Budget Hotels Market to Reach USD 430.9bn, Globally, by 2032, According to Allied Market Research.
| Date | 24 October 2023 |
| Published date | 24 October 2023 |
M2 EQUITYBITES-October 24, 2023-Budget Hotels Market to Reach USD 430.9bn, Globally, by 2032, According to Allied Market Research
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US-based market research and business-consulting firm Allied Market Research published a report, titled, "Budget Hotels Market by Type (Ltd.-Service Hotels, Capsule Hotels, Hostels, Motels, and Others), Guest Type (Business Travelers, Leisure Travelers, and Others), and Mode of Booking (Online Travel Agency, Hotel Websites, Direct Booking, and Others): Global Opportunity Analysis and Industry Forecast, 2023--2032," the firm said.
According to the report, the global budget hotels market size was valued at USD276.3 bn in 2022, and is projected to reach USD 430.9bn by 2032, growing at a CAGR of 4.1% from 2023 to 2032.
A budget hotel is a type of hotel in the hospitality industry. Budget hotels cater to travelers who are looking for affordable accommodation options without compromising on basic amenities and comfort.
A budget hotel is a place where you can stay for as little as you need and as long as you don't want more than you can afford.
Budget hotels provide basic amenities like comfortable rooms and clean facilities, as well as friendly...
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