Budget Hotels Market 2017 Global Analysis, Opportunities and Forecast to 2020
The global budget hotel market industry grew in 2015 due to demand for affordable accommodation, with an increase in the middle-class population in Asia-Pacific and European regions. The US ranked first in the budget hotels segment with room supply of 874,591 in 2015, followed by the UK and China, while Malaysia was the fastest-growing market at a CAGR of 12.2%. In terms of occupancy rate, Asian countries led from the front with Hong Kong (87% in 2015) at the top,...
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