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 BUSINESS RESEARCH COMPANY EXPECTS THE NON-RESIDENTIAL ACCOMMODATION SERVICES MARKET TO GROW TO $3 TRILLION BY 2021
North America was the largest region in the non-residential accommodation services market in 2017, accounting for one third of the market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, 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.
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Marriot International, Inc. was the largest company in the non-residential accommodation services market, with revenues of $17.1 billion for the financial year 2016. Marriot International, Inc.’s growth strategy aims to empower diverse business owners through its supply chain, advocating for visa and entry policies that facilitate travel. Marriot International, Inc. plans to have a global reach with 1 million rooms and an additional $50 billion real estate investment by owners and franchisees.
The non-residential accommodation services market provides lodging or short-term accommodation for travelers, vacationers and others. It includes hotels, motels, casino hotels, bed and breakfast accommodations, rooming and boarding houses, recreational and vacation camps, recreational vehicle parks and campgrounds and all other traveler accommodation.
Non-Residential Accommodation Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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