Hostels Markets | Size, Trends, Forecast

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Hostels Market Research Report - Segmentation By Deployment (Hybrid, On-Premise, and Cloud), By Solution (Channel Manager, Production Reports, Daily Activity Report, Room Management, Canteen Management, Invoice Management, Hostel Member Management), By Enterprise (Small and Medium Enterprises and Large Enterprises), and Region, Market Share, In-Depth Analysis, Detailed Overview, and Forecast, 2022 to 2027.

Published: January, 2022

ID: 11050

Pages: 175

Hostels Market Size & Growth (2022 - 2027):

The Global Hostels Market was worth USD 4.37 billion in 2021 and is projected to reach the valuation of USD 5.54 billion by 2027, and is predicted to register a CAGR of 20% throughout the conjecture period (2022 - 2027).

The word "hostel" evokes the style of a one-bedroom, a small and inexpensive accommodation for people who want to adapt to a cheap stay. Hostels today include private rooms and all the hotel-like amenities. It is true that travelers will find accommodation elsewhere at cheaper prices, but this travel segment is also undergoing major changes to form its own niche in the hotel industry and now meets the needs of travel enthusiasts around the world, replacing the dormitory hostel image of the past.

Market Drivers and Restraints:

Growth is primarily driven by resuming business and adapting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote work, and business closures which resulted in operational challenges. Increasing spending by millennials (ages 18-35) on travel is a key factor in the growth of the hostel market. Due to low cost, value for money, experience-based accommodation, convenient locations, and opportunities to meet millennials, other travelers opt for hostels. More than 70% of hostel travelers are millennials, 15% of whom have spent the last 12 months in a hostel. In the United States, 85% of travelers to millennial hostels have taken a trip abroad in the past 12 months, compared to just 33% of all leisure travelers in the US. The hostel industry has seen strong growth driven by millennial travelers (ages 18-35) looking to spend more money on longer trips and see the world as much as possible. Online channels are the main growth engine in the hospitality Market.

Leaving behind their old notion that they previously only provided bunk beds, hostels today offer private rooms with lively cocktail bars, yoga classes, and luxurious interiors. Popular misconceptions are the biggest limiting factor in the youth hostel market. There are many misconceptions about hostels around the world that often lead people to create a negative opinion about them. In general, people assume that shelters are only for young people, some feel that the shelters are not hygienic or unsafe. Also, people who had a bad experience in a shelter generalized the notion to all shelters and refrained from using them. Such misconceptions limit the growth of the youth hostel market. However, inadequate awareness and misconceptions are the main obstacles likely to hamper the growth of the hostel market.

HOSTELS MARKET REPORT COVERAGE:

REPORT METRIC	DETAILS
Market Size Available	2021 – 2027
Base Year	2021
Forecast Period	2022 - 2027
CAGR	20%
Segments Covered	By Implementation, By Solution, By Company Size, By Region
Various Analyses Covered	Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Regions Covered	North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled	eZee Frontdesk, Hostelworld, Safestay plc, RoomMaster, Rezlynx PMS, Frontdesk Anywhere, MSI CloudPM, Maestro PMS, Hotelogix PMS, OPERA Property Management System (PMS), A&O Hotels and Hostels, Cloudbeds, WOKSEN, Canada Hostels, Newquay Backpackers, London Backpackers, Green Tortoise Hostel, and Hostelling International and Others.

Market Segmentation:

Hostels Market – By Implementation:

cloud
on-premises
hybrid

Hostels Market – By Solution:

youth hostel member management
bill management
canteen management
room management
daily activity report
production reporting
channel manager

Hostels Market – By Company Size:

small and medium-sized companies
and large companies.

Market Regional Analysis:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

The North American hostel market is expected to grow at a substantial rate during the forecast period. This is due to the strong adoption of hostel due to its features such as powerful and efficient management of student accommodation, automated hostel attendance records, and multi-site user support. Asia-Pacific is expected to be a lucrative region of the hostel market during the outlook period. The adoption of hostels in the region is likely to be high as the software is easy to use and efficient and offers many useful features. The software offers innovative solutions for hostel, school, dorm, and university businesses.

