Global Non-Residential Accommodation Services Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Non-Residential Accommodation Services Market Report by The Business Research Company covers non-residential accommodation services market drivers and restraints, non-residential accommodation services market size, major players, and the impact of COVID-19 on the non-residential accommodation services market.
The non-residential accommodation services market consists of sales of non-residential accommodation services and related goods by entities (organizations, sole traders or partnerships) that provide lodging or short-term accommodation for travelers, vacationers, and others. There is a wide range of services provided in this market. Some establishments provide lodging only, while others provide meals, laundry services, and recreational facilities, as well as lodging. Lodging establishments are classified in this subsector even if the provision of complementary services generates more revenue. The types of complementary services provided vary from establishment to establishment. The non-residential accommodation services market is segmented into hotel and other travel accommodation, camping and caravanning and students and workers non-residential accommodation.
Increasing use of social media and access to mass media is positively impacting the tourism and non-residential accommodation industries. With tourists sharing their travel information, photographs and videos on social media platforms, people are increasingly becoming aware of the tourist destinations and recreational experiences offered by different countries around the world.
The global non-residential accommodation services market is expected to grow from $722.72 billion in 2020 to $857.61 billion in 2021 at a compound annual growth rate (CAGR) of 18.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1125.06 billion in 2025 at a CAGR of 7%.
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Some non-residential accommodation services market trends include hotels using technologies to improve customer experience and reduce operational costs. The most significant trends include the use of near field communication (NFC) technology, infrared technologies, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and can personalize the experience for guests.
Global non-residential accommodation services market segments include:
1) By Type: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-residential Accommodation.
2) By Price Point: Economy, Mid-Range, Luxury.
3) By Channel: Direct Sales, Distributor.
4) By Mode of Booking: Online Bookings, Direct Bookings, Others.
Subsegments Covered: Hotel And Motel, Casino Hotels, Bed And Breakfast Accommodation, All Other Traveller Accommodation, RV (Recreational Vehicle) Parks And Campgrounds, Recreational And Vacation Camps, Dormitories, Off Campus Establishments, Migrant Workers’ Camps
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, LARGEST REGION accounts for the largest global non-residential accommodation services market share.
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The Non-Residential Accommodation Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides non-residential accommodation services market overviews, analyzes and forecasts market size, share, non-residential accommodation services market players, non-residential accommodation services market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The non-residential accommodation services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Non-Residential Accommodation Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Marriott International, Hilton Worldwide, Wyndham Corporation, Hyatt Hotels Corporation, Four Seasons Hotels & Resorts.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Non-Residential Accommodation Services Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Non-Residential Accommodation Services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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