Despite hotel prices increasing by approximately 40-50% over the past three years, European travelers continue to prefer hotels over other types of accommodation. Recent data from Stocklytics reveals that more than 60% of travelers from Europe’s leading economies opt for hotels.
Spanish and British Travelers Lead in Hotel Preference
Currently, staying in a hotel costs about 50% more than it did three years ago, with travel expenses also soaring due to inflation. Contrary to expectations, this has not deterred European travelers from spending more on hotels. A recent Booking.com survey highlights that Europeans favor hotels significantly over other accommodations.
The survey indicates that, on average, 60% of travelers from Europe’s top five economies—Germany, the United Kingdom, France, Italy, and Spain—choose hotels for their overnight stays. Notably, Spanish travelers show the highest preference, with 70% opting for hotels. This preference might be due to relatively lower accommodation prices in Spain compared to other Western European countries, although actual costs can vary based on location, season, and accommodation type.
British travelers follow closely with 64% choosing hotels, while Germany ranks third with 62%. Italy and France come in at 58% and 48%, respectively.
The survey also revealed that apartments are the most popular alternative to hotels for Germans, Spaniards, and many others, with around 25% of respondents preferring this option. Italians, however, lean more towards bed & breakfasts. Vacation homes have a smaller share, with about 14% of respondents from these five countries choosing them.
European Hotel Spending Set to Reach $114 Billion in 2024
With the strong preference for hotels among European travelers, the hotel industry in Europe is poised for a record-breaking year. According to Statista Market Insights, Europeans are expected to spend $114 billion on hotels in 2024, an increase of $13 billion from the previous year.
The number of hotel users in Europe is projected to exceed 287 million this year, up nearly 15 million from 2023. This number is anticipated to approach 340 million by the end of the decade.
