Luxury Hotel Market was worth US$ 96.47 Bn. in 2022 and total revenue is expected to grow at a rate of 5.1 % CAGR from 2023 to 2029, reaching almost US$ 136.65 Bn. in 2029.Luxury Hotel Market Overview:
Developing tourism & corporate industries through several regions, increasing disposable income, growing standard of living of individuals, & increase in preference for leisure travel are anticipated to push the market. The increase in buying power & standard of living are some of the significant influences accountable for attracting consumers toward luxury resorts. As more currency is being added into the economy, demand for luxury places for business events & leisure tours is rising.To know about the Research Methodology :- Request Free Sample Report Hosting of sports events by country has also been a key influence pushing the demand for luxury places. Sports players, as well as audiences traveling from many destinations for the competition, tend to book their halts in luxury hotels, therefore leading to an increase in the number of bookings. For example, luxury hotel chains in Qatar are supposed to be gearing up for FIFA World Cup 2022. Key players in the market are investing greatly in infrastructure & raise their property with the modern equipment to improve aesthetics & complete comfort offered to consumers. Control4 Corporation; Crestron Electronics, Inc.; & AMX LLC are some of the key firms providing automation solutions for regulatory lighting, security, entertaining, energy, & other connected equipment with an IoT ecosystem. For example, Luxury Hotel and Casino in Sydney bids whole guest control for their one hundred seventy four luxury suites. The suites are combined with a Control4 system which enables consumers to control the TV, music system, AC, curtains, & lights wirelessly through mobile Apps. The system also includes light sensors which help save energy by changing lights off after 30 minutes of the room being empty. In Colorado, Gateway Canyon Resort has mounted an automation system by Crestron Electronics, Inc. for monitoring & watching electrical fittings & electronics of its lodgings.
Type segment Overview:
On the basis of type, the market is segmented by business, airport, holiday, resorts & spas. The business sector accounted for the major revenue share of about 35 percent in the year 2022. The resorts & spas sector is expected to show a CAGR of over 5 percent during the forecast period. With a rising preference for leisure travel, there is a major growth in demand for holiday resorts & spas which are particularly designed to support guests relax & take a break daily schedules. For example, Singapore’s Changi Airport Terminal three is measured as one of the famous luxury airport hotels with services like a spa which bids reflexology to overcome jet lag, a gym, & a swimming pool edged by rainforest-style grounds. Other standard properties contain Regal Airport Hotels, Sofitel London Heathrow & Hilton Frankfurt Airport. Major companies in the market separate themselves by classifying their properties into different themes like spa resorts, sea & spa resorts, and beach resorts to attract consumers. For example, the Sofitel Agadir Thalassa Sea and Spa in Morocco shows peace with shades of white & black & the use of a combination of Moroccan culture & modern styles. A private terrace suite, isolated beach, & private garden are some of the attractive features of this resort.Regional Overview:
The North American region ruled the luxury hotel market with a revenue share of above 35 percent in the year 2022, & this trend is anticipated to continue during the forecast period. The United States accounted for the major revenue share in luxury hotel market in the year 2022 as it is an international financial hub & one of the famous tourist places for individuals across the world. The APAC region is expected to see the highest development rate during the forecast period. The Europe market has been gaining fame due to government edges for the raise of tourism in their nation & domestic regions by increasing awareness about its historical implication. For example, the ironic history of European countries like the U.K., Spain, Italy, & France, is a key influence pouring the Europe market towards the north. Increasing income of individuals in emerging economies like India, China, Thailand, Brazil, & South Africa is expected to push the travel industry, therefore having a promising impact on the total market. Republics facing political turmoil, economic disasters, & strict FDI rules are expected to see slow market development.Luxury Hotel Market Overview:
Key companies in the luxury hotel market contain Four Seasons Holdings Inc, Intercontinental Hotels Group, Marriott International Inc, Hyatt Corporation, ITC Hotels Limited, Shangri-La International Hotel Management Ltd., Jumeirah International LLC, The Indian Hotel Companies Limited, Paracas, Mandarin Oriental. , The Oberoi., Nobu Ryokan T., Taj Holiday Village Resort & Spa., Mahali Mzuri. Among the main competitors, Marriott International, Inc. donated expressively to the total market revenue in the year 2022. Some of the famous brands below the Marriot group are JW Marriott, Fairfield Inn & Suites, and Four Points and many more. Market companies enter into M&A & strategic partnerships to increase their geographical footprint. For example, in year 2017, Accor Hotels declared its strategic partnership with Rixos Hotels to increase its topographical footprint in different countries with Russia, Egypt, UAE, & Turkey. The objective of the report is to present a comprehensive analysis of the Luxury Hotel Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Luxury Hotel Market dynamics, structure by analyzing the market segments and project the Luxury Hotel Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Luxury Hotel Market make the report investor’s guide.Luxury Hotel Market Scope: Inquire before buying
