Global Luxury Hotel Market 2022 Research Report initially provides a basic overview of the industry that covers definition, applications and manufacturing technology, post which the report explores into the international players in the market.
Global Luxury Hotel Market was worth US$ 91.79 Bn. in 2021 and total revenue is expected to grow at a rate of 5.1 % CAGR from 2021 to 2029, reaching almost US$ 136.66 Bn. in 2029.
Luxury Hotel Market Overview:
The industry is expected to be driven by expanding business and tourist industries across several regions, rising disposable income, rising living standards, and a rise in consumer desire for leisure travel. Some of the key factors responsible for drawing customers to luxury resorts are the rise in purchasing power and living standards. As the economy continues to grow, there is a growing need for opulent locations for business meetings and leisure travel.
The purpose of this study is to provide a thorough overview of the Luxury Hotel market by component, application, industry, and geography. The article goes into great detail about the primary factors influencing the Luxury Hotel market's growth. The report also includes a comprehensive examination of the market's value chain.
Market Scope:
Secondary research is used to assess and predict the Luxury Hotel industry, and it begins with sources that gather revenue data from major suppliers. When assessing market segmentation, vendor offerings are also considered. Using the bottom-up approach, the entire size of the Luxury Hotel market was calculated using the income of major enterprises.
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Segmentation:
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 2021. 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.
Key Players:
We investigated the Luxury Hotel Market from every angle, including both primary and secondary research methods. This improved our grasp of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, consumer behaviours, and so on. Following that, the data is collated and evaluated using a variety of market estimation and data validation approaches. In addition, we have an in-house data forecasting engine that predicts market growth until 2027.
The major players covered in the Luxury Hotel market report 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
• Paracas
• Mandarin Oriental.
• The Oberoi.
• Nobu Ryokan T.
• Taj Holiday Village Resort & Spa.
• Mahali Mzuri
• Nayara Tented Camp
Regional Analysis:
Market share information for North America, Europe, Asia-Pacific, the Middle East, Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.
COVID-19 Impact Analysis on Luxury Hotel Market:
Aerospace and defence, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance are among the industries affected by the COVID-19 epidemic. COVID-19 has had an impact on the Luxury Hotel market as a whole, as well as the growth rate in 2019-2020 as COVID-19's impact spreads. Our most recent research, perspectives, and management knowledge are critical to the enterprises and associations in the Luxury Hotel sector, which is pushing through the COVID-19 emergency to deal with the danger of digitization employment in order to provide trustworthy facts and experiences to CEOs.
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Key Questions Answered in the Luxury Hotel Market Report are:
- Which segment captured the most market share in the Luxury Hotel market?
- What was the Luxury Hotel market