This report, a market size of the European accommodation sector, continues Skift Research’s effort to size the global travel industry. It builds upon our earlier U.S.accommodation sector market estimates by crossing the pond to Europe. This report covers businesses operating in the accommodation sector within all 44 countries in Europe
Skift Research estimates that the accommodation sector in Europe generated revenues of €238 billion in 2019. As a result of the pandemic, we estimate that the European accommodation sector suffered 45% year-over-year revenue decline in 2020 to €130 billion. The sector grew 14.5% to €149 billion in sales in 2021 and we expect it to grow another 15.6% to reach €172 billion in 2022, still 28% less than 2019 revenues.
The fastest growing segment within that market has been short-term rental accommodations. Short-term rentals represented 10% of the overall industry in 2008, 12% in 2017, and, due to its above-market growth rate, we expect it to reach the 17% mark in 2021. This report includes an analysis of, and estimates for, key hospitality performance indicators such as revenue per available room, average daily rate, and occupancy rate for the entire market, subsectors, and individual countries.
What You'll Learn From This Report
- Europe accommodation sector market size estimates, 2008–2022E
- Europe hotels key performance indicators, 2008–2019
- Europe short-term rentals key performance indicators, 2008–2019
- Europe hotels market shares of 28 key countries, 2019
- Europe hotels key performance indicators for 28 key countries, 2019
- Breakdown of Europe total accommodation by business size, including number of companies, properties, rooms, employees, and revenue