Non-Residential Accommodation Market Size (2024 - 2029)

The non-residential accommodation market is anticipated to experience significant growth, driven by factors such as increased business travel, tourism, and globalization. The expansion of the middle class in emerging economies further fuels this growth, as more individuals gain the financial capacity to travel and utilize various accommodation options. Despite the challenges posed by the Covid-19 pandemic, which severely impacted the travel and tourism sectors and accelerated technological advancements within the industry, the market is expected to recover and expand over the long term. This growth is influenced by economic development, urbanization, and rising global travel, although the recovery trajectory may differ across regions and types of accommodation.

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Market Size of Non-Residential Accommodation Industry

Non-Residential Accommodation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 12.00 %
Fastest Growing Market North America
Largest Market Asia-Pacific
Market Concentration High

Major Players

Non-Residential Accommodation Market Major Players

*Disclaimer: Major Players sorted in no particular order

Non-Residential Accommodation Market Analysis

The Non-Residential Accommodation Market is expected to grow at a CAGR greater than 12% during the forecasted period.

The outbreak of the Covid-19 pandemic had a significant impact on the global non-residential accommodation market. The travel and tourism industry, a major market driver, was severely impacted by the pandemic as countries worldwide implemented travel restrictions and lockdowns to curb the spread of the virus. The hotel industry, in particular, was severely affected by the pandemic, with many hotels experiencing significant declines in occupancy rates and revenues. The pandemic also accelerated technology adoption in the non-residential accommodation industry. Hotels and other accommodation providers implement digital solutions such as mobile check-ins and keyless room access to minimize contact between guests and staff.

The market is driven by increased business travel, tourism, and globalization. The rise of the middle class in emerging economies also contributed to the growth of the non-residential accommodation market, as more people contains the financial means to travel and stay in hotels or other forms of accommodation. The market is highly competitive, with many players operating at various levels of the value chain, from budget to luxury accommodation. Overall, the global non-residential accommodation market is expected to grow over the long term, driven by economic growth, urbanization, and increasing global travel. However, the market's recovery from the pandemic's impact is expected to be gradual, with growth rates varying by region and accommodation type.

Non-Residential Accommodation Industry Segmentation

Non-residential accommodation refers to real estate that are not a dwelling, such as a commercial or industrial space, a place of worship, a hotel, a hospital, a school, or a facility owned by the government. Non-residential accommodations include small businesses, commercial agriculture buildings, industrial buildings, and warehouses.

The Non-Residential Accommodation Market is segmented by type (hotels, motels, resorts, vacation rentals, and others), end user (leisure travelers, business travelers, and group travelers), distribution channels (hotel websites, Online Travel Agencies (OTA), Travel Management Companies (TMCs), and corporate travel agents), and geography (North America, Europe, Asia Pacific, South America, and the Middle East). The report offers market size and values in (USD million) during the forecast years for the above segments.

By Type
Hotels
Motels
Resorts
Vacation Rentals
Others
By End User
Leisure Travelers
Business Travelers
Group Travelers
By Distribution Channels
Hotel Websites
Online Travel Agencies (OTA)
Travel Management Companies (TMCs)
Corporate Travel Agents
By Geography
North America
Europe
Asia-Pacific
South America
Middle East
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Non-Residential Accommodation Market Size Summary

The non-residential accommodation market is poised for significant growth, driven by factors such as increased business travel, tourism, and globalization. The rise of the middle class in emerging economies has further fueled this expansion, as more individuals gain the financial means to travel and stay in various forms of accommodation. The market is characterized by intense competition, with numerous players operating across the value chain, from budget to luxury offerings. Despite the challenges posed by the Covid-19 pandemic, which severely impacted the travel and tourism sector, the market is expected to recover gradually. The pandemic also accelerated the adoption of technology within the industry, with accommodation providers implementing digital solutions like mobile check-ins and keyless room access to enhance guest experiences and improve operational efficiency.

Technological advancements continue to shape the non-residential accommodation market, with providers increasingly offering technology-driven services such as digital concierge services and in-room smart technology. These innovations aim to enhance guest experiences and streamline operations, contributing to the market's growth. The popularity of vacation rentals, facilitated by platforms like Airbnb and VRBO, has introduced new competition for traditional hotels, prompting them to offer more unique and localized experiences. The sharing economy's acceptance has further bolstered the demand for vacation rentals, which provide travelers with authentic, flexible, and cost-effective alternatives to traditional accommodations. The market remains relatively consolidated, with major players like Marriott International, Hilton Worldwide Holdings, and InterContinental Hotels Group dominating the landscape, continuously expanding their offerings to capture a broader audience.

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Non-Residential Accommodation Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Suppliers

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights on Technology Innovations in the Market

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Hotels

      2. 2.1.2 Motels

      3. 2.1.3 Resorts

      4. 2.1.4 Vacation Rentals

      5. 2.1.5 Others

    2. 2.2 By End User

      1. 2.2.1 Leisure Travelers

      2. 2.2.2 Business Travelers

      3. 2.2.3 Group Travelers

    3. 2.3 By Distribution Channels

      1. 2.3.1 Hotel Websites

      2. 2.3.2 Online Travel Agencies (OTA)

      3. 2.3.3 Travel Management Companies (TMCs)

      4. 2.3.4 Corporate Travel Agents

    4. 2.4 By Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia-Pacific

      4. 2.4.4 South America

      5. 2.4.5 Middle East

Non-Residential Accommodation Market Size FAQs

The Non-Residential Accommodation Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)

Marriott International, Hilton Worldwide Holdings, InterContinental Hotels Group, AccorHotels and MGM Resorts International are the major companies operating in the Non-Residential Accommodation Market.

Non-Residential Accommodation Market Report Snapshots

Non-Residential Accommodation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)