Europe Online Accommodation Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Online Accommodation Market Analysis
The Europe Online Accommodation Market has generated a revenue of USD 72 billion in the current year and is poised to achieve a CAGR more than of 3% for the forecast period
Post-pandemic, travelers with or without families want more space to live, work, and play and this has created a tremendous uptick in the use and popularity of online accommodation for leisure purposes. The market is growing rapidly due to its increased influence in the overall lodging market. Online Travel Agencies (OTA) are currently controlling the majority of the online accommodation market. Direct suppliers, such as hotels, are recognizing the need to rack up their loyalty programs and highlight experiences to respond to the OTA threat.
One of the reasons OTAs are preferred comes down to content aggregation: they allow customers to compare lots of products based on price, availability, and guest reviews all in one place. 30% of OTA bookers said they preferred OTAs because they felt they had lower rates. Leisure travelers are even more convinced of this fact.
Students and Youth shifting to Europe from the rest of the world have given preference to online accommodation. This has been taken up as opportunity by many companies and they have added a feature of hostels and students accommodations on their websites. Online accommodation has made it convenient, easy, and reliable for students to find accommodation in a completely new space. With the advancement of technology, and low internet costs it is easier for people to book hotels or homes from the comfort of their house and plan their travel. This has caused online accommodation services to become popular.
Europe Online Accommodation Market Trends
Increasing Internet Penetration is Augmenting the Market
E-commerce and Internet Banking services are growing at a rapid rate in the entire world. People from every age right from children to the old get excited to shop online from numerous e-stores. Internet accessibility to a large number of people means increased market penetration for online accommodation providers. The more people have internet access the farther the reach of the accommodation providers. During the COVID lockdown, a large number of people have shifted to online modes for shopping. Therefore, people are also more likely to go online when looking for accommodation. Online mode of shopping saves time and provides a lot of options for customers to choose from. This is the same in the case of online accommodation booking. Therefore, the industry may see a huge entry of new customers from diverse geographical regions.
The ecommerce industry along with online accommodation is expected to witness a rapid proliferation in the coming years. The rate of online shopping is growing beyond measure and this is driving e-commerce owners crazy to keep their solid place in the online race. Thus, online accommodation is gaining pace on similar lines across the entire Europe.
Easy Booking Facilities Promoting Healthy Tourism
The OTA has brought many hotels and accommodation services provided in an area on one platform. Easy comparison between two or more places located in the same region on the basis of their pictures, rates, facilities, and discount offers has made it very easy to find accommodation for travelers as per their needs. All the transactions takes place from authenticated websites ensuring safety to both customer and OTA 's. Customer's also have options like cancellation of bookings, changes to be done in bookings, switching options, installment options etc., which has made booking accommodation much more flexible for the customers. All these facilities have impressed the customers and hence promoted tourism. The companies in the industry know this and that is why technology is being integrated to create a greater in-room experience for customers. Also, the total contribution of travel and tourism to the gross domestic product (GDP) in Europe increased by 28 percent.
Europe Online Accommodation Industry Overview
The Europe Online Accommodation Market is a highly fragmented market, with the existence of many local and international players in each region across the globe. A few of the major players in Europe Online Accommodation Market are HRS, Hotelbeds Group SL, Booking.com, edreams, and InterContinental Hotels Group. The top players hold less than 40 % market share of the entire market. The market is highly competitive. The top players as well as the other players are trying to get a hold of the market by introducing new travel schemes and discounts, by offering more ease and facilities. The industry has a great scope for development because of tourist attraction towards Europe is increasing.
Europe Online Accommodation Market Leaders
-
HRS
-
Hotelbeds Group SL
-
InterContinental Hotels Group
-
Booking.com
-
eDreams
*Disclaimer: Major Players sorted in no particular order
Europe Online Accommodation Market News
- In August 2023, IHG Hotels & Resorts continued to grow its roster of partnerships across the globe and announced a new partnership with leading German football club, RB Leipzig, to become the Official Partner for the club during the 2023 - 2024 season.
- In May 2023 -Hotelbeds is seeing a notable rise in consumer demand for luxury travel with travelers around the world seeking more premium experiences than ever before. The trend has led the TravelTech company to respond by signing new partnerships, including The Lux Collective.
Europe Online Accommodation Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Luxury Hotels are booming the market
4.3 Market Restraints / Challenges
4.3.1 Data Security
4.4 Porters 5 Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Insights on Technology Innovations in the Market
4.6 Impact of COVID - 19 on the Industry
4.7 Market Opportunities
4.7.1 Target Emerging Travel Segments
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Hotels & Resorts
5.1.2 Package Holidays
5.1.3 Vacation Rentals
5.1.4 Others
5.2 By Platform
5.2.1 Mobile Application
5.2.2 Website
5.3 By Mode Of Booking
5.3.1 Third Party Online Portals / Online Travel Agencies ( OTA )
5.3.2 Direct / Captive portals
5.4 By Country
5.4.1 United Kingdom
5.4.2 Italy
5.4.3 Germany
5.4.4 France
5.4.5 Spain
5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
6.2.1 HRS
6.2.2 Hotelbeds Group SL
6.2.3 InterContinental Hotels Group
6.2.4 Booking.com
6.2.5 eDreams
6.2.6 Agoda
6.2.7 HostelWorld
6.2.8 Vrbo
6.2.9 G- Adventures
6.2.10 Travel Talk
6.2.11 Click Tours
6.2.12 Trafalgar
6.2.13 Expat Explore Travel
6.2.14 Topdeck*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Online Accommodation Industry Segmentation
Online Accommodation allows a customer to book and pay for accommodation directly through websites/portals. It is of the key things travelers do when planning a trip is to go online to search for and book the right accommodation. Various accommodation booking websites provide a range of accommodation options and relevant information such as rates, star ratings, customer review ratings, reviewers' comments, reservation policies, facilities, and so on. Europe's Online Accommodation Market is segmented By Type (Hotels and Resorts, Package Holidays, Vacation Rentals, and Others), By Platform type (Mobile application and Website), By Mode of Booking Type (Third Party online portals and direct/Captive portals) & By Countries (United Kingdom, Italy, Germany, France, Spain, and Rest of Europe). The report offers the Market size and Europe Online Accommodation Market in value (USD Million) for all the above segments.
| By Type | |
| Hotels & Resorts | |
| Package Holidays | |
| Vacation Rentals | |
| Others |
| By Platform | |
| Mobile Application | |
| Website |
| By Mode Of Booking | |
| Third Party Online Portals / Online Travel Agencies ( OTA ) | |
| Direct / Captive portals |
| By Country | |
| United Kingdom | |
| Italy | |
| Germany | |
| France | |
| Spain | |
| Rest of Europe |
Europe Online Accommodation Market Research FAQs
What is the current Europe Online Accommodation Market size?
The Europe Online Accommodation Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Europe Online Accommodation Market?
HRS, Hotelbeds Group SL, InterContinental Hotels Group , Booking.com and eDreams are the major companies operating in the Europe Online Accommodation Market.
What years does this Europe Online Accommodation Market cover?
The report covers the Europe Online Accommodation Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Online Accommodation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Online Accommodation Industry Report
Statistics for the 2024 Europe Online Accommodation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Online Accommodation analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Europe Online Accommodation Market Report Snapshots
