The Luxury Hotel Market is expected to be around US$ 237.84 Billion by 2027 at a CAGR of 4.24% in the given forecast period.
Luxury hotels deliver comfortable stay to tourist and travellers along with facilities such as swimming pool, spa, and fitness center. The market for luxury hotel has grown significantly in the past few years due to growth in the number of business travellers globally. The global luxury hotel market is driven by growth in travel & tourism industry, rise in preference for leisure travel, and better standard of living. Nevertheless, premium price charged by such hotels restrains the market development. The growth in the tourism and travel industry and altering forms in the standard of living have led to progressive development in the luxury hotel market trends. The demand for luxury hotels differs with the type of properties and is influenced by factors such as size, location, and on-site properties. Growing disposable income, popularizing weekend culture, the overview of low-cost airline services, and the booming service sector are expected to drive the market. Sports teams, as well as audiences traveling from different destinations for the tournament, tend to book their stays in luxury hotels, leading to a surge in the number of bookings.
The global Luxury Hotel market is segregated on the basis of Service Type as Business Hotels, Airport Hotels, Suite Hotels, Resorts, and Other Service Types.
The global Luxury Hotel market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Luxury Hotel market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Rivalry
ITC HOTELS, Marriott International Inc., Accor SA, Belmond Ltd, Four Seasons Hotels Limited, InterContinental Hotels Group PLC, Rosewood Hotels & Resorts, Ritz-Carlton Hotel Company LLC, Hyatt Corporation, Shangri-La International Hotel Management Ltd, and others are among the major players in the global Luxury Hotel market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.
The Luxury Hotel Market has been segmented as below:
Luxury Hotel Market, By Service Type
Luxury Hotel Market, By Region
Luxury Hotel Market, By Company
The report covers:
Report Scope:
The global Luxury Hotel market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Luxury Hotel market share. Major industry players with significant revenue share include ITC HOTELS, Marriott International Inc., Accor SA, Belmond Ltd, Four Seasons Hotels Limited, InterContinental Hotels Group PLC, Rosewood Hotels & Resorts, Ritz-Carlton Hotel Company LLC, Hyatt Corporation, Shangri-La International Hotel Management Ltd, and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Luxury Hotel Market, By Service Type
5.1. Key Points
5.2. Business Hotels
5.3. Airport Hotels
5.4. Suite Hotels
5.5. Resorts
5.6. Other Service Types
6. Competitive Landscape
6.1. Introduction
6.2. Recent Developments
6.2.1. Mergers & Acquisitions
6.2.2. New Product Developments
6.2.3. Portfolio/Production Capacity Expansions
6.2.4. Joint Ventures, Collaborations, Partnerships & Agreements
6.2.5. Others
7. Company Profiles
7.1 ITC HOTELS
7.1.1 Company Overview
7.1.2 Product/Service Landscape
7.1.3 Financial Overview
7.1.4 Recent Developments
7.2 Marriott International Inc.
7.2.1 Company Overview
7.2.2 Product/Service Landscape
7.2.3 Financial Overview
7.2.4 Recent Developments
7.3 Accor SA
7.3.1 Company Overview
7.3.2 Product/Service Landscape
7.3.3 Financial Overview
7.3.4 Recent Developments
7.4 Belmond Ltd
7.4.1 Company Overview
7.4.2 Product/Service Landscape
7.4.3 Financial Overview
7.4.4 Recent Developments
7.5 Four Seasons Hotels Limited
7.5.1 Company Overview
7.5.2 Product/Service Landscape
7.5.3 Financial Overview
7.5.4 Recent Developments
7.6 InterContinental Hotels Group PLC
7.6.1 Company Overview
7.6.2 Product/Service Landscape
7.6.3 Financial Overview
7.6.4 Recent Developments
7.7 Rosewood Hotels & Resorts
7.7.1 Company Overview
7.7.2 Product/Service Landscape
7.7.3 Financial Overview
7.7.4 Recent Developments
7.8 Ritz-Carlton Hotel Company LLC
7.8.1 Company Overview
7.8.2 Product/Service Landscape
7.8.3 Financial Overview
7.8.4 Recent Developments
7.9 Hyatt Corporation
7.9.1 Company Overview
7.9.2 Product/Service Landscape
7.9.3 Financial Overview
7.9.4 Recent Developments
7.10 Shangri-La International Hotel Management Ltd
7.10.1 Company Overview
7.10.2 Product/Service Landscape
7.10.3 Financial Overview
7.10.4 Recent Developments
The Luxury Hotel Market has been segmented as below:
Luxury Hotel Market, By Service Type
Luxury Hotel Market, By Region
Luxury Hotel Market, By Company
