Transparency Market
Research has recently published a new research report, titled “Luxury
Hotels Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2015 - 2021”. According to the research
report, the global luxury hotels market was valued at US$148.62 bn in
2014 and is likely to reach US$195.27 bn by 2021, surging at a CAGR
of 4.0% from 2015 to 2021.
Luxury travel has
given birth to luxury hotels that are characterized by a high-end
experience at a premium price. Defined by luxury features such as
en-suite bathrooms, swimming pool, and the highest levels of
professional and personalized service, luxury hotels have become the
epicenter of revenues earned by the overall hospitality industry.
Luxury hotels are usually classified on the basis of Four Diamond or
Five Diamond depending on the facilities they may have.
Changing lifestyles
due to rising disposable incomes have accelerated the demand for
luxurious services during holidays and travel. As more and more
consumers are showing a keen interest in materializing their
aspirations of luxury living, they are spending lavishly on the same.
With a wide range of expectations from the world of luxury services,
consumers are opting for luxury resorts and hotels over regular bed
and breakfast accommodations. The global luxury hotels market is also
being propelled by the growing number of international events and
strong branding and advertising strategies implemented by these
hotels across the globe.
The global luxury
hotels market is segmented on the basis of type and geography. On the
basis of type, this market is segmented into suite hotels, business
hotels, airport hotels, resorts, and others. Geographically, this
market is segmented into Europe, North America, Asia Pacific, and
Rest of the World.
Out of all the types
of luxury hotels, the business hotels segment held the biggest share
in the overall market in 2014. Between 2015 and 2021, this segment is
expected to surge at a CAGR of 3.8%. In the coming years, this
segment is expected to cater to the burgeoning class of business
travelers and conference groups that are backed by a corporate budget
to spend on living in foreign countries. Meanwhile, the airport
hotels segment will rise at a steady CAGR of 3.7% during the forecast
period. The global luxury hotels market will receive a huge impetus
from ubiquitous promotional activities, strong branding strategies,
and increasing investment in online advertising.
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Some of the
Important Players in the global luxury
hotels market are Shangri-La International Hotel Management Ltd.,
Four Seasons Holdings Inc., ITC Hotels Limited, InterContinental
Hotels Group PLC, Starwood Hotels & Resorts, Mandarin Oriental
International Limited, Jumeirah International LLC, The Indian Hotels
Company Limited, Marriott International, Inc., and Kerzner
International Resorts, Inc. The research report provides a thorough
analysis of the competitive landscape of the luxury hotels market and
the regulatory framework governing the industry. Additionally, the
research report also provides an insight into the management styles,
business and marketing strategies, branding strategies, key mergers
and acquisitions, and investment outlooks of these top players in the
global luxury hotels market.
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Transparency Market
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With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
