Accommodation bookings by international traveller rose by over a third in 2023 compared to a year earlier, according to a new report.
RoomRaccoon’s Unpackaging Europe’s Independent Hotel Industry Trends report details the trends that have defined the hotel industry in 2023, considering performance data from independent hotels in key source markets across Europe.
Go deeper with GlobalData
It identified a 37% increase in bookings by international travellers since 2022, with more opting for longer stays at aparthotels, Airbnbs and hotels equipped with workspaces.
Domestic travel remains the main reason for hotel bookings in Europe, making up 43% of reservations in 2023. However, this represents a 3% decrease from 2022. Meanwhile, international travel has seen a “resurgence”, according to the report, constituting 39% of bookings in 2023 and driving the overall growth in bookings across the industry.
The report also found that the average occupancy rate in 2023 increased by 10% compared to 2022 levels, and that revenue per available room increased by 20%, leading to the conclusion that “Europe is and continues to be a popular travel destination for globe trotters.”
The report noted that summer was Europe’s most popular season, as expected, but that the 2023 peak was significant because of its unusual length. Spring saw occupancy rates of 51% ahead of rates of 54% in August (above the 49% occupancy rate of August 2022). The trend continued into September and October, hitting “a notably high occupancy rate of 63%.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFigures analyzed by GlobalData, Hotel Management Network’s parent company, reveal that Europe has been an increasing area of focus for travel and tourism companies. Mentions of Europe in company filings within the industry rose by 25.3% from 2016 to 2022.
The interest in Europe has been steadily growing amongst travel and tourism companies, despite a dip in mentions in 2020 during the coronavirus pandemic. Of that, RoomRaccoon’s report notes: “The Covid-19 pandemic significantly affected the travel industry. However, there’s a positive outcome: direct bookings are maintaining momentum and holding their ground against online travel agency bookings.”
Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.
