Market Size of United States Online Accommodation Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 47.10 Billion |
| Market Size (2029) | USD 72 Billion |
| CAGR (2024 - 2029) | > 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Online Accommodation Market Analysis
The United States Online Accommodation Market size is estimated at USD 47.10 billion in 2024, and is expected to reach USD 72 billion by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).
The online accommodation market in the United States is experiencing a period of growth due to the prevalence of mobile apps and websites, the growth of businesses, and the implementation of modern, user-friendly portals by key market participants. Furthermore, the increasing disposable income and the country's vast tourism industry are further aiding the market's development.
Hotels' revenue is determined by the average daily rate and the number of rooms occupied, as well as the availability of food and beverages. Technology has had a significant impact on the online accommodation sector in recent years, with the number of users expected to grow by over 10 million in the United States from 2017 to 2022. The Accommodation market is keeping its pole position in the Travel and Tourism Segments when it comes to revenue and user penetration. For Asian Tourists, accommodations are the most preferred service in Travel and Tourism.
According to a report, international hotel bookings have experienced a slowdown in the fourth quarter of 2022, in the United States compared to the levels prior to the pandemic. The percentage of hotel reservations made online through an Online Booking Transfer (OBT) linked to HotelHub remained significantly elevated during the quarter in comparison to pre-COVID-19 booking trends. In the United States, around 75% of reservations were made online, which was significantly higher than the previous quarter.
