Sample Report: Global Online Travel Accommodations Market Overview 2024
The newest yStats.com report, Global Online Travel Accommodations Market Overview 2024, provides a comprehensive analysis of the accelerating shift toward digital channels in the travel accommodations market. Key themes include the resurgence of post-pandemic travel demand, the rise of AI-driven personalization, and mobile-first booking preferences reshaping the landscape. The report details trends, major players, and technological advancements that are redefining the industry.
Description
Region : Global
Pages: 58
Publication Date: 6.11.2024
Questions Covered in the report:
- What are the key drivers of growth in the global online travel market through 2032?
- What is the expected value of the global OTA market by 2027?
- How are the social media platforms impacting the travel booking journey?
- Which country was the largest contributor to the global OTA market in 2023?
- What trends are emerging in consumer behavior regarding online travel bookings?
Key Findings:
The Global Number Of Travel App Downloads Surpassed 3 Billion In 2023
Digital Platforms Drive Growth in Global Travel Bookings
Online Travel Agencies (OTAs) and integrated digital platforms continue to gain market share, with OTAs projected to account for a significant portion of global hotel bookings. Leading platforms like Booking.com and Airbnb report substantial year-over-year revenue and booking growth, reflecting strong consumer preference for digital convenience, competitive pricing, and a streamlined booking experience.
Mobile and AI Enhance Customer Engagement and Experience
Mobile usage plays a vital role in travel accommodations, accounting for over a third of global bookings through mobile web and apps. Travelers increasingly rely on mobile for last-minute and on-the-go bookings, and digital solutions like mobile check-ins and digital room keys are highly preferred. The report also highlights AI’s growing presence in the industry, with 40% of global travelers using AI tools for planning accommodations and a majority of hotels deploying AI to enhance personalization and operational efficiency.
Direct Bookings Face Challenges as OTA Preference Grows
While many hotels encourage direct bookings through loyalty programs and exclusive offers, OTAs maintain strong appeal due to their expansive options and ease of comparison. Direct booking channels saw a slight decline in market share, underscoring the ongoing competition between direct and third-party platforms.
Table of Content:
- Key Takeaways
- Management Summary
- Global Online Travel Accommodations Market Overview
- Total Revenue of Booking.com, in USD billion, 2022 & 2023
- Gross Travel Booking Value of Booking.com, in USD billion, 2022 & 2023
- Number of Annual Booking.com App Users, in millions, 2018-2023
- Airbnb Revenue Value, in USD billion, 2022 & 2023
- Airbnb’s Gross Bookings Value, in USD billion, 2022 & 2023
- Trip.com’s Corporate Travel Revenue, in USD million, Q1 2023 & Q1 2024
- Share of Hotel Reservations from Direct Bookings, in %, 2022 & 2023
- Share of Online Booking Revenue from Direct Channels, in %, 2023
- OTA, Direct, and Offline Hotel Bookings Making Up Total Bookings, in %, 2022 & 2023
- Share of Direct Bookings Making Up Total Hotel Bookings, in %, 2023
- Number of Travel App Downloads, in billions, 2022 & 2023
- Annual Growth of Downloads of Travel Booking Categories, in % of Year-on-Year Growth, 2023
- Growth of Downloads of Travel Booking Apps from 2019, by app Type, in % of Growth, 2023
- Share of Potential AI Application Use of Hotels, in %, 2023
- Share of AI Technology Used by Hotels for Environmental Protection, in %, 2023
- AI Use Cases in Travel, in % of Travelers, October 2023
- Number of Hotel Check-Ins of “Hilton” Through App , in millions, June 2022 & June 2023
- Share of Travelers Who Want the Option to Use a Digital Hotel Room Key, in %, June 2024
- Average Time Travelers Spent on Resources Used on the Path to a Travel Purchase, in Minutes, April 2023
- Share of Travelers Who Visit an OTA Prior to Travel Purchase, by Travel Purchase Type, in % of Travelers, April 2023
- Resources Used Leading Up to Travel Purchase, in % of Travelers, April 2023
- Where Travelers Made a Travel Purchase for Their Most Recent Trip, in % of Travelers, April 2023
- Average Number of Pages Viewed by Travelers in the 45 Days Leading Up to Travel Purchase, by Website Type, in Pages, April 2023
- Components That Travelers Who Booked Multiple Trip Components Booked First, in % of Travelers, April 2023
- Travel Guests Who Are More Likely Than Average to Be Influenced by Advertising, by Guest Type, in % of Travelers, April 2023
- Breakdown of Where Hotel Guests Booked Their Trip, in %, April 2023
- Share of Travelers That Are Most Likely to Visit an OTA Next After Visiting a Hotel Or Airline Website Or App, in %, April 2023
- Share of Travelers That Are Most Likely to Visit Another Travel Website Such as an Airline, Hotel, or Meta Travel Website Next After Visiting an OTA, in %, April 2023
- Europe Online Travel Accommodations Market Overview
4.1. Regional
- Annual Growth of Guest Nights Booked via Top 4 Platforms, by Year, in % of Year-on-Year Growth, 2021 & 2022
4.2. EU Regional
- Nights Spent in Short-Stay Accommodation Booked Via Online Platforms, in millions, Q2 2018-Q2 2024
- Nights Spent in Short-Stay Accommodation Booked Via Online Platforms, in millions, in % of Month-on-Month Change, April 2024-June 2024
- Most Popular Regions for Short-Term Rental Accommodation Booked Via Online Platforms, by Number of Nights, in millions, Q1 2024
- North America Online Travel Accommodations Market Overview
5.1. U.S.
- Share of Hotels Making Up OTA Gross Bookings, in %, 2023
- Breakdown of the Travel Booking Apps Market, in %, 2023
Companies Mentioned:
- Booking.com
- Airbnb
- Trip.com
- Expedia
- Hilton
- Tripadvisor
