Market Overview:
The global luxury hotels market is expected to grow at a CAGR of 5.8% during the forecast period 2018-2030. The market growth can be attributed to the increasing demand for luxury hotel rooms, rising disposable income, and growing tourism industry. The global luxury hotels market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into business hotel, suite hotel, airport hotel, resorts hotel and luxury hotel. The business Hotel segment accounted for majority share in 2017 and is projected to grow at a CAGR of 5.5% during the forecast period 2018-2030 owing to increase in corporate travel expenditure by businesses across different industries such as automotive & transportation; banking & financial services; consumer goods & retail; healthcare & life sciences; hospitality ; information technology (IT) ; telecommunications .
Product Definition:
Luxury Hotels are high-end hotels that offer the best in amenities and services. They often have luxurious rooms, spas, restaurants, and bars. Luxury hotels are important because they provide a high-quality experience for guests who want to feel pampered.
Business Hotel:
Business hotel is a facility, which caters to the business travelers and provides them with all facilities including laundry, conference rooms, internet access and various other services. The growth of this industry largely depends upon the rise in number of business trips globally. According to statistics published by the World Travel & Tourism Council (WTTC), global outbound travel increased by 4% in 2015 as compared to 2014 which in turn has created huge potential for luxury hotels across different regions.
Suite Hotel:
Suite hotel is a collection of rooms usually attached to one main living area and has kitchen facilities. It is also known as a apartment hotel or room block hotel. Suite hotels are larger in size than regular hotels and have more space, luxury, comfort, safety & security features which gives consumers value for money. The suite Hotel Market Size, Share & Trends Analysis Report By Region (North America (U.S., Canada), Europe (Germany, U.K.
Application Insights:
The room application segment held the largest market share of over 50% in 2017. The increasing number of business travelers and honeymooners are among the key factors driving the demand for luxury hotels rooms. Furthermore, an increase in high-end tourism has resulted in a rise in demand for premium hotel rooms across various regions globally.
SPA is expected to be one of the fastest-growing segments at a CAGR of XX% from 2018 to 2030 owing to rising health and hygiene concerns among consumers around the world, especially millennials who comprise most of this market demographic group. Spas offer personalized services including facials, massages, waxing treatments that enhance skin texture along with relaxation therapies that help patrons de-stress during their stay at luxury hotels spa facilities worldwide.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing strong economic growth on account of increasing FDI flow, tourism development, and rising disposable income of consumers. China is projected to be a key contributor towards regional growth owing to rapid urbanization along with growing middle-class population that prefers quality accommodation for business as well as leisure trips.
Europe accounted for more than 25% share in 2017 owing to high demand from countries including Germany, U.K., Italy, France among others due to their strong presence in the hospitality industry coupled with luxury lifestyle associated with it.
Growth Factors:
- Increasing disposable income of the population: The global luxury hotels market is expected to grow at a CAGR of 5.5% during the forecast period. This can be attributed to the increasing disposable income of the population, especially in developing countries such as China and India.
- Rising number of tourists: The growth in the tourism industry is also expected to drive demand for luxury hotels globally. In 2016, there were 1,235 million international tourist arrivals, and this number is projected to grow at a CAGR of 4% during 2017-2021. This will create opportunities for players in the global luxury hotels market.
- Proliferation of online travel booking platforms: Online travel booking platforms have made it easier for consumers to book hotel rooms online from anywhere across the globe with just a few clicks on their smartphones or laptops/computers connected to internet networks .This has led to an increase in demand for luxury hotel rooms, thereby driving growth in this market segment . Players such as Expedia Inc., Priceline Group Inc., and TripAdvisor Inc are some key players operating in this space .
- 000 annually) are set become an important target customer base for businesses over next five years . They account for 26 percent share fo total global spending today
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Hotels Market Research Report
By Type
Business Hotel, Suite Hotel, Airport Hotel, Resorts Hotel, Luxury Hotel
By Application
Room, F&B, SPA, Other
By Companies
Marriott International, Inc, Hilton, Starwood Hotels & Resorts, Hyatt Hotels, Four Seasons Holdings Inc., Shangri-La International, InterContinental Hotels Group, Mandarin Oriental International, The Indian Hotels Company, Jumeirah International LLC, Kerzner International Resorts, ITC Hotels Limited, Luxury Hotel
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
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Hotels Market Report Segments:
The global Luxury Hotels market is segmented on the basis of:
Types
Business Hotel, Suite Hotel, Airport Hotel, Resorts Hotel, Luxury 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, Other
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, Inc
- Hilton
- Starwood Hotels & Resorts
- Hyatt Hotels
- Four Seasons Holdings Inc.
