Released By STAY WYSE
First-ever, benchmark study for the youth travel accommodation industry
The Youth Travel Accommodation Industry is a benchmark study that represents an increased sophistication of the youth travel accommodation sector – a US$6 billion/year sector of the youth travel industry.
Commissioned by STAY (Safe Travel Accommodation for Youth) WYSE Association, the report reviews the business operations of the Youth Travel Accommodation (YTA) sector and offers crucial industry standards and metrics for youth hostel operators.
The following results were presented at the annual World Youth Student Travel Conference in Brooklyn, New York in September 2008:
- YTA is closing the price and quality gap with the budget hotel sector.
- Proportion of en-suite rooms has increased to 73% in accordance with market demand
- Most establishments increased their number of beds in 2007 and plan to do so again in 2008.
- The YTA industry is a dynamic market experiencing rapid growth coupled with diversification into Bed & Breakfast, Boutique hostels, and exchange student accommodation
- Most businesses have been established only within the last 10 years.
- The largest YTA operations are found in Europe and Australia.
- Eastern Europe is the largest growth market for youth travel accommodation.
STAY (Safe Travel Accommodation for Youth) WYSE Association was established in 2006 by the world’s leading youth travel accommodation providers to represent the entire global Youth Travel Accommodation sector.
The Association’s mission is to provide safe, affordable, and clean accommodation within a communal atmosphere that encourages youth mobility and cultural understanding.
STAY WYSE is the only not-for-profit industry association bringing together the diverse segments, Hostelling International Network, Independent Hostels, and Institutional Residences, of this significant industry.
STAY WYSE is a sector association of the World Youth Student & Educational Travel Confederation.
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