Global Non-Residential Accommodation Services Market Report 2022
Leading companies in the non-residential accommodation services market include Marriott International, MGM Resorts International, Rewe Group, Ctrip. Com International Ltd, Intercontinental, Hilton Worldwide Holdings, Accor Hotels and TUI Group and Shanghai Jin Jiang International Hotels (Group) Company Limited.
New York, December 29, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Non-Residential Accommodation Services Global Market Report 2022” – https://www.reportlinker.com/p06193680/?utm_source=GNW
The global non-residential accommodation services market is expected to grow from $ 719.93 billion in 2021 to $ 869.81 billion in 2022 at a compound annual growth rate (CAGR) of 20.8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 1,479.75 billion in 2026 at a CAGR of 14.2%.
The non-residential accommodation services market comprises the sales of non-residential accommodation services and related goods by entities (organizations, sole proprietorships or partnerships) that provide short-term accommodation or accommodation to travelers, vacationers. and others. services provided in this market.
Some establishments provide accommodation only, while others provide meals, laundry services and recreational facilities, as well as accommodations. Accommodation establishments are classified in this sub-sector even if the provision of complementary services generates more income.
The types of complementary services offered vary from one establishment to another.
The main types of non-residential accommodation are hotels and other travel accommodation, camping and caravanning, and non-residential accommodation for students and workers. and fishing camps, and outdoor adventure retreats, which offer horseback riding, whitewater rafting, hiking and similar activities.
These establishments provide accommodation facilities, such as cabins and fixed campsites, and other amenities, such as food services, recreational facilities and equipment, and organized recreational activities. Non-residential accommodation is sold by direct sales and distributor and the price includes economy, mid-range and luxury.
The booking method includes online bookings, direct bookings and others.
Asia-Pacific was the largest region in the non-residential housing services market in 2021. North America was the second largest region in the non-residential housing services market.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The increasing use of social media and access to mass media is having a positive impact on the tourism and non-residential accommodation industries. As tourists share their travel information, photographs and videos on social media platforms, people are increasingly aware of the tourist destinations and the recreational experiences offered. by different countries around the world.
According to a survey by Stackla, in 2019, 86% of people (and 92% of Gen Z) said they were interested in a specific place after seeing user-generated content on social media. In addition, the mass media play an important role in helping countries promote tourism by educating people about their culture.
This growing awareness drives a large number of people traveling abroad and is expected to drive the growth of the non-residential accommodation industry during the forecast period.
Hotels use technology to improve the guest experience and reduce operating costs. The most prominent 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 and secure process. Infrared sensors are used in hotels to address guest complaints involving housekeeping interruptions.
Hotels also use robots to deliver amenities to rooms and for other functional purposes. Hoteliers invest in systems and technologies capable of automating processes and personalizing the guest experience.
The coronavirus disease (COVID-19) outbreak acted as a massive restriction on the market for non-residential accommodation services in 2020 as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these facilities. COVID-19 is an infectious disease with flu-like symptoms, including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in a decline in economic activity with countries entering a state of ‘containment’ and the outbreak negatively impacting businesses throughout 2020 and until 2021.
However, the market for non-residential hosting services is expected to recover from the shock during the forecast period as this is a ‘black swan’ event and not related to lingering weaknesses. or fundamentals of the global market or economy.
Countries Covered In The Non-Residential Accommodation Services Market Report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic , Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria , Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
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