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Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
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Key regions: Vietnam, Indonesia, United Kingdom, Malaysia, Saudi Arabia
The Hotels market in Malaysia has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Malaysia are increasingly looking for unique and personalized experiences when choosing hotels. They prefer accommodations that offer cultural immersion, eco-friendly practices, and local cuisine to enhance their overall stay.
Trends in the market: One of the notable trends in the Malaysian Hotels market is the rise of boutique hotels and luxury resorts that cater to the growing demand for experiential travel. These properties focus on providing guests with authentic Malaysian hospitality and immersive experiences, setting them apart from traditional chain hotels.
Local special circumstances: Malaysia's diverse cultural heritage and natural beauty play a significant role in shaping the Hotels market. The country's rich history, vibrant festivals, and stunning landscapes attract a wide range of domestic and international tourists, driving the demand for unique accommodation options.
Underlying macroeconomic factors: The growth of the Hotels market in Malaysia can also be attributed to the country's strong economic performance, government initiatives to boost tourism, and improving infrastructure. With increasing disposable incomes and a growing middle class, more Malaysians are opting for staycations and luxury getaways, fueling the expansion of the hospitality sector.
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.Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
Lun - Ven, 9:00 - 18:00 h (EST)