The non-residential accommodation services market comprise sale of non-residential accommodation services and related goods by establishments providing lodging or short-term accommodation for travellers, vacationers, and others. Some institutions provide accommodations only, even as others provide meals, laundry offerings, and leisure facilities, as nicely as lodging. Lodging establishments are classified on this subsector even if the provision of complementary offerings generates greater revenue. The forms of complementary services furnished range from each establishment to establishment.
According to the report, “Non-Residential Accommodation Services Global Market Report 2019” Some of the key companies operating the market include Hilton Worldwide, Wyndham Corporation, Hyatt Hotels Corporation, Four Seasons Hotels & Resorts.
To match consumer expectations, in phrases of services and the velocity at which these offerings are provided, accommodations are implementing a wide range of technology to degree and meet their clients’ expectations. They are imposing advanced analytics solutions to analyse big quantities of records to growth 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 within the marketplace are making important investments in technology-based totally solutions like energy check-ins and cell payment processing so that it will satisfy customers. Technological advances are enabling companies to deliver personalized offerings via obtaining patron intelligence. Companies are supplying custom designed promotions and offers by means of collecting vital records about consumers’ likes, dislikes and preferences by way of the use of social media and technologies such as cell software packages that track consumer behaviour. In addition, to the non- residential services offered by various organisations there are key additional services associated to body & hair spa, wellness therapies, and adventurous activities further driving the preference for the leisure travel among tourists market. The trend of discovering untapped tourist destinations by the wide scale use of social media have further promoted the non-residential accommodation market.
The global non-residential accommodation services market is majorly segmented by type as hotel and other travel accommodation, camping and caravanning, students and workers
Based on price non-residential accommodation is segmented into price point into economy, mid-range, luxury, by channel into direct sales, distributor, by mode of booking into online bookings, direct bookings, others. The sub segments further covers hotel and motel, casino hotels, bed and breakfast accommodation, all other traveller accommodation, RV (recreational vehicle) parks and campgrounds, recreational and vacation camps, dormitories, off campus establishments, migrant workers camps.
Asia Pacific was the largest region in the non-residential accommodation services global market, accounted for nearly one third of the total market. The North America was the second largest region accounting for almost similar share in the non-residential accommodation services global market. African region held the least share in the global non-residential accommodation services market. Furthermore, the tourism has further significantly over the countries such as France, Spain, and Germany not only for the leisure activities but also for the professional services and purposes. Moreover, the Asia-Pacific region is expected to witness a rapid growth during the forecast period, owing to maximum rise in tourism and rapid economic growth associated to large infrastructure projects, availability of comfortable & cost-effective commute facility, and improvement in the air connectivity
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Ankur Gupta, Head Marketing & Communications