Global - Online Accommodation Booking Market Overview:
Online accommodation booking enables potential guests to self-book and pay via website and other channels, while also providing the best tools to run and scale operations in one location. Reservation technology (res-tech) has progressed to the point where it serves as a central hub for managing all aspects of business, from marketing to distribution to operations. Online accommodation booking are a popular way to reserve hotel rooms. Travelers can book rooms on a computer using online security to protect their privacy and financial information, as well as several online travel agencies to compare prices and amenities at various hotels, villas, cottages and lodge. Prior to the Internet, travellers could make a reservation by writing, calling the hotel directly, or using a travel agent. Online travel agencies now have images of hotels and rooms, information on prices and deals, and even information on nearby resorts. Many also allow travellers' reviews to be recorded with the online travel agent. Last-minute travel arrangements can also benefit from online accommodation booking. If some rooms remain available, hotels may reduce the price of a room.
- Increased Demand for Online Booking due to Mobile Apps
- Emergence of No Commission Platforms in Accommodation Industry
- Lack of Trust on Online Booking
- COVID19 has hampered the Accommodation Industry Growth
- Increase in Number of International or Domestic Travel
- Increase in Incidence of Failed Transactions
- Rising Concern about Data Hacking
The demand for Online Accommodation Booking is increasing. The industry is segmented, but it is predicted to grow as rise in online travel agency and increasing international and domestic travel, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position.
Some of the key players profiled in the report are Trivago N.V. (Germany), Airbnb (United States), Expedia Group (United States), Goibibo (India), Agoda (Singapore), HotelsCombined (Australia), Oyo Rooms (India), Booking.com B.V. (Netherlands), Hotels.com (United States), Priceline.com (United States), KAYAK (United States) and TripAdvisor (United States). Additionally, following companies can also be profiled that are part of our coverage like Treebo Hotels (India), MiStay (India) and Dayuse (France). Analyst at AMA Research see United States Vendors to retain maximum share of Global - Online Accommodation Booking market by 2026. Considering Market by Destination, the sub-segment i.e. International will boost the - Online Accommodation Booking market. Considering Market by Age Group, the sub-segment i.e. 21-30 will boost the - Online Accommodation Booking market.
Latest Market Insights:
In March 2019 Airbnb had announced the acquisition of HotelTonight. This acquisition enables Airbnb continue providing guests with an incredible last-minute travel experience that offers new, memorable accommodation on every trip, on any schedule, at any time. Together, HotelTonight and Airbnb can provide tourists with more alternatives while also offering the world's best boutique and independent hotels with an authentic partner to connect them with those guests.
What Can be Explored with the - Online Accommodation Booking Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global - Online Accommodation Booking Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in - Online Accommodation Booking
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global - Online Accommodation Booking market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in - Online Accommodation Booking market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners and End-use industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global - Online Accommodation Booking Market?
The - Online Accommodation Booking market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in - Online Accommodation Booking Market?
Top performing companies in the Global - Online Accommodation Booking market are Trivago N.V. (Germany), Airbnb (United States), Expedia Group (United States), Goibibo (India), Agoda (Singapore), HotelsCombined (Australia), Oyo Rooms (India), Booking.com B.V. (Netherlands), Hotels.com (United States), Priceline.com (United States), KAYAK (United States) and TripAdvisor (United States), to name a few.
3. What trending factors would impact - Online Accommodation Booking Market growth most?
"Rapid Development of Voice-Activated Virtual Assistants
" is seen as one of major influencing trends for - Online Accommodation Booking Market during projected period 2020-2026.