facilities of traditional hotels.

The Global Hostels Market Is Segmented:
By Type: Students, Workers, Other Types

By Price Point: Economy, Mid-Range, Luxury

By Booking: Online Bookings, Direct Bookings, Other Booking Modes

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global hostels market.

TBRC’s Hostels Market Report Covers:

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Hostels Market Report 2022 – Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides thorough hostels market research, analyzes and forecasts hostels market size, hostels market share, hostels market players, hostels market trends, hostels market segmentation and geographies, leading competitor revenues, profiles and market shares.

TBRC’s hostels market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

The hostels market consists of sales of hostels and related services. A hostel can be described as a kind of budget-friendly shared accommodation that has a common area. Hostels typically have dorm-style rooms for travelers, but private rooms and hotel-like facilities are also available nowadays. Hostels prefer to concentrate on building a sociable atmosphere and are much less costly than a hotel.

View Similar Reports From The Business Research Company:

Hotel And Other Travel Accommodation Global Market Report 2022

Non-Residential Accommodation Services Global Market Report 2022

Students And Workers Non-Residential Accommodation Global Market Report 2022

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