As the world recovered from the massive economic instability, the middle-class diasporas emerged from the meadows to become the major economic group across the globe. This uprise of the middle-class community around the world created the urge for getting affordable accommodations everywhere. As the demand for affordable accommodation is rising, the number of budget hotels is also increasing steeply. This sudden popularisation of the term budget hotels is not limited to any country or continent; rather it is a complete international phenomenon and this has truly revolutionised the travelling sector.
But there is a lot more behind this growth than what meets the eye. The first thing that is fuelling the growth of the affordable budget hotels is the difference in the requirements of the people in different regions. For example, the major problem that the Chinese people had faced for ages is that the major European hotels do not accept their credit cards from the largest Chinese credit card provider, Union Pay. But as more and more Chinese people are coming to Europe, the biggest budget hotel brands are getting into partnership with the Union Pay thus enabling the Chinese tourists to use their cards to pay for their accommodations rather than paying in cash. It turns out that this master strategy has been proving very profitable for the hotels which, in turn, are increasing the number of budget hotels in Europe.
Similarly, Treeboo hotels are one of the largest chains of hotels in India and it was recently announced that they are getting into a partnership with Hotelbids. This will generally boost the number of hotels offered by Hotelbids across the country; thereby, increasing the number of budget hotels across the major cities and tourist spots in India.
Moreover, the rapid growth of the worldwide economy is also fuelling the growth. It must be remembered that the increase in gross revenue increases the growth of a commodity. It is also well-known that a strong market demand coupled with a free trading market always increases the demand by manifolds. Hence, it is no surprise that with the rapidly growing economy, market demand and an increase in the revenue generation, the growth of budget hotels is getting skyrocketed.
However, this growth of budget hotels has also made the accommodations highly affordable for the common masses. Not everyone has the capability to afford a luxurious suite in a renowned hotel during their trips, so the budget hotels are the most suitable choice as per as the general masses are concerned. So, in a way, it can be said that this growth is happening for the best but how it turns out remains to be seen. You can enjoy your holidays at a much less cost in a way that you can never think about.