Chain Express Hotel Market Size, Share, Growth, and Industry Analysis, By Type (Budget, Economy, Midscale, Premium & Luxury), By Application (Domestics & Overseas), and Regional Insights and Forecast to 2032

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CHAIN EXPRESS HOTEL MARKET OVERVIEW

The Chain Express Hotel Market size was valued at approximately USD 128.5 billion in 2023 and is expected to reach USD 209.04 billion by 2032, growing at a compound annual growth rate (CAGR) of about 6.5% from 2023 to 2032.

This Express Hotel assures guests affordable and comfortable lodging if they are seeking accommodation. Preserving on services such as meals and clean and comfortable rooms, which are the main necessities of a traveller, the hotel chain meets travellers’ needs appropriately. This Express Hotel may be perfect for business people and tourists because of the wide array of features, such as cosy accommodations, wireless Internet connection, and simple food outlets. 

COVID-19 IMPACT

Chain Express Hotel Industry Had a Negative Effect due to Restrictions on Travel

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

This study noted that COVID-19 had a catastrophic effect on this market. Measures such as restrictions on travel, lockdowns, and economic unrest considerably reduced the number of people seeking hotel services. The tremendous cross-sectional social impact of COVID-19 imposed many hotel closures and limited operation that led to numerous unemployment and severe hotel industry financial challenges. Furthermore, the pandemic led to the adoption of measures that enhanced the security of the guests and other individuals in the hotels but ended up in rising operational costs to the extent that they may discourage clients.

LATEST TREND

Digitisation to Propel the Market Growth

The growth of this market has revived at the moment due to the problems that arose during the COVID-19 pandemic. More and more people are preferring to travel, and the economic conditions globally call for cheap accommodation facilities. Some trends within the market include digitisation and going contactless with check-in and check-out processes; increased cleaning of the rooms to meet the current sanitary laws; and freelance bookings that are adaptive to changes in a guest’s agenda. 

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CHAIN EXPRESS HOTEL MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Budget, Economy, Midscale, Premium & Luxury

• Budget: They provide fundamental comforts of life and are cheap to accommodate, hence suit the low-budget clients.

• Economy: Like the case of budget hotels, service facilities in economy hotels are basic with a relatively low-priced offered service but can offer somewhat more services and facilities.

• Midscale: Midscale hotels are preferred by a broader clientèle since they provide value for the money and comfort in the services they provide. They can consist of factors such as on-site restaurants and cafeterias, fitness facilities, swimming pools, etc.

• Premium: A luxury lodge is a sub-segment of the hospitality industry that offers luxury and high-end services to travellers. Some of the common bundled services may include spas, concierge services, and speciality dining services.

• Luxury: Super luxury is the highest tier of luxury hotels with high-end services, refined service, privilege location, and oftentimes, unique services. They are favourable to choosy consumers who can afford the best experience at a high cost.

By Application

Based on application, the global market can be categorized into Domestics & Overseas

• Domestic: They often serve the domestic tourists moving within a country, easy to access, and with products that appeal to that nation’s population.

• Overseas: These hotels are definitely for overseas visitors since they have been fitted with facilities to suit the guests from diverse areas and regions. They may contain services like employees who speak different languages, money-changing services, and information on places of interest.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

Growing Demand for Affordable Accommodation to Expand the Market

A factor in the Chain Express Hotel market growth is the Growing Demand for Affordable Accommodation. This market is driven by the growing demand for travellers, both domestic and overseas, in search of cheap and accessible places to stay.

Economic Growth and Rising Disposable Income to Advance the Market

Improved economic returns and higher per capita income mean that people are travelling more to attend to business and/or leisure-related issues, thus the need to find accommodation, including cheap and lower brands like hotels.

Restraining Factors

Growth of Other Forms of Accommodations to Potential Impediments on this Market

A brake for the Chain Express Hotel Market share is the growth of other forms of accommodations that take a big portion of the related market segment. Web sites like Airbnb and Villas for Rent by Owner have emerged over the years and often provide more interesting and cheaper offers than hotels. Similarly, this competition can exert pressure on these Express Hotels to distinguish them and offer good value propositions to clients.

Opportunity

Green Tourism to Create Opportunity in this Market

Another opportunity factor that this market is likely to experience is the increased popularity of green tourism. Since humanity tends to understand the problem of harming the environment, tourists’ requirements rise to choose environmentally friendly hotels. This is an opportunity that these Express Hotels can use to get into the act through an energy-efficient program, waste minimisation, and environmentally friendly material usage.

Challenge

Technological Challenge to Pose Potential Challenge for this Market

The technological challenge is considered to be one of the most pressing challenges in this market. An increasing importance of OTAs and the online booking systems has changed the way people search and book a hotel room. It means that hotels have to integrate with changes, and they have to invest in technology, work harder on their online reputation, and also provide reasonable prices through these channels. 

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CHAIN EXPRESS HOTEL MARKET REGIONAL INSIGHTS

• North America 

North America is a developed market that has established hotel brands; it provides industry trends. The requirements and advanced technologies developed in North American hotels, or advanced check-ins and sophisticated property management systems, are transferred to other regions. Due to the fact that the United States Chain Express Hotel Market is the largest economy in the world, it plays a crucial role in the hotel market around the globe. Different trends of travelling in America influence the rest of the world, and localisation of key hotel brands in the United States can promote development and rivalry in another country. 

• Europe

Europe is another big market for this industry, as it possesses a variety of cultural behaviours and travel routines. Many European operators, therefore, have developed a particular focus on emerging markets, thus promoting a good image of quality and service in these areas. 

• Asia

Asia is effectively moving towards earning a prominent position for this industry due to the progression of economic development and travel. Many Asian countries, beginning with China and followed by India, boast of a high population of domestic tourists while at the same time increasing their appeal to foreign travellers. This growth poses a great opportunity for these Express Hotels since they can enter and establish themselves more in that region.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation

This market key industrial players have a larger influence in terms of brand image, market size, and hence, the innovation they bring in the market. It is always beneficial, especially for cases where the brands are already well-settled in the industry; they can be able to attract more travellers due to reputation. It also granted them more leverage with suppliers, possibly reducing cost by gains in buying power. Furthermore, these players tend to allocate funds for research and development and put into the market new technologies or services that may define the directions of further development. 

List of Top Chain Express Hotel Companies

• InterContinental Hotel Group (England)
• Wyndham Hotel Group (U.S.)
• Marriott International (U.S.)
• Hilton Worldwide (U.S.)
• Accor Group (France)

KEY INDUSTRY DEVELOPMENTS

2024: Recently, Marriott International revealed its plans for the expansion of this Express Hotel, and particularly the company is keen on markets including China and India within Asia. The company plans to take advantage of a relatively new appetite by travellers to book cheap and accessible accommodation in these locations with a known brand identity and efficient management skills. It is believed that this expansion will catalyse growth and development in the market.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The Chain Express Hotel market is poised for a continued boom pushed by increasing health recognition, the growing popularity of plant-based diets, and innovation in product services. Despite challenges, which include confined uncooked fabric availability and better costs, the demand for gluten-unfastened and nutrient-dense alternatives supports marketplace expansion. Key industry players are advancing via technological upgrades and strategic marketplace growth, enhancing the supply and attraction of this device. As customer choices shift towards healthier and numerous meal options, this market is expected to thrive, with persistent innovation and a broader reputation fueling its destiny prospects.