The Global Hostel Marketplace 2016-2020 Second Edition
Hostels have long been identified with young travelers seeking a cheap place to lay their heads and, perhaps, the chance to socialize with other youthful adventurers. But while hostel travelers do tend to be budget-conscious, they also represent a desirable demographic, with significantly higher average annual trip spend and frequency than the overall travel population. And although hostels are among the least expensive lodging options available, the hostel segment is evolving to keep pace with a rapidly changing global travel market and rising consumer expectations.
In 2015, Phocuswright undertook a major a research project to better understand the global hostel market. That research, published in 2016 as The Global Hostel Marketplace 2014-2018 ("First Edition"), identified sweeping changes taking place in the hostel landscape. From the rise of hostel chains and design-focused experiences to digital-centric booking and a planned increase in private rooms, hostel operators are adapting to the expectations of their guests.
The current research tracks continuing developments in the global hostel market. The Global Hostel Marketplace 2016-2020 Second Edition ("Second Edition") provides hostel operators with fresh insight into the current state of the industry and benchmarks for assessing their own practices and performance.
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