Major companies in the non-residential accommodation market include Centurion Corporation; American Campus Communities; Education Realty Trust Inc; Unite Group Inc and Campus Crest Communities Inc.
New York, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Students And Workers Non-residential Accommodation Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018903/?utm_source=GNW
The global students and workers non-residential accommodation market is expected to grow from $9.84 billion in 2020 to $10.64 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. 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 $15.62 billion in 2025 at a CAGR of 10%.
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 may provide complementary services, such as housekeeping, meals, and laundry services. The non-residential accommodation market is segmented into dormitories, off campus establishments and migrant workers’ camps.
Western Europe was the largest region in the global students and workers non-residential accommodation market, accounting for 29% of the market in 2020. North America was the second largest region accounting for 29% of the global students and workers non-residential accommodation market. Africa was the smallest region in the global students and workers non-residential accommodation market.
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 is expected to continue to have 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.
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.
Read the full report: https://www.reportlinker.com/p06018903/?utm_source=GNW
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