Global Luxury Hotel Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 96.47 Bn. Forecast Period 2023 to 2029 CAGR: 5.1% Market Size in 2029: US $ 136.65 Bn. Segments Covered: by Type Business Airport Holiday Resorts & Spas Others Luxury Hotel Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)Luxury Hotel Market, Key Players are
1. Four Seasons Holdings Inc 2. Intercontinental Hotels Group 3. Marriott International Inc 4.Hyatt Corporation 5. ITC Hotels Limited 6. Shangri-La International Hotel Management Ltd. 7. Jumeirah International LLC, 8. The Indian Hotel Companies Limited 9. Paracas 10. Mandarin Oriental. 11. The Oberoi. 12. Nobu Ryokan T. 13. Taj Holiday Village Resort & Spa. 14. Mahali Mzuri 15. Nayara Tented CampFrequently Asked Questions:
1) What was the market size of Luxury Hotel Market markets in 2022? Ans - Luxury Hotel Market was worth US$ 96.47 Bn in 2022. 2) What is the market segment of Luxury Hotel Market markets? Ans -The market segments are based on Type & Region. 3) What is forecast period consider for Luxury Hotel Market? Ans -The forecast period for Luxury Hotel Market is 2023 to 2029. 4) Which are the worldwide major key players covered for Luxury Hotel Market report? Ans – Four Seasons Holdings Inc, Intercontinental Hotels Group, Marriott International Inc Hyatt Corporation, ITC Hotels Limited, Shangri-La International Hotel Management Ltd. Jumeirah International LLC, The Indian Hotel Companies Limited, Paracas, Mandarin Oriental. The Oberoi., Nobu Ryokan T., Taj Holiday Village Resort & Spa. Mahali Mzuri , Nayara Tented Camp. 5) Which region is dominated in Luxury Hotel Market? Ans -In 2022, Asia pacific region dominated the Luxury Hotel Market.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Luxury Hotel Market Size, by Market Value (US$ Bn) 3.1. Market Segmentation 3.2. Market Segmentation Share Analysis, 2021 3.2.1. 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Luxury Hotel Market 3.4. Geographical Snapshot of the Luxury Hotel Market , By Manufacturer share 4. Luxury Hotel Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on Luxury Hotel Market 5. Supply Side and Demand Side Indicators 6. Luxury Hotel Market Analysis and Forecast, 2022-2029 6.1. Luxury Hotel Market Size & Y-o-Y Growth Analysis. 7. Luxury Hotel Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 7.1.1. Business 7.1.2. Airport 7.1.3. Holiday 7.1.4. Resorts & Spas 7.1.5. Others 8. Luxury Hotel Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Luxury Hotel Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 9.1.1. Business 9.1.2. Airport 9.1.3. Holiday 9.1.4. Resorts & Spas 9.1.5. Others 10. North America Luxury Hotel Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Luxury Hotel Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 12. Canada Luxury Hotel Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 13. Mexico Luxury Hotel Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 14. Europe Luxury Hotel Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 15. Europe Luxury Hotel Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Luxury Hotel Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 17. France Luxury Hotel Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 18. Germany Luxury Hotel Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 19. Italy Luxury Hotel Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 20. Spain Luxury Hotel Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 21. Sweden Luxury Hotel Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 22. CIS Countries Luxury Hotel Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 23. Rest of Europe Luxury Hotel Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 24. Asia Pacific Luxury Hotel Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 25. Asia Pacific Luxury Hotel Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Luxury Hotel Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 27. India Luxury Hotel Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 28. Japan Luxury Hotel Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 29. South Korea Luxury Hotel Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 30. Australia Luxury Hotel Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 31. ASEAN Luxury Hotel Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 32. Rest of Asia Pacific Luxury Hotel Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 33. Middle East Africa Luxury Hotel Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 34. Middle East Africa Luxury Hotel Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Luxury Hotel Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 36. GCC Countries Luxury Hotel Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 37. Egypt Luxury Hotel Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 38. Nigeria Luxury Hotel Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 39. Rest of ME&A Luxury Hotel Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 40. South America Luxury Hotel Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 41. South America Luxury Hotel Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Luxury Hotel Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 43. Argentina Luxury Hotel Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 44. Rest of South America Luxury Hotel Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Luxury Hotel 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Four Seasons Holdings Inc. 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Intercontinental Hotels Group 45.3.3. Marriott International Inc 45.3.4. Hyatt Corporation 45.3.5. ITC Hotels Limited 45.3.6. Shangri-La International Hotel Management Ltd. 45.3.7. Jumeirah International LLC, 45.3.8. The Indian Hotel Companies Limited 45.3.9. Paracas 45.3.10. Mandarin Oriental. 45.3.11. The Oberoi. 45.3.12. Nobu Ryokan T. 45.3.13. Taj Holiday Village Resort & Spa. 45.3.14. Mahali Mzuri 45.3.15. Nayara Tented Camp 45. Primary Key Insights