Lodging houses and hotels operated by membership organizations for the benefit of their constituents, and not open to the general public. Commercial hotels operated by such organizations are classified in Industry 7011 and commercial rooming and boarding houses are classified in Industry 7021. Residential homes for the aged and handicapped are classified in Industry 8361.
The NAICS 7041 category, consisting of Organization Hotels and Lodging Houses on a membership basis, is witnessing several qualitative trends. One significant trend is the rise in demand for personalized and exclusive experiences. Members are increasingly seeking more unique and tailored services that set membership-based lodging apart from traditional hotels. This includes customized room settings, exclusive events, and personalized concierge services.
Another trend is the incorporation of advanced technology to enhance member experiences. This includes the use of mobile apps for seamless check-ins and check-outs, virtual concierge services, and smart room controls. Additionally, sustainability is playing a larger role, with members prioritizing eco-friendly accommodations and practices such as waste reduction, energy-efficient systems, and locally sourced products.
In terms of forecasts, the near future looks promising for membership-based lodging organizations. The focus on personalization and exclusivity is expected to grow, driven by the increasing desire of travelers for unique and memorable experiences. Technological advancements will continue to be embraced, further enhancing convenience and member satisfaction. Additionally, the trend toward sustainability will likely become more pronounced, as environmentally conscious members demand greener practices. Overall, these factors suggest robust growth and innovation for the NAICS 7041 industry in the coming years.
Boarding houses operated by organizations for members only
Boarding houses, fraternity and sorority
Fraternity residential houses
Hotels operated by organizations for members only
Lodging houses operated by organizations for members only
Residence clubs operated by organizations for members only
Rooming houses operated by organizations for members only
Rooming houses, fraternity and sorority
Sorority residential houses
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.