Countries Covered: Australia, Brazil, China, France, Germany, India, Italy, Japan, Mexico, Netherlands, Poland, Russia, South Africa, South Korea, Spain, Switzerland, Thailand, Turkey, UAE, UK, USA
Publication Date: 08/01/2020
Questions Covered in the report:
- What is the size of the online hotel booking market worldwide in 2019?
- What are the leading hotel distribution channels in various countries?
- Which top trends are influencing the development of online accommodation booking?
- How many people in different countries book travel accommodation online?
- How popular are accommodation sharing platforms among global online consumers?
OTAs drive the growth of global online accommodation booking
Global online accommodation market growth
According to the research findings of yStats.com, online accommodation booking revenues worldwide are growing at a strong rate of more than 10% annually. The digital platforms’ channel is expanding even more rapidly, mainly due to the growth of the top 3 global online travel agencies (OTAs), Expedia Group, Booking Holdings and Trip.com Group. Furthermore, accommodation sharing platforms are gaining popularity, with more than one in ten global online consumers booking their vacation lodging via websites such as Airbnb. As a result, Airbnb overtook Expedia by number of accommodation bookings in early 2019, and crossed one billion U.S. dollars mark in quarterly revenues.
Top trends in online accommodation booking
Among the major trends in accommodation booking is the continued rise of mobile channels. In the USA, more than a quarter of all direct hotel bookings are done on mobile, with more growth expected through 2022, and in Brazil, more than one in five smartphone owners used accommodation booking apps as of early 2019, according to the figures revealed in the yStats.com report. Another emerging trend is the expansion of OTAs and lodging suppliers into the tours and experiences segment, the fastest growing within the global travel industry.
High-growth online accommodation booking markets
Southeast Asia, China, India, and the Middle East are among the top online accommodation booking markets worldwide in terms of growth rate. In Southeast Asia alone, online hotel sales are projected to grow by more than 2.5 times between 2019 and 2025, and in China more than 1 billion room nights are expected to be booked online by 2020, according to forecasts cited by yStats.com.