Bed & Breakfast & Hostel Accommodations in the US
The Bed and Breakfast and Hostel Accommodations industry has expanded over the five years to 2019 to match consumer trends. Two age groups, baby boomers and millennials, have contributed to the industry's success. As individuals in the former group reach retirement age, they are more likely to spend their savings on travel and have historically made up bed and breakfasts' most loyal customer base. The industry is characterized by increasing competition, particularly to corner the growing millennial market. As a result, the industry has experienced an increase in the number of luxury accommodations, equipped with state-of-the-art technology. Over the five years to 2024, industry revenue is expected to grow more slowly than during the current period. This is largely due to increased external competition from alternative accommodations, such as private home rentals. The increasing popularity of Airbnb Inc. has had adverse effect on industry operators that are unable to compete with other inexpensive listings on the platform.
This industry comprises establishments that are primarily engaged in providing short-term lodging. Hotels, motels and casino hotels are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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