STAY WYSE report
Continued growth in youth travel accommodation sector
STAY WYSE is gearing up to release the results of its annual youth travel accommodation (YTA) survey. The survey, now in its sixth year, continues to indicate that the industry has navigated the financial crisis reasonably successfully, with a sustained year-on-year growth in occupancy rates.
Ulises Ortega, Chairman of the STAY WYSE Association, said today, “These results are amazing and show what a vibrant and buoyant market there is in such hard times.” He went on to add, “We have seen some fascinating statistics come through this year, and we can now put actual figures to some of the market trends of occupancy seen in Australia, Europe, and the US.”
The survey of nearly 2,200 YTA establishments worldwide has become particularly important, because it is the only global indicator of the state of the YTA sector, and because it seeks to provide concrete business metrics that allow operators to benchmark their own performance against global and regional standards.
This year’s survey provides data on global and regional level, as well as on 26 countries and 9 cities. This includes: occupancy rates, bed rates, revenues, booking lead times, booking sources, revenues per available bed, and more.
The aims of the study are:
-To collect data for the purpose of identifying trends and making relative comparisons.
-Provide guidance to youth travel accommodation providers in assessing their business performance, cost effectiveness, revenues, and expenses relative to the industry standard.
-To enable youth travel accommodation operators to benchmark their business characteristics in order to develop strategic concepts and optimize business outcomes.
-To help youth travel accommodation providers to develop business plans and help guide investment decisions.
STAY WYSE would like to thank Hostelworld.com, HostelBookers, Hostelling International, and Budgetplaces.com who helped distribute the survey.
Detailed findings of the survey will be released during the STAY WYSE seminar at the World Youth & Student Travel Conference, Wednesday, September 19, at 10:45 am at the Sheraton San Diego Bay Hotel.
For more information about the survey and on becoming a member, please visit www.staywyse.org .