Despite a significant rise in hotel prices, estimated at approximately 40-50% over the last three years, with certain regions and high-demand locations experiencing even steeper hikes, European travelers continue to favor hotels over alternative lodging options. Recent statistics indicate that over 60% of travelers from Europe’s leading economies opt for hotels as their preferred accommodation.
Currently, the average cost of staying in a hotel has increased by 50% compared to three years ago, with travel expenses surging due to inflation. Contrary to expectations that such price hikes would lead to a decline in travel or spending, the reality is that individuals are traveling and investing in hotel accommodations more than ever before. A recent survey indicates that this trend is particularly pronounced among Europeans, who show a marked preference for hotels over other types of lodging.
The survey reveals that, on average, 60% of travelers from Europe’s leading five economies—Germany, the United Kingdom, France, Italy, and Spain—opt for hotels for their overnight stays, although there are notable variations among these countries. For example, Spanish travelers exhibit the highest inclination towards hotel stays, with 70% choosing hotels as their preferred accommodation. This preference may be influenced by the generally lower accommodation prices in Spain compared to other Western European nations. Nevertheless, the actual costs are contingent upon factors such as location, season, and the type of accommodation selected.
A significant sixty-four percent of travelers from Britain prefer to stay in hotels, closely followed by Germany, where 62% of respondents opt for hotel accommodations. Italy and France follow with 56% and 48%, respectively.
The survey further revealed that for Germans, Spaniards, and many other nationalities, apartments are the most favored alternative to hotels, with an average of 25% of participants selecting this option. Conversely, Italians show a preference for bed & breakfast establishments as their next most popular choice. Vacation homes, however, are less frequently chosen, with an average usage rate of only 14% among respondents from the five countries surveyed.
A significant trend among travelers from Europe’s leading economies is their preference for hotels over alternative lodging options, positioning the European hotel sector to achieve unprecedented revenue and user numbers this year. As indicated by a survey, Europeans are anticipated to allocate $114 billion for hotel accommodations in 2024, representing an increase of $14 billion compared to the previous year.
The continuous growth in hotel patronage suggests that the European hotel segment is likely to welcome over 287 million guests this year, which is nearly 15 million more than in 2023. Projections indicate that by the end of the decade, this number could approach 340 million.
