Over 60% of Travelers from Europe`s Top Economies Choose Hotels for Accommodation

Although hotel prices have skyrocketed by roughly 40-50% in the past three years, with some regions and high-demand areas seeing even bigger increases, that hasn`t affected European travelers who still prefer hotels over other accommodations.

According to data presented by Stocklytics.com, more than 60% of travelers from Europe`s top economies choose hotels for accommodation.

Spanish and British Travelers Top in Hotel Usage, with 70% and 62% of them Choosing Hotels for an Overnight Stay

Today, staying in a hotel costs an average of 50% more than just three years ago, and travel expenses have skyrocketed due to inflation. And while some might think that would have caused the number of travelers or travel spending to plunge, the truth is people are traveling and spending on hotels more than ever. According to a recent Booking.com survey, this mainly applies to Europeans, who prefer hotels much more than any other accommodation.

According to the survey, an average of 60% of travelers in Europe’s top five economies, Germany, the United Kingdom, France, Italy, and Spain, chose hotels for their overnight stay, with significant differences between them. For instance, Spanish travelers were most likely to choose a hotel over any other accommodation choice, with 70% of them staying in hotels when traveling. This might have to do with the accommodation prices in Spain being generally lower than in other Western European countries. However, the actual cost depends on location, season, and accommodation type.

Britons follow closely, with a high 64% of travelers who stay in hotels. Germany ranks third in this category, with 62% of respondents choosing hotels over other types of accommodation. Italy and France follow with 6’% and 48%, respectively.

The Booking survey also showed that for Germans, Spaniards, and most other nationalities, staying in an apartment was the leading alternative to a hotel, with an average of 25% of respondents choosing this type of accommodation. On the other hand, for Italians, the next most popular alternative was a bed & breakfast. Vacation homes got a much lower usage share, with an average 14% share among respondents from the five countries.

Europeans Will Spend $114 Billion on Hotels in 2024, $13 Billion more than Last Year

With most travelers from Europe`s top economies choosing hotels over other accommodations, the European hotel industry is set to hit a new record revenue and users this year. According to a Statista Market Insights survey, Europeans will spend $114 billion on hotels in 2024, or $14 billion more than last year.

With the number of hotel users steadily rising, the European hotels segment is expected to count over 287 million users this year, almost 15 million more than in 2023. By the end of the decade, this figure is projected to climb to nearly 340 million.