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Students And Workers Non-residential Accommodation Global Market Report 2022

·4-min read

Major companies in the non-residential accommodation market include American Campus Communities, Unite Group PLC, Campus Apartments Inc. , Asset Plus Companies, Centurion Corporation, The Preiss Company and Buckingham Companies and Education Realty Trust.

New York, Dec. 30, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Students And Workers Non-residential Accommodation Global Market Report 2022" -

The global students and workers non-residential accommodation market is expected to grow from $12.49 billion in 2021 to $16.55 billion in 2022 at a compound annual growth rate (CAGR) of 32.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $29.80 billion in 2026 at a CAGR of 15.8%.

The non-residential accommodation market consists of sales of non-residential accommodation services and related goods by entities (organizations, sole traders and partnerships) that operate rooming and boarding houses and similar facilities, such as off campus dormitories, residential clubs, and workers’ camps.These establishments provide temporary or longer-term accommodation, which, for the period of occupancy, may serve as a principal residence.

These establishments also provide complementary services, such as housekeeping, meals and laundry services.

The main types of non-residential accommodation are hotel and other travel accommodation, camping and caravanning, students and workers non-residential accommodation.Camping and caravanning comprise establishments primarily engaged in operating overnight recreational camps, such as children’s camps, family vacation camps, hunting and fishing camps, and outdoor adventure retreats, that offer trail riding, white water rafting, hiking, and similar activities.

These establishments provide accommodation facilities, such as cabins and fixed campsites, and other amenities, such as food services, recreational facilities and equipment, and organized recreational activities.The non-residential accommodation is sold through direct sales and by distributor and the price point includes economy, mid-range, and luxury.

The different modes of bookings includes online bookings, direct bookings and others.

Western Europe was the largest region in the non-residential accommodation market in 2021.North America was the second largest region in the global non-residential accommodation market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Globalization is expected to pave the way for more joint ventures, foreign investments, global expansion and multi-national companies setting up facilities in high growth regions, thereby allowing restaurant operators to offer their cuisines to customers around the world.Globalization is also making it easier for restaurants to procure exotic ingredients and hence provide more sophisticated and wider variety of dishes to its customers, thereby giving restaurants an opportunity to compete globally.

Furthermore, globalization has increased the number of potential vendors for restaurants, lowering the bargaining power of suppliers and thus helping the bottom line.For example, McDonald’s produces in many countries and has franchises around the world.

It invests and supports initiatives to adapt its products and services to different locales to ensure its global brand. This rise in globalization is likely to boost investments and consequentially drive the market going forward.

Restaurants are using menu engineering and restaurant reporting strategies to improve customers’ experience and improve profits.Separate menus for appetizers, entrées/main dishes, desserts, and beverages are giving servers an additional touch point to ask customers to add something to their order.

Also, restaurant operators are analyzing customer preferences through data-driven approaches that enable restaurants to offer relevant choices to the customers at each point in the meal.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the restaurants and mobile food services market in 2020 as governments globally imposed restrictions on domestic and international travel limiting the need for services offered by these establishments.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the restaurants and mobile food services market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy

The countries covered in the non-residential accommodation market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

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