Hotels - Switzerland

  • Switzerland
  • In Switzerland, the Hotels market is anticipated to generate a revenue of US$3.22bn in 2024.
  • It is projected to display a CAGR of 1.44% between 2024 to 2028, resulting in a market volume of US$3.41bn by 2028.
  • Furthermore, the number of users in this market is estimated to reach 6.37m users by 2028.
  • In 2024, user penetration is predicted to be 68.2%; however, it is expected to increase to 70.3% by 2028.
  • The ARPU is anticipated to be US$0.53k.
  • By 2028, 95% of the total revenue in this market is expected to be generated through online sales.
  • In terms of generating revenue, United States will be the leading country, with a projected revenue of US$110,500m in 2024, when compared globally.
  • Switzerland's hotel market is known for its luxurious and picturesque mountain resorts, attracting high-end clientele from all over the world.

Key regions: Singapore, Indonesia, India, United States, Europe

 
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Analyst Opinion

Switzerland, known for its picturesque landscapes and luxury lifestyle, has a unique Hotels market that caters to a diverse range of customers.

Customer preferences:
Travelers in Switzerland tend to prioritize high-quality service, stunning views, and proximity to outdoor activities when choosing a hotel. Many visitors are willing to pay a premium for top-notch amenities and personalized experiences, driving the demand for luxury hotels in the country.

Trends in the market:
One prominent trend in the Swiss Hotels market is the increasing popularity of eco-friendly and sustainable accommodations. With growing global awareness of environmental issues, many hotels in Switzerland are implementing green initiatives to attract environmentally conscious travelers. This trend is particularly strong in Switzerland due to the country's commitment to sustainability and conservation. Moreover, there is a rising demand for wellness and spa facilities in Swiss hotels. Travelers are increasingly seeking relaxation and rejuvenation experiences during their stays, leading to a surge in the development of wellness-focused hotels and retreats across the country. This trend reflects the growing importance of self-care and holistic well-being in the hospitality industry.

Local special circumstances:
Switzerland's reputation for safety, cleanliness, and efficiency significantly influences the Hotels market in the country. Travelers often choose Swiss hotels for their reliability and high standards of service, contributing to a steady flow of domestic and international guests throughout the year. Additionally, Switzerland's central location in Europe and well-established transportation infrastructure make it a convenient hub for travelers exploring the region, further boosting the hotel industry.

Underlying macroeconomic factors:
The strong Swiss economy and stable political environment play a crucial role in shaping the Hotels market in the country. With a high standard of living and disposable income, Swiss residents have the means to support the luxury hotel sector and indulge in upscale accommodations. Additionally, Switzerland's status as a global financial center and popular tourist destination ensures a constant influx of business and leisure travelers, sustaining the demand for diverse hotel offerings in the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

Overview

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • User Demographics
  • Global Comparison
  • Hotel Star Rating
  • Methodology
  • Key Market Indicators
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