Market Overview:
The global five star hotel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for luxury hotels, especially in developing countries. Additionally, the rise in disposable income and increase in tourism are also contributing factors to the growth of this market. The global five star hotel market can be segmented on the basis of type into business hotels, suite hotels, airport hotels and resorts hotels. The business hotel segment is expected to account for a major share of the global five star hotel market during the forecast period owing to its high demand from corporate travelers. The suite hotel segment is projected to grow at a higher CAGR than other segments during 2018-2030 due its growing popularity among leisure travelers and rising preference for luxurious accommodations. On the basis of application, room constitutes a major share of revenue generated by five star hotels across all regions; however, F&B (food and beverage) services are gaining traction with an increasing number of luxury properties offering Michelin starred restaurants along with premium bars & lounges .SPA (spa) services are also becoming popular among guests seeking relaxation and rejuvenation opportunities while on vacation or business travel .Other applications such as meetings & events space rental , retail shops etc., also generate significant revenue for these properties .
Product Definition:
A five star hotel is a type of luxury hotel that is typically rated as having the highest degree of service and amenities. Five star hotels are often located in major cities and offer upscale accommodations, restaurants, and spas.
Business Hotel:
Business hotel is a facility, which caters to the needs of business travelers and tourists. Business hotels are generally located in the central parts of any city or town. They offer services such as laundry, conference rooms, restaurants and lounges for business meetings or recreational activities along with basic accommodation facilities. The growth factor in the market is increased tourism due to rise in disposable income among middle class population groups across all regions globally.
Suite Hotel:
Suite hotel is a collection of rooms usually attached to one main living area. It can be used in hotels with five star rating or less depending on the number of rooms and facilities offered. Suite hotel offers more privacy as compared to room only hotels, hence it is preferred by business travelers and people traveling for medical reasons among others.
In recent years, suite hotels have been offering not only bedroom but also kitchen, living room.
Application Insights:
The room application segment held the largest share of more than 60.0% in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing demand for hotel rooms among travelers across the globe. According to a study conducted by travel analytics company, OAG, Inc., around 9 out of 10 customers book their hotel rooms online and nearly 50% of these reservations are made through mobile devices which indicates that customer preference for online booking is high and this trend is likely to continue over the next seven years thereby driving market growth.
SPA application segment was valued at USD 1,225.1 million in 2017.
Regional Analysis:
Asia Pacific dominated the global five star hotel market in 2017 with more than 35.0% share of the overall revenue. This growth is attributed to increasing number of business travelers across emerging economies, such as China and India, which has resulted in increased demand for Five-star hotels. Moreover, growing trend of traveling on budget friendly but luxurious accommodations is expected to drive regional growth over the forecast period.
Europe accounted for a significant share owing to presence of many luxury hotels that are part of international chains like Four Seasons or Raffles Hotels & Resorts Ltd., owned by Malaysia-based Genting Group Bhd., which have adopted Five Star rating standards and amenities including services provided to rooms and suites along with restaurants run by chefs trained at world renowned cooking schools located at these properties.
Growth Factors:
- Rising disposable income of people in developing countries is driving the demand for Five Star Hotels.
- Increasing number of business travelers is also fueling the growth of this market as they prefer to stay in these hotels for their convenience and comfort.
- Rapid urbanization has resulted in the development of many new tourist destinations, which are boosting the demand for Five Star Hotels worldwide.
- Proliferation of online travel booking platforms has made it easier for people to find and book rooms in these hotels, thereby contributing to their growth.
- Growing popularity of luxury lifestyle products and services is also propelling the expansion of Five Star Hotel market globally
Scope Of The Report
Report Attributes
Report Details
Report Title
Five Star Hotel Market Research Report
By Type
Business Hotel, Suite Hotel, Airport Hotel, Resorts Hotel
By Application
Room, F&B, SPA, Others
By Companies
Marriott International, Hilton, Starwood Hotels & Resorts (Marriott), Hyatt Hotels, Four Seasons Holdings Inc., Shangri-La International Hotel Management Ltd., InterContinental Hotels Group PLC, Mandarin Oriental International Limited, The Indian Hotels Company Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., ITC Hotels Limited
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Five Star Hotel Market Report Segments:
The global Five Star Hotel market is segmented on the basis of:
Types
Business Hotel, Suite Hotel, Airport Hotel, Resorts Hotel
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Room, F&B, SPA, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Marriott International
- Hilton
- Starwood Hotels & Resorts (Marriott)
- Hyatt Hotels
- Four Seasons Holdings Inc.
- Shangri-La International Hotel Management Ltd.
- InterContinental Hotels Group PLC
- Mandarin Oriental International Limited
- The Indian Hotels Company Limited
- Jumeirah International LLC
- Kerzner International Resorts, Inc.
- ITC Hotels Limited
Highlights of The Five Star Hotel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Business Hotel
- Suite Hotel
- Airport Hotel
- Resorts Hotel
- By Application:
- Room
- F&B
- SPA
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Five Star Hotel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Five Star Hotel is a hotel chain with 5,000 locations in over 100 countries.
Some of the key players operating in the five star hotel market are Marriott International, Hilton, Starwood Hotels & Resorts (Marriott), Hyatt Hotels, Four Seasons Holdings Inc., Shangri-La International Hotel Management Ltd., InterContinental Hotels Group PLC, Mandarin Oriental International Limited, The Indian Hotels Company Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., ITC Hotels Limited.
The five star hotel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Five Star Hotel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Five Star Hotel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Five Star Hotel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Five Star Hotel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Five Star Hotel Market Size & Forecast, 2020-2028
4.5.1 Five Star Hotel Market Size and Y-o-Y Growth
4.5.2 Five Star Hotel Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Business Hotel
5.2.2 Suite Hotel
5.2.3 Airport Hotel
5.2.4 Resorts Hotel
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Room
6.2.2 F&B
6.2.3 SPA
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Five Star Hotel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Five Star Hotel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Business Hotel
9.6.2 Suite Hotel
9.6.3 Airport Hotel
9.6.4 Resorts Hotel
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Room
9.10.2 F&B
9.10.3 SPA
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Business Hotel
10.6.2 Suite Hotel
10.6.3 Airport Hotel
10.6.4 Resorts Hotel
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Room
10.10.2 F&B
10.10.3 SPA
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Business Hotel
11.6.2 Suite Hotel
11.6.3 Airport Hotel
11.6.4 Resorts Hotel
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Room
11.10.2 F&B
11.10.3 SPA
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Business Hotel
12.6.2 Suite Hotel
12.6.3 Airport Hotel
12.6.4 Resorts Hotel
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Room
12.10.2 F&B
12.10.3 SPA
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Business Hotel
13.6.2 Suite Hotel
13.6.3 Airport Hotel
13.6.4 Resorts Hotel
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Room
13.10.2 F&B
13.10.3 SPA
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Five Star Hotel Market: Competitive Dashboard
14.2 Global Five Star Hotel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Marriott International
14.3.2 Hilton
14.3.3 Starwood Hotels & Resorts (Marriott)
14.3.4 Hyatt Hotels
14.3.5 Four Seasons Holdings Inc.
14.3.6 Shangri-La International Hotel Management Ltd.
14.3.7 InterContinental Hotels Group PLC
14.3.8 Mandarin Oriental International Limited
14.3.9 The Indian Hotels Company Limited
14.3.10 Jumeirah International LLC
14.3.11 Kerzner International Resorts, Inc.
14.3.12 ITC Hotels Limited
