Luxury Hotel Market By Type (Business Hotels, Airport Hotels, Suite Hotels, Resorts, Others), By Category (Chain, Independent): Global Opportunity Analysis and Industry Forecast, 2020-2031
Luxury hotels provide travelers and tourist an option to enjoy luxurious stay. There are many features which distinguish the luxury hotel with other basic hotels such as en-suite bathrooms. Tourism industry is an ever-growing industry, which has a huge impact on the luxury hotel market. There is a rise in the demand of the luxury hotel due to the changes in preference of customer and upgrade in the services provided by hoteliers. The world luxury hotel market is at growing stage and is expected to be same during the forecast period.
There has been change in the preference of the customers due to which demand for leisure travel is on an increase among the travelers. The world has seen unmatched growth in the luxury hotel industry as there are countries where the standard of living of people is high. There are many luxury hotels, which provide the combination of historical elegance and modern comfort such as spa, pool, and fitness center. Another driver for the world luxury hotel market is the burgeoning travel and tourism industry especially in France, U.S., and Italy. The management of the hotels has come up with innovative ideas regarding the development of new types of rooms such as treetop rooms and underwater rooms. The rise in the lodging price is one of the restraints to the world luxury hotel market. The energy requirement of hotels is on a rise as the guests are given full control over the settings and air conditioning units and they adjust it accordingly without any concern, which is another restraining factor.
The report segments the world luxury hotel market on the basis of type and geography. On the basis of types, the world luxury hotel market can be classified into business hotels, airport hotels, suite hotels, resorts, and others. Based on region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (France Germany, Italy, Spain, UK, and rest of Europe), Asia-Pacific (China, South Korea, Australia, Japan, India, and rest of Asia-Pacific), and LAMEA. Major key players operating in the market are 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, and others.
There has been emergence of new types of hotels, which has led to increase in number of travelers. There are various types of hotels such as Eco Hotel, Scattered Hotel, Tree House Hotel, Ice Hotel, Capsule Hotel, Yurt, and others. Every new hotel comes up with an innovative idea to attract customers. Sustainability is another factor which needs to be taken into consideration while opening up a new type of hotel. There should be introduction with a unique feature being added up to a new hotel or an existing one so as to grab attention of travelers. The table below shows the different types of hotels with different characteristics.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the luxury hotel market analysis from 2020 to 2031 to identify the prevailing luxury hotel market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the luxury hotel market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global luxury hotel market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Business Hotels
Airport Hotels
Suite Hotels
Resorts
Others
By Category
Chain
Independent
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
Rest of Europe
United Kingdom
Asia-Pacific
India
China
Japan
Thailand
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
UAE
Rest of LAMEA
Key Market Players
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
Jardine Matheson Holdings Ltd
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