Luxury Hotels Market Size and Forecast, Key Trends, Company Profiles, 2023 Update

Luxury Hotels Market Size and Forecast, Key Trends, Company Profiles, 2023 Update

Summary

GlobalData’s Luxury Hotels Market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the luxury accommodation market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the market’s leading players and looks at how companies can better meet their customers' needs.

Key Highlights

In overall luxury hotel revenue during xx, xx% ($xx billion) of overall revenue was contributed by Asia-Pacific, followed by the European region with a contribution of xx%. During xx, China ranks in the first position with the highest revenue within the Asia-Pacific region with $xx billion, which is expected to exceed its pre-pandemic level by xx. After China, Japan ranked in second place with the second highest luxury hotel revenue, which was $xx billion in xx.

Due to the increase in demand for hotels, the overall luxury hotel revenue in the Americas reached $xx million in xx and $xx million in xx, which exceeded its pre-pandemic level. The US is the major contributor to luxury hotel revenue in the Americas, with a share of xx% ($xx million) in xx with a room occupancy rate of xx%.

During xx, the overall room occupancy rate in the Americas region reached xx%, with Costa Rica having the highest room occupancy rate with xx%, followed by Colombia with xx%.

During xx, revenue from leisure travel in luxury hotels in Europe was $xx million, which contributed xx% of the overall luxury hotel revenue, followed by business purposes with a contribution of xx% ($xx million). During xx, the room occupancy rate in the European region reached xx%, with Belgium having the highest occupancy rate at xx%.

Overall luxury hotel revenue in the Middle East & Africa region has reached $xx million in xx, which has exceeded the pre-pandemic level of revenue. As per GlobalData forecasts, it is expected that the luxury hotel revenue in the Middle East & Africa will reach $xx million by xx.

Reasons to Buy

• Understand the impact of COVID-19 on this market
• Gauge which are the biggest and most promising regional markets for the luxury accommodation market
• Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
• Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.