The Canada travel accommodation market has experienced substantial growth due to several reasons, such as more people going on trips, better transportation and buildings, and travelers having increased disposable income. In Canada travel accommodation market, there are many different types of places to stay, such as hotels, motels, vacation rentals, and hostels. A key driver for the Canada travel accommodation market is the thriving tourism industry in the country which is boosting in significant rate. The escalating number of international tourists, notably from countries such as China and India, has fueled the demand for accommodations nationwide.
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In addition, advancements in technology and the emergence of online travel platforms have played a crucial role in the growth of the Canada travel accommodation. Online travel agencies and booking websites have simplified the accommodation search and reservation process, enhancing convenience and transparency. However, the market does face challenges, such as the seasonal nature of tourism.
The Canada Travel Accommodation market is segmented into type, application, price point, mode of booking and region. The type segment comprises hotel, hostel, resort, vacation rental, and others. The applications covered in the study include leisure, professional, and others. On the basis of price point, the market is categorized into economy, mid-range, and luxury. Depending on mode of booking, it is segregated into online travel agency, hotel website, and others.
The major players in the travel accommodation industry that have been analyzed in this report include AirBnB, Expedia, Trip Advisor, VRBO, Hotels.com, Choice Hotels, Canadian Tourism Commission, Tourism Vancouver, Tourism Toronto, Travel Alberta.
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Key findings of the study
- By type, travel accommodation market analysis shows that the vacation rentals segment is expected to grow at a significant CAGR of from 2021 to 2031.
- By price point, the luxury travel accommodation segment is expected to grow at the fastest significant CAGR of during the travel accommodation market forecast period.
- By mode of booking, the online travel agency is expected to grow at a significant CAGR of from 2022 to 2031.
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