Impact of COVID-19 on Hostels Market:

The recent coronavirus (COVID-19) sparked global concern in early January 2020, and by the end of March 2020, the pandemic had infected several people around the world (WHO, 2020). The severity of the pandemic can be assessed based on the number of past events, such as SARS, the Spanish flu, etc. Tourism and hospitality companies are deeply affected by COVID-19, which was declared a pandemic on March 12, 2020 (WHO, 2020). Due to the pandemic, job losses in the travel and tourism industry are expected to be 100.08 million worldwide (Statista, 2020). The pandemic has affected not only economically but also politically and socially (Cohen, 2012).

As the number of infected cases increases throughout the country and with the implementation of certain measures and campaigns such as social distancing, community closures, working from home, staying at home, automatic or mandatory quarantine, reduction of overcrowding, etc., pressure is created to close the tourism industry/business (Gretzel et al., 2020; Sigala, 2020). This change in the current system caused the onset of recession and depression, seeking a transformative change in society. According to a report, the fastest-growing sector in the tourism industry benefits many other sectors such as accommodation, catering, transport, retail, entertainment, etc., contributing to economic growth and global recovery.

Market Key Players:

Significant players in the Hostels Market include

eZee Frontdesk
Hostelworld
Safestay plc
RoomMaster
Rezlynx PMS
Frontdesk Anywhere
MSI CloudPM
Maestro PMS
Hotelogix PMS
OPERA Property Management System (PMS)
A&O Hotels and Hostels
Cloudbeds
WOKSEN
Canada Hostels
Newquay Backpackers
London Backpackers
Green Tortoise Hostel
Hostelling International

Recent Developments:

A unit of Goldman Sachs has purchased student accommodation at a private university in northern India for an enterprise value of ₹ 900 crores (about $ 120 million), two people familiar with the development said. Good Host Spaces, a majority-owned student accommodation company from Goldman Sachs, recently took over the land and facilities of the Sonipat-based OP Jindal Global University (JGU) hostel, Haryana.
The Bhopal District Administration acquired the shelter from the Maulana Azad National Institute of Technology (MANIT) to transform it into a quarantine center. After the acquisition, the administration began the process of evicting the shelters. Arrangements are being made for the stay of several people due to COVID-19 cases in the area. However, MANIT students and faculty opposed the move, saying it will affect internships on campus.
The European hostel chain Clink Hostels recently purchased the successful Ecomama and Cocomama boutique concept hostels located in the heart of the city of Amsterdam. Clink is really excited about this opportunity given his innovative approach to hostels and the similarities to Clink's Vision: wanting to make a difference by igniting the imaginations of those who love to travel and participate in new experiences.