- Shangri-La International
- InterContinental Hotels Group
- Mandarin Oriental International
- The Indian Hotels Company
- Jumeirah International LLC
- Kerzner International Resorts
- ITC Hotels Limited
- Luxury Hotel
Highlights of The Luxury Hotels 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
- Luxury Hotel
- By Application:
- Room
- F&B
- SPA
- Other
- 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 Luxury Hotels 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.
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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?
Luxury hotels are typically those that offer a higher level of service and amenities than the average hotel. They may have more luxurious rooms, larger bathrooms, or include features like a spa or pool. Some luxury hotels also offer special dining experiences or unique amenities such as private beaches.
Some of the key players operating in the luxury hotels market are Marriott International, Inc, Hilton, Starwood Hotels & Resorts, Hyatt Hotels, Four Seasons Holdings Inc., Shangri-La International, InterContinental Hotels Group, Mandarin Oriental International, The Indian Hotels Company, Jumeirah International LLC, Kerzner International Resorts, ITC Hotels Limited, Luxury Hotel.
The luxury hotels market is expected to register a CAGR of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Luxury Hotels Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Luxury Hotels Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Luxury Hotels Market - Supply Chain
4.5. Global Luxury Hotels Market Forecast
4.5.1. Luxury Hotels Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Luxury Hotels Market Size (000 Units) and Y-o-Y Growth
4.5.3. Luxury Hotels Market Absolute $ Opportunity
5. Global Luxury Hotels Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Luxury Hotels Market Size and Volume Forecast by Type
5.3.1. Business Hotel
5.3.2. Suite Hotel
5.3.3. Airport Hotel
5.3.4. Resorts Hotel
5.3.5. Luxury Hotel
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Luxury Hotels Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Luxury Hotels Market Size and Volume Forecast by Application
6.3.1. Room
6.3.2. F&B
6.3.3. SPA
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Luxury Hotels Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Luxury Hotels Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Luxury Hotels Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Luxury Hotels Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Luxury Hotels Demand Share Forecast, 2019-2026
9. North America Luxury Hotels Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Luxury Hotels Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Luxury Hotels Market Size and Volume Forecast by Application
9.4.1. Room
9.4.2. F&B
9.4.3. SPA
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Luxury Hotels Market Size and Volume Forecast by Type
9.7.1. Business Hotel
9.7.2. Suite Hotel
9.7.3. Airport Hotel
9.7.4. Resorts Hotel
9.7.5. Luxury Hotel
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Luxury Hotels Demand Share Forecast, 2019-2026
10. Latin America Luxury Hotels Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Luxury Hotels Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Luxury Hotels Market Size and Volume Forecast by Application
10.4.1. Room
10.4.2. F&B
10.4.3. SPA
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Luxury Hotels Market Size and Volume Forecast by Type
10.7.1. Business Hotel
10.7.2. Suite Hotel
10.7.3. Airport Hotel
10.7.4. Resorts Hotel
10.7.5. Luxury Hotel
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Luxury Hotels Demand Share Forecast, 2019-2026
11. Europe Luxury Hotels Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Luxury Hotels Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Luxury Hotels Market Size and Volume Forecast by Application
11.4.1. Room
11.4.2. F&B
11.4.3. SPA
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Luxury Hotels Market Size and Volume Forecast by Type
11.7.1. Business Hotel
11.7.2. Suite Hotel
11.7.3. Airport Hotel
11.7.4. Resorts Hotel
11.7.5. Luxury Hotel
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Luxury Hotels Demand Share, 2019-2026
12. Asia Pacific Luxury Hotels Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Luxury Hotels Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Luxury Hotels Market Size and Volume Forecast by Application
12.4.1. Room
12.4.2. F&B
12.4.3. SPA
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Luxury Hotels Market Size and Volume Forecast by Type
12.7.1. Business Hotel
12.7.2. Suite Hotel
12.7.3. Airport Hotel
12.7.4. Resorts Hotel
12.7.5. Luxury Hotel
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Luxury Hotels Demand Share, 2019-2026
13. Middle East & Africa Luxury Hotels Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Luxury Hotels Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Luxury Hotels Market Size and Volume Forecast by Application
13.4.1. Room
13.4.2. F&B
13.4.3. SPA
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Luxury Hotels Market Size and Volume Forecast by Type
13.7.1. Business Hotel
13.7.2. Suite Hotel
13.7.3. Airport Hotel
13.7.4. Resorts Hotel
13.7.5. Luxury Hotel
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Luxury Hotels Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Luxury Hotels Market: Market Share Analysis
14.2. Luxury Hotels Distributors and Customers
14.3. Luxury Hotels Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Marriott International, Inc
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Hilton
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Starwood Hotels & Resorts
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hyatt Hotels
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Four Seasons Holdings Inc.
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Shangri-La International
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. InterContinental Hotels Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Mandarin Oriental International
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. The Indian Hotels Company
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Jumeirah International LLC
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Kerzner International Resorts
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. ITC Hotels Limited
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Luxury Hotel
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook