Over the past few years, the hotel industry has rapidly changed. Travelers are after more affordable and authentic options when booking a place to stay. And while this industry is still growing at 28% YOY, the growth of large hotel groups is decelerating. Major players like Marriott-Starwood [MAR], Hilton [HLT], Hyatt [H], [IHG], Choice Hotels [CHH], Wyndham [WYN], Best Western and La Quinta [LQ] are competing with new hotel brands, popular vacation rental providers, and online travel agencies (OTA).
Based on 1010data's findings, the two biggest challenges currently facing the hotel industry are:
- Rise of boutiques and Airbnb
- Growth of OTA bookings
Using online email receipts, this report analyzes the shift in traveler preferences between hotel groups, boutiques and Airbnb, as well as shifts between booking direct versus through OTAs. Growth rates, shifts in share, and lost customer analyses are all included in this report.
Click here to access the full analysis.