Global Luxury Hotel Market 2021 (Includes Business Impact of COVID-19)

  • TBI776292
  • September 16, 2021
  • Global
  • 149 pages
  • Market.US
                                          

Report updated on 11th September, 2021: Global Luxury Hotel Market 2021 (Includes Business Impact of COVID-19)

Global Luxury Hotel Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global luxury hotel market report has been segmented as per hotel type, and region. Request Covid - 19 Impact The global Luxury Hotel market size was valued at USD $118.04 billion in 2020 and is projected to reach $208.47 billion by 2030, and is anticipated to expand at a CAGR of 5.70% over the forecast period from 2020 to 2030.

Global Luxury Hotel Market: Overview

Luxury hotel provides luxurious accommodation along with various services such as bar, spa, gym, swimming pool, barbeque, private beach along with sunbed, and some other services according to the comfort and desire of end user. There are various types of hotels available across the globe as per tourist requirements such as suite hotels, business hotels, airport hotels, spa hotels, and holiday hotels.

Global Luxury Hotel Market: Dynamics

Growing tourism industry in multiple regions across the globe, rising disposable income, increasing inclination towards the leisure travel among individuals are major factors expected to fuel growth of the global market over the forecast period. In addition, rising standard of living, rising weekend cultural engagement, and rising tourism promotional activities by luxurious hotels are some key factors expected to support the growth of the target market. Growing demand for opulence accommodations for various purposes such as corporate events and corporate stay are some major factors driving growth of the global luxury hotel market during forecast period. In addition, growing economies of developing countries, rising hosting and organization of various sports events such as FIFA World Cup and Cricket World Cup by many countries are key factors expected to boost growth of the global market in the next 10 years. Furthermore, growing travel and tourism industry, growing family vacation trips, business trips, religious purpose trips and adventure trips across the globe are other factors fueling growth of the target market. However, factors expected to restraint growth of the global market includes, increasing terrorist threats, rising trend towards competitive pricing across the globe, and stringent rules associated with FDI (foreign direct investment).

Global Luxury Hotel Market: Segment Analysis

Among the hotel type, business hotel segment is accounted for highest share in terms of revenue in the global market, owing to rapidly increasing travel and tourism sector, rising disposable income of individuals, and increasing business trips across the globe.

Global Luxury Hotel Market: Region Analysis

The market in North America is expected to account for highest revenue share in the global market over the forecast period. High availability of luxury hotels, well established travel and tourism industries, increasing preference for entertainment and adventure trips among individuals, and high disposable income in countries such as US and Canada in the region are factors supporting growth of the target market in North America region. Asia Pacific is expected to witness a highest growth in terms of CAGR in the target market, owing to increasing standard of living and disposable income in emerging countries such as India, China, and other countries in the region. Market in Europe, Latin America, and Middle East & Africa expected to witness moderate growth in terms of revenue, owing to increasing promotional activities of tourism by the government and rising business trips in countries in the region.

Global Luxury Hotel Market Segmentation:

Segmentation by hotel type:
  • Airport Hotels
  • Suite Hotels
  • Business Hotels
  • Resorts & Spa Hotels

Key Market Players included in the report:

  • Accor SA (Issy-les-Moulineaux, France)
  • Belmond Ltd.
  • Four Seasons Hotel Limited (Toronto, Canada)
  • Hilton Hotels & Resorts (McLean, U.S.)
  • Hyatt Hotels Corporation (Chicago, U.S.)
  • InterContinental Hotels Group plc (Denham, U.K.)
  • ITC Hotels Limited
  • Jumeirah International LLC
  • Kempinski Hotels S.A. (Geneva, Switzerland)
  • Mandarin Oriental Hotel Group (Quarry Bay, Hong Kong)
  • Marriott International, Inc. (Maryland, U.S.)
  • Shangri-La International Hotel Management Ltd.
  • Taj Hotels Palaces Resorts Safari
  • The Indian Hotel Companies Limited
  • The Indian Hotels Company Limited (Mumbai, India)

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Research Methodology                  1.2. Research Scope & Assumptions                  1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Luxury Hotel Market Outlook                  3.1. Market Segmentation                  3.2. Market Size and Growth Prospects, 2016 - 2027                  3.3. Value Chain Analysis                  3.4. Market Dynamics                      3.4.1. Market driver analysis                      3.4.2. Market restraint analysis        
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