Press release
Non-Residential Accommodation Services Market 2020 Business Scenario – Marriott International; Hilton Worldwide; Wyndham Corporation; Hyatt Hotels Corporation; Four Seasons Hotels & Resorts
Non-Residential Accommodation Services Market
The global non-residential accommodation services market is expected to decline from $1017.2 billion in 2019 to $1013.5 billion in 2020 at a compound annual growth rate (CAGR) of -0.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 10% from 2021 and reach $1302.9 billion in 2023.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Non-Residential Accommodation Services Market: Marriott International; Hilton Worldwide; Wyndham Corporation; Hyatt Hotels Corporation; Four Seasons Hotels & Resorts
Market Segmentation
1) By Type: Hotel And Other Travel Accommodation; Camping And Caravanning; Students And Workers Non-residential Accommodation
2) By Price Point: Economy; Mid-Range; Luxury
3) By Channel: Direct Sales; Distributor
4) By Mode of Booking: Online Bookings; Direct Bookings; Others
Subsegments Covered: Hotel And Motel; Casino Hotels; Bed And Breakfast Accommodation; All Other Traveler Accommodation; RV (Recreational Vehicle) Parks And Campgrounds; Recreational And Vacation Camps; Dormitories, Off Campus Establishments; Migrant Workers' Camps
Key Market Trends
Asia Pacific was the largest region in the global non-residential accommodation services market, accounting for 35% of the market in 2019. 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.
To match customer expectations, in terms of services and the speed at which these services are provided, hotels are implementing a wide range of technologies to measure and meet their clients expectations. They are implementing advanced analytics solutions to analyze large amounts of data to increase profitability and enhance customers experiences. One key application is to predict occupancy rates more accurately in order to implement surge pricing with the aim of increasing spends and occupancy rates. Companies in the market are making major investments in technology-based solutions like power check-ins and mobile payment processing in order to satisfy customers. The most significant investment, however, is in hotel analytics.
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.
Influence Of The Non-Residential Accommodation Services Market Report:
-Comprehensive assessment of all opportunities and risk in the Non-Residential Accommodation Services market.
- Non-Residential Accommodation Services market recent innovations and major events.
-A detailed study of business strategies for growth of the Non-Residential Accommodation Services market-leading players.
-Conclusive study about the growth plot of Non-Residential Accommodation Services market for forthcoming years.
-In-depth understanding of Non-Residential Accommodation Services market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Non-Residential Accommodation Services market.
The report has 150 tables and figures browse the report description and TOC:
https://www.marketinsightsreports.com/reports/06022059288/non-residential-accommodation-services-global-market-report-2020-30-covid-19-impact-and-recovery-including-1-by-type-hotel-and-other-travel-accommodation-camping-and-caravanning-students-and-workers-non-residential-accommodation-2-by-price-point-economy-mid-range-luxury-3-by-channel-direct-sales-distributor-4-by-mode-of-booking-online-bookings-direct-bookings-others-covering-marriott-international-hilton-worldwide-wyndham-corporation-hyatt-hotels-corporation-four-seasons-hotels-resorts?source=openpr&Mode=12
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The Non-Residential Accommodation Services Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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