Soaring Demand Set to Propel Bed And Breakfast Accommodation Market to $7.32 Billion by 2029

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What Is the Expected CAGR for the Bed And Breakfast Accommodation Market Through 2025?
The market size for bed and breakfast accommodations has seen a slight increase in recent years, and it is projected to further grow from $6.34 billion in 2024 to $6.38 billion in 2025, reflecting a compound annual growth rate (CAGR) of 0.6%. Recent growth can be attributed to a steady expansion in budget-friendly accommodations and such platforms managed to capture a significant proportion of budget accommodation customers. This is mainly targeted towards consumers who prefer a more local travel experience. The demand and growth of bed and breakfast accommodations are also driven by the expanding middle class population who have a higher disposable income.

What's the Projected Size of the Global Bed And Breakfast Accommodation Market by 2029?
The market size for bed and breakfast accommodation is anticipated to consistently rise in the years to come, with an estimated value of $7.32 billion in 2029, showcasing a compound annual growth rate (CAGR) of 3.5%. The predicted expansion during the forecast period could be due to an increasing appetite for unique and authentic travel experiences, an increase in domestic and regional tourism, a surge in tourism in general, a growing trend towards eco-friendly and sustainable travel, and a heightened interest in experience-based travel. Key trends for the forecast period include the introduction of new health and safety precautions, touchless check-ins, improved hygiene procedures, measures to encourage social distancing, and inventive services.

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Top Growth Drivers in the Bed And Breakfast Accommodation Industry: What's Accelerating the Market?
The growth of the bed and breakfast accommodation market is anticipated to be driven by the upsurge in tourism. People's tendency to travel and stay in locations outside of their typical surroundings for reasons such as leisure, commerce, or other engagements, for a shorter duration, defines tourism. An overall increase in tourism is being witnessed due to increments in disposable income, enhanced international connectivity, easy accessibility to travel data, and an escalating appetite for unique cultural encounters and leisure pursuits. Bed and breakfast lodgings contribute to tourism growth by presenting unique, personalized boarding experiences that cater to travelers looking for local charisma and hospitality. For example, data from the Office of National Statistics, a UK government department, recorded an increase in visits from foreign tourists to the UK, with 3.0 million in June 2022, an increase from 2.8 million in May 2022. Consequently, the upswing in tourism is fuelling the expansion of the bed and breakfast accommodation market.

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What Trends Will Shape the Bed And Breakfast Accommodation Market Through 2029 and Beyond?
To gain a competitive advantage in the bed and breakfast accommodation market, key companies are focusing on the creation of innovative services such as the Express Start Breakfast. This service from the hotel offers a quick, convenient meal with a range of hot and cold options, designed for guests who need a satisfying on-the-go breakfast. For instance, in April 2023, the UK-based hospitality company, InterContinental Hotels Group, initiated the Holiday Inn Express Riyadh, marking the first Holiday Inn Express in Saudi Arabia. The hotel will incorporate modern room designs complete with smart technology, including smart TVs and high-speed Wi-Fi, to enhance the guest experience. The complimentary Express Start Breakfast will offer a flexible dining experience, meeting the needs of today's travelers. The hotel aims to provide a smooth, efficient stay, with features like fast check-in and amenities such as power showers for quick recharging of guests.

What Are the Main Segments in the Bed And Breakfast Accommodation Market?
The bed and breakfast accommodation market covered in this report is segmented -

1) By Type: Historic Homes Countryside Retreats Coastal Properties
2) By Booking Type: Online Bookings Direct Bookings
3) By Traveler Type: Domestic Solo Group Or Family

Subsegments:
1) By Historic Homes: Victorian Homes Colonial-Style Homes Boutique Inns
2) By Countryside Retreats: Farm Stays Vineyard B And Bs Mountain Lodges
3) By Coastal Properties: Beachfront Inns Seaside Cottages Lakefront B And Bs

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Which Top Companies are Driving Growth in the Bed And Breakfast Accommodation Market?
Major companies operating in the bed and breakfast accommodation market are Marriott International Inc., MGM Resorts International, Radisson Blu Hotels, Rosewood Hotels and Resorts, Hilton Worldwide Holdings, Hyatt Hotels Corporation, Four Seasons Hotels and Resorts, AccorHotels, InterContinental Hotels Group, Best Western International, Shangri-La Hotels, Choice Hotels International, Wyndham Hotels & Resorts, Red Roof Inn, B&B Hotels, The Leading Hotels of the World, Comfort Inn, Relais & Châteaux, Travelodge Hotels, La Quinta Inns & Suites, Quality Inn, Econo Lodge, Microtel Inn & Suites, Knights Inn

Which Regions Will Dominate the Bed And Breakfast Accommodation Market Through 2029?
Asia-Pacific was the largest region in the bed and breakfast accommodation market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the bed and breakfast accommodation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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