Dublin, June 24, 2021 (GLOBE NEWSWIRE) -- The "Non-Residential Accommodation Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global non-residential accommodation services market as it emerges from the COVID-19 shut down.
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 $1125.06 billion in 2025 at a CAGR of 7%.
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Where is the largest and fastest growing market for the non-residential accommodation services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Non-Residential Accommodation Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider non-residential accommodation services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The non-residential accommodation services market section of the report gives context. It compares the non-residential accommodation services market with other segments of the hospitality market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, non-residential accommodation services indicators comparison.
Major companies in the non-residential accommodation services market include Marriott International; Hilton Worldwide; Wyndham Corporation; Hyatt Hotels Corporation and Four Seasons Hotels & Resorts.
Asia Pacific was the largest region in the global non-residential accommodation services market, accounting for 36% of the market in 2020. North America was the second largest region accounting for 28% of the global non-residential accommodation services market. Africa was the smallest region in the global non-residential accommodation services market.
Hotels are 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.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the non-residential accommodation services market in 2020 as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these establishments. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the non-residential accommodation services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
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 WeSwap, the holiday destination of 37% of the millennials was inspired by social media content and 61% of the travellers want to share their experiences online. 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.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Non-Residential Accommodation Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Non-Residential Accommodation Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Non-Residential Accommodation Services Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Non-Residential Accommodation Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Non-Residential Accommodation Services Market Trends And Strategies
8. Impact Of COVID-19 On Non-Residential Accommodation Services
9. Non-Residential Accommodation Services Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Non-Residential Accommodation Services Market Regional Analysis
10.1. Global Non-Residential Accommodation Services Market, 2020, By Region, Value ($ Billion)
10.2. Global Non-Residential Accommodation Services Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Non-Residential Accommodation Services Market, Growth And Market Share Comparison, By Region
11. Non-Residential Accommodation Services Market Segmentation
11.1. Global Non-Residential Accommodation Services Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hotel And Other Travel Accommodation
- Camping And Caravanning
- Students And Workers Non-residential Accommodation
11.2. Global Non-Residential Accommodation Services Market, Segmentation By Price Point, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Economy
- Mid-Range
- Luxury
11.3. Global Non-Residential Accommodation Services Market, Segmentation By Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Direct Sales
- Distributor
11.4. Global Non-Residential Accommodation Services Market, Segmentation By Mode of Booking, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Online Bookings
- Direct Bookings
- Others
12. Non-Residential Accommodation Services Market Segments
12.1. Global Hotel And Other Travel Accommodation Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Hotel And Motel; Casino Hotels; Bed And Breakfast Accommodation; All Other Traveler Accommodation
12.2. Global Camping And Caravanning Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - RV (Recreational Vehicle) Parks And Campgrounds; Recreational And Vacation Camps
12.3. Global Students And Workers Non-residential Accommodation Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Dormitories, Off Campus Establishments; Migrant Workers' Camps
13. Non-Residential Accommodation Services Market Metrics
13.1. Non-Residential Accommodation Services Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Non-Residential Accommodation Services Market Expenditure, 2015-2025, Global
14. Asia-Pacific Non-Residential Accommodation Services Market
15. Western Europe Non-Residential Accommodation Services Market
16. Eastern Europe Non-Residential Accommodation Services Market
17. North America Non-Residential Accommodation Services Market
18. South America Non-Residential Accommodation Services Market
19. Middle East Non-Residential Accommodation Services Market
20. Africa Non-Residential Accommodation Services Market
21. Non-Residential Accommodation Services Market Competitive Landscape
21.1. Competitive Market Overview
21.2. Market Shares
21.3. Company Profiles
21.3.1. Marriott International
21.3.1.1. Company Overview
21.3.1.2. Products And Services
21.3.1.3. Strategy
21.3.1.4. Financial Performance
21.3.2. Hilton Worldwide
21.3.2.1. Company Overview
21.3.2.2. Products And Services
21.3.2.3. Strategy
21.3.2.4. Financial Performance
21.3.3. Wyndham Corporation
21.3.3.1. Company Overview
21.3.3.2. Products And Services
21.3.3.3. Strategy
21.3.3.4. Financial Performance
21.3.4. Hyatt Hotels Corporation
21.3.4.1. Company Overview
21.3.4.2. Products And Services
21.3.4.3. Strategy
21.3.4.4. Financial Performance
21.3.5. Four Seasons Hotels & Resorts
21.3.5.1. Company Overview
21.3.5.2. Products And Services
21.3.5.3. Strategy
21.3.5.4. Financial Performance
22. Key Mergers And Acquisitions In The Non-Residential Accommodation Services Market
23. Market Background: Hospitality Market
23.1. Hospitality Market Characteristics
23.2. Hospitality Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Growth, By Segment, Value ($ Billion), Global
23.3. Global Hospitality Market, 2020, By Region, Value ($ Billion)
23.4. Global Hospitality Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
23.5. Global Hospitality Market, 2015-2020, 2020-2025F, 2030F, Segmentation By Type, Value ($ Billion)
24. Recommendations
25. Appendix
26. Copyright And Disclaimer
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