The Business Research Company’s Non-Residential Accommodation Services Global Market Report, covers the year-on-year growth of the global Non-residential accommodation services market historic and forecast growth. It also includes chapters on the Non-residential accommodation services market trends, geographical analysis, and competitive landscape.
The Global Non-Residential Accommodation Services Market size is expected to reach $4.1 trillion by 2022, significantly growing at a CAGR of around 3.3% during the forecast period.
Non-Residential Accommodation Services Market Trends
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.
Wellness travel is on the rise in the accommodation market. It includes classic yoga retreats and spa experiences, detox menu, mediation sessions, extreme fitness boot camps, agro-tourism and farm stays, hot springs and thermal bath trips, cycling vacations and more. More travelers are looking for holistic experiences when they are vacationing and are adding services to their properties that include yoga classes, expanded gyms and spas. For example, major resort and hotel brands such as Starwood Hotels and InterContinental Hotels Group have launched their own dedicated wellness brands of hotels.
The global non-residential accommodation services market is primarily driven by merging markets growth, increase in disposable income and increase in popularity of leisure travel, increasing public and private funding for 3D printing technology.
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The global non-residential accommodation services market report covers the following regions under the geographical analysis section: Asia pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increased development of medical tourism, growing popularity of social media, economic growth, the global Non-residential accommodation services market is expected to increase in potential and scope. TBRC’s report also covers the Non-residential accommodation services drivers and restraints in the market.
The global Non-residential accommodation services market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global Non-residential accommodation services market report are Marriott International Inc., Hilton Worldwide Holdings Inc., Wyndham Worldwide Corporation, Hyatt Hotels Corporation, and Four Seasons Hotels & Resorts.
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