Global Non-Residential Accommodation Services Market Report 2022

Major 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, 29 Dec. 2021 (GLOBE NEWSWIRE) — Announces Release of “Non-Residential Accommodation Services Global Market Report 2022” –

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 had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $1,479.75 billion in 2026 with a CAGR of 14.2%.

The non-residential accommodation services market includes sales of non-residential accommodation services and related goods by entities (organizations, sole proprietorships, or partnerships) that provide lodging or short-term accommodation to travellers, vacationers and others. There is a wide range of services provided in this market.

Some establishments only offer lodging while others offer meals, laundry services and recreational facilities in addition to lodging. Accommodation establishments are classified in this subsector 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 hiking, rafting, backpacking, and similar activities.

These establishments provide accommodation facilities, such as cabins and fixed campgrounds, and other amenities, such as food services, recreational facilities and equipment, and organized recreational activities. Non-residential accommodation is sold by direct sale and by distributor and the price includes economy, midrange and luxury.

The booking mode includes online bookings, direct bookings and others.

Asia-Pacific was the largest region in the non-residential accommodation services market in 2021. North America was the second largest region in the non-residential accommodation services market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and 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. With tourists sharing their travel information, photographs and videos on social media platforms, people are becoming more aware of tourist destinations and recreational experiences on offer. by different countries of the world.

According to a survey by Stackla, in 2019, 86% of people (and 92% of Gen Z) said they became interested in a specific location after seeing user-generated content on social media. important role in helping countries promote tourism by educating people about their culture.

This growing awareness results in a large number of people traveling overseas and is expected to drive the growth of the non-residential accommodation industry over the forecast period.

Hotels are using technology to improve the guest experience and reduce operating costs. The most important 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 handle guest complaints about housekeeping interruptions.

Hotels are also using robots to deliver amenities to rooms and for other functional purposes. Hotel operators are investing in systems and technologies that can automate processes and personalize the guest experience.

The coronavirus disease (COVID-19) outbreak acted as a massive restraint on the non-residential accommodation services market in 2020 as governments imposed restrictions on domestic and international travel globally, 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 lower economic activity as countries enter a state of ‘lockdown’ and the outbreak has negatively impacted businesses throughout 2020 and until 2021.

However, the non-residential accommodation services market is expected to recover from the shock during the forecast period as it is a “black swan” event and not related to any lingering weaknesses. or fundamentals of the market or the global economy.

The 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 and 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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