Global Non-Residential Accommodation Services Market Report 2022 – Market Forecast, Trends And Strategies
10 Jan, 2022
The global non-residential accommodation services market size 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 in the non-residential accommodation services market 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 non-residential accommodation services market is expected to reach $1,479.75 billion in 2026 at a CAGR of 14.2%.
What is the Global 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.
Get a Sample of the global non-residential accommodation services market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5476&&type=smp
What drives the Global Non-Residential Accommodation Services Market?
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. According to a survey by Stackla, in 2019, 86% of people (and 92%of Gen Z) said they’ve become interested in a specific location after seeing user-generated content in social media. Also, the mass media is playing an important role in helping countries promote tourism by educating people about their culture. This rising awareness is resulting in large number of people travelling abroad and is expected to drive growth in the non-residential accommodation industry during the forecast period.
Get the full global non-residential accommodation services industry report here:
https://www.thebusinessresearchcompany.com/report/non-residential-accommodation-services-global-market-reportGlobal Non-Residential Accommodation Services Market Segments
The global non-residential accommodation services market is segmented:
By Type: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-Residential Accommodation
By Price Point: Economy, Mid-Range, Luxury
By Channel: Direct Sales, Distributor
By Mode Of Booking: Online Bookings, Direct Bookings, Others
By Geography: The regions covered in the non-residential accommodation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Non-Residential Accommodation Services Global Market Report 2022provides market size and growth forecasts for the global non-residential accommodation services market, global non-residential accommodation services market share, non-residential accommodation services market segments and geographies, non-residential accommodation services market competitive landscape including 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.
Global Non-Residential Accommodation Services Industry Playersinclude Marriott International, MGM Resorts International, Rewe Group, Ctrip.Com International Ltd, Intercontinental, Hilton Worldwide Holdings, Accor Hotels, TUI Group and Shanghai Jin Jiang International Hotels (Group) Company Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.