Market Trends of Non-Residential Accommodation Industry
Technology Driven Services is Driving the Market
Technology greatly impacted the non-residential accommodation market and is expected to continue. Many hotels and other accommodation providers are implementing technology-driven services such as mobile check-in, keyless entry, and digital concierge services to enhance the guest experience and improve efficiency. Many hotels now offer mobile check-in services that allow guests to check in and receive their room keys through their mobile devices. This technology can save guests time and improve the efficiency of the check-in process.
Keyless entry systems allow guests to access their room using their mobile device instead of a physical key. This technology can improve security and streamline the check-in process. Digital concierge services allow guests to request services and information through their mobile devices, such as restaurant recommendations, transportation arrangements, or room service. This technology can enhance the guest experience and provide personalized service. Many hotels now offer in-room technology, such as smart TVs and voice-activated assistants, to provide guests with a more comfortable and convenient stay. These technologies can be used for entertainment, ordering room service, or adjusting room temperature and lighting.
Contactless payment systems, such as Apple Pay and Google Wallet, allow guests to pay for their stay without touching a credit card or using a pin pad. This technology can improve security and reduce the risk of transmitting germs. Technology-driven services are increasingly important in the global non-residential accommodation market, benefiting guests and accommodation providers.
Growing Popularity of Vacation Rentals is Driving the Market
Vacation rentals like Airbnb, HomeAway, and VRBO became increasingly popular among travelers seeking a more authentic and personalized experience. This trend led to increased competition in the non-residential accommodation market, with hotels and other providers offering unique and localized experiences to attract guests. Vacation rentals offer travelers a unique and authentic experience often unavailable in traditional hotels. Staying in a vacation rental allows travelers to immerse themselves in the local culture and experience life like a local.
Vacation rentals are often more affordable than traditional hotels, especially for larger groups or longer stays. In addition, vacation rentals often offer amenities such as kitchens, saving travelers money on dining out. They offer more flexibility than traditional hotels, as guests can often check in and out conveniently. They also offer more privacy and freedom than traditional hotels, as guests can come and go as they please and often have access to more space. The sharing economy gained greater acceptance in recent years as consumers became more comfortable sharing goods and services. It increased the popularity of vacation rentals, as travelers feel more comfortable renting someone else's home or apartment.
The growing popularity of vacation rentals significantly impacted the global non-residential accommodation market, creating new competition for traditional hotels and other accommodation providers. Many hotels and other providers are responding to this trend by offering more unique and localized experiences to attract guests.