1. Introduction

1.1 Market Definition

1.2 Scope of the report

1.3 Study Assumptions

1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology

2.1 Analysis Design

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Data Modelling

2.2.4 Expert Validation

2.3 Study Timeline

3. Report Overview

3.1 Executive Summary

3.2 Key Inferencees

4. Market Dynamics

4.1 Impact Analysis

4.1.1 Drivers

4.1.2 Restaints

4.1.3 Opportunities

4.2 Regulatory Environment

4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis

5.1 Key Player Benchmarking

5.1.1 Market share analysis

5.1.2 Products/Service

5.1.3 Regional Presence

5.2 Mergers & Acquistion Landscape

5.3 Joint Ventures & Collaborations

6. Market Segmentation

6.1 Hostels Market, By Deployment

6.1.1 Hybrid

6.1.2 Cloud

6.1.3 On-Premises

6.1.4 Market Size Estimations & Forecasts (2022 - 2027)

6.1.5 Y-o-Y Growth Rate Analysis

6.1.6 Market Attractiveness Index

6.2 Hostels Market, By Solution

6.2.1 Channel Manager

6.2.2 Production Reports

6.2.3 Daily Activity Report

6.2.4 Room Management

6.2.5 Canteen Management

6.2.6 Invoice Management

6.2.7 Hostel Member Management

6.2.8 Market Size Estimations & Forecasts (2022 - 2027)

6.2.9 Y-o-Y Growth Rate Analysis

6.2.10 Market Attractiveness Index

6.3 Hostels Market, By Enterprise

6.3.1 Small and Medium Enterprises

6.3.2 Large Enterprises

6.3.3 Market Size Estimations & Forecasts (2022 - 2027)

6.3.4 Y-o-Y Growth Rate Analysis

6.3.5 Market Attractiveness Index

7. Geographical Landscape

7.1 Global Identity Governance and Administration Market, by Region

7.2 North America - Market Analysis (2022 - 2027)

7.2.1 By Country

7.2.1.1 USA

7.2.1.2 Canada

7.2.2 By Deployment

7.2.3 By Solution

7.2.4 By Enterprise

7.3 Europe

7.3.1 By Country

7.3.1.1 UK

7.3.1.2 France

7.3.1.3 Germany

7.3.1.4 Spain

7.3.1.5 Italy

7.3.1.6 Rest of Europe

7.3.2 By Deployment

7.3.3 By Solution

7.3.4 By Enterprise

7.4 Asia Pacific

7.4.1 By Country

7.4.1.1 China

7.4.1.2 India

7.4.1.3 Japan

7.4.1.4 South Korea

7.4.1.5 South East Asia

7.4.1.6 Australia & NZ

7.4.1.7 Rest of Asia-Pacific

7.4.2 By Deployment

7.4.3 By Solution

7.4.4 By Enterprise

7.5 Latin America

7.5.1 By Country

7.5.1.1 Brazil

7.5.1.2 Argentina

7.5.1.3 Mexico

7.5.1.4 Rest of Latin America

7.5.2 By Deployment

7.5.3 By Solution

7.5.4 By Enterprise

7.6 Middle East and Africa

7.6.1 By Country

7.6.1.1 Middle East

7.6.1.2 Africa

7.6.2 By Deployment

7.6.3 By Solution

7.6.4 By Enterprise

8. Key Player Analysis

8.1 eZee Frontdesk

8.1.1 Business Description

8.1.2 Products/Service

8.1.3 Financials

8.1.4 SWOT Analysis

8.1.5 Recent Developments

8.1.6 Analyst Overview

8.2 Hostelworld

8.3 Safestay plc

8.4 RoomMaster

8.5 Rezlynx PMS

8.6 Frontdesk Anywhere

8.7 MSI CloudPM

8.8 Maestro PMS

8.9 OPERA Property Management System

8.10 A&O Hotels and Hostels

9. Market Outlook & Investment Opportunities

10. Appendix

List of Tables

List of Figures

Global Hostels Market By Region, From 2022 - 2027 ( USD Billion )
Global Hostels Market By Deployment, From 2022 - 2027 ( USD Billion )
Global Hybrid Market By Region, From 2022 - 2027 ( USD Billion )
Global Cloud Market By Region, From 2022 - 2027 ( USD Billion )
Global On-Premises Market By Region, From 2022 - 2027 ( USD Billion )
Global Hostels Market By Solution, From 2022 - 2027 ( USD Billion )
Global Channel Manager Market By Region, From 2022 - 2027 ( USD Billion )
Global Production Reports Market By Region, From 2022 - 2027 ( USD Billion )
Global Daily Activity Report Market By Region, From 2022 - 2027 ( USD Billion )
Global Room Management Market By Region, From 2022 - 2027 ( USD Billion )
Global Canteen Management Market By Region, From 2022 - 2027 ( USD Billion )
Global Invoice Management Market By Region, From 2022 - 2027 ( USD Billion )
Global Hostel Member Management Market By Region, From 2022 - 2027 ( USD Billion )
Global Hostels Market By Enterprise, From 2022 - 2027 ( USD Billion )
Global Small and Medium Enterprises Market By Region, From 2022 - 2027 ( USD Billion )
Global Large Enterprises Market By Region, From 2022 - 2027 ( USD Billion )