Airbnb retained its position as the world’s leading lodging provider in 2024; however, its sales are heavily reliant on a handful of markets. In order to maintain momentum, Airbnb will need to expand its geographical footprint, with Asia Pacific being a priority. Airbnb has announced it will be re-entering experiences, and has stated that it is looking at expanding into further categories. This company profile will look at which categories they might be, and which have the most potential.

As the world’s leading hotel group, Marriott has secured its leadership through a portfolio focused on upscale and luxury hotels, with the vast majority of its sales in North America. In order to be less reliant on that market, Marriott is expanding geographically, in particular in the Asia Pacific, but also through more mid-scale outlets outside of the US, with new concepts such as Four Points Flex. In 2024 it also partnered with Sonder a premium player in boutique hotels and short-term lets.

Luxury hotels in India attract a significant proportion of their demand from inbound travellers, and a slowdown in growth in inbound arrivals in 2024 is therefore set to impact the target audience of such hotels. In a bid to overcome this challenge, luxury hotel chains have been prioritising business travellers in 2024. As such, these hotel chains have bolstered their offering for the business segment through initiatives such as developing new conference facilities, comprehensive event managemen

Value sales of lodging in Ireland continue to increase, although growth is increasingly driven by rising prices rather than greater occupancy. Hotel occupancy in Ireland in the first half of 2024 was marginally up on 2023, which is also the forecast for the full year. Occupancy rates are being mainly sustained by stable domestic demand and more significantly, continued growth in the number of visitors from North America who tend to visit Ireland for a longer period. They are also more likely to

Lodging prices in Croatia continue to increase in 2024 following a sharp rise in 2023, driven by escalating operational and labour costs. This upward trend in prices has significantly impacted lodging, leading to a notable shift in the market. Tourists from Croatia’s main source markets, increasingly conscious of costs due to inflationary pressures over the past few years, are opting for budget hotels, campsites, and short-term rentals. The demand for short-term rentals, in particular, has exper

Lodging (destination) is seeing both positive developments and ongoing challenges in Bulgaria in 2024.The industry suffered badly during the era of the pandemic, and ongoing consumer price-sensitivity alongside inflationary pressures leading to elevated costs, are challenging operators’ profitability. Consumers are often trading down or shortening their stays due to budgetary constraints, for example. Operators are also experiencing staff shortages and are hoping for extended work visa options s

In 2024, inbound tourism has not fully rebounded, affecting both luxury and mid-market hotels, particularly in the capital and other major cities. These segments are still experiencing a lower number of tourists compared to 2019. Hotels in ski resorts are also increasingly impacted by changing weather patterns and shorter winter seasons, exacerbated by the noticeable absence of Russian and Ukrainian tourists who previously frequented the Slovak mountains. However, this decline is somewhat offset

In 2024, the number of guests staying in lodging facilities has already surpassed pre-pandemic levels but the number of room nights being booked has lagged behind because people have been taking shorter stays. Lodging guests are dominated by Czechs and tourists from neighbouring countries such as Slovakia and Poland. The shorter travel distances often mean these tourists take shorter stays and produce lower revenues especially for luxury and mid-market hotels. These domestic and regional guests

Despite the challenges posed by the pandemic and emerging concerns around stricter government regulations, the construction of hotels in Germany is thriving in 2024. The persistence of hotel development reflects both the resilience of the hospitality sector and the ongoing demand for accommodation in Germany’s key cities and tourist regions. Throughout the pandemic, accommodation in Germany, including hotels, faced unprecedented challenges, with lockdowns and travel restrictions severely impacti

Lodging (destination) is set to see a strong increase in retail value sales in Hungary in 2024. 2019, the last year before the COVID-19 pandemic, has become the benchmark against which lodging operators compare their performance, even in 2024. Although the post-pandemic period has brought significant changes impacting demand in both positive and negative directions, room price rates have moved upwards only moderately to remain tolerable for the more price sensitive domestic guests. Meanwhile, lo

Lodging in South Africa continues to record solid growth in 2024, with value sales set to fully recover to pre-pandemic levels over the year. Hotels is a major contributor. Despite a significant dip during the pandemic, luxury hotels continues to make strong progress. In line with the return of international travellers and local high-end guests seeking premium experiences, many luxury hotels are able to command higher room rates while maintaining steady occupancy. As consumer confidence in hospi

The hotel industry in Poland is gradually recovering after the pandemic, and the number of facilities operated by both international and local operators is increasing in response to strengthening demand from both domestic and international tourists. Polish hotels are competitively priced and offer a good price-quality ratio of facilities and services.

With the number of hotels expected to remain stable in 2024, growth in retail value sales of lodging is projected to be driven by increased occupancy rates and a rise in the average daily room rate. The latter will be influenced by rising utility costs and an increase in the minimum wage, amid a shortage of labour. Bucharest is poised to lead the lodging market, having already experienced growth in occupancy rates, with expectations to reach pre-pandemic levels in 2024. However. while Bucharest

Lodging (destination) is set to see strong current value growth in Norway in 2024. Norwegian hytte (simple country houses) and camping are seeing brighter opportunities because of hotel rates jumping and lower consumer purchasing power due to the post-pandemic crisis and weakening krone. In 2024, hotel prices increased at a faster rate than inflation and prices increased in neighbouring Nordic countries. In combination with the weakening of the local currency, this makes Norwegian hotels more at

Lodging (destination) is set to see current value growth in Sweden in 2024. There are various new openings of hotels occurring in Sweden, which highlights the further potential for industry development. These new openings will cater for the needs of different types of travellers – from eco-activists and nature lovers to luxury-seekers.

Lodging in the UK is benefiting the most from the strong growth recorded by inbound tourism in 2024, with inbound spending expected to account for almost 70% of net lodging’s value growth during the year. Indeed, domestic spending growth in lodging is driven largely by inflation in the light of the decline in the number of domestic other leisure trips, which is key to lodging sales. The shift to inbound growth is having a different impact, depending on the category, but also on lodging by locati

With inflationary pressures having eased somewhat and travel flows normalising in the wake of the rebound from the pandemic, overall current value sales growth for lodging in Morocco in 2024 is set to fall well below that recorded in 2023. An increase in price-based promotional activity has also contributed to the slowdown as operators attempt to boost occupancy rates amidst softening demand and rising competition. Given the recent spike in living costs worldwide, growth has been further constra

The number of hotel lodging (destinations) In Turkey is expected to grow in 2024, driven by significant investment in new hotel outlets. The acceleration of tourism flows into the country is attractive to hotel developers who are keen to capitalise on the development of tourism. There has been a notable increase in new hotel openings and acquisitions which is contributing to this growth. Wyndham is expanding aggressively in Turkey and aims to expands its hotel network to 129 hotels over 2024, up

Lodging is seeing growth supported by continued demand in Switzerland in 2024, benefitting from traditionally high prices in the country, a strong franc and wealthy clientele. However, inflation is impacting tourist arrivals from the US, a key market; the higher cost of travel to Switzerland compared to domestic options or other destinations is leading some American travellers to reconsider their plans.

As tourism flows continue to grow, the demand for unique lodging experiences is growing in Egypt. Travellers are looking for better quality options, which is driving the development of luxury hotels, such as Steigenberger Alcazar, Adrere Amellal |Siwa, The Chedi El Gouna, The St. Regis, Cairo and Address Marassi Alamein which are ranked as the most luxurious hotels in Egypt. The upcoming period will see a growing emphasis on enhancing the quality of accommodation for tourists. Cairo’s historic S

In 2024, there has been a significant decrease in hotel occupancy rates in Ecuador, reflecting the deep crisis in the lodging (destination) sector in Ecuador. Hotels have suffered from the rising levels of insecurity in the country, which has deterred tourists from visiting the main tourist destinations. The first quarter of 2024 proved to be particularly challenging due to heightened insecurity, which lead President Daniel Noboa's government to issue a decree declaring an internal armed conflic

Compared to many other markets, lodging in Denmark in 2024 is showing remarkable recovery from the impact of COVID-19, having done well in navigating related hardships including inflation and labour shortages. Growth in terms of total lodging value and hotel overnights has continued since high levels in 2022. This is in large part down to the robust performance of the local economy, inbound flows from key markets, and dynamically improved offers including a rush of new hotel rooms built during t

The mid-market hotel segment is seeing substantial growth in Kenya, driven by its affordability for domestic travellers amid high levels of inflation. Given the current economic situation, many Kenyans are opting for more budget-friendly accommodation, and this is fuelling demand in the mid-market segment. Hotels in this category such as Ole Sereni, are performing better than upscale and luxury segments, which are more dependent on international clientele?. This trend is expected to continue as

In 2024, in terms of lodging, city hotels in Greece continue to outperform their seasonal counterparts, driven by the resurgence of city breaks and the recovery of Business and MICE (Meetings, Incentives, Conferences, and Exhibitions) travel following the pandemic. While the tourism sector as a whole experienced a strong year in 2023, city hotels have seen a faster increase in room nights and occupancy rates compared to seasonal hotels. This trend can be attributed to the fact that seasonal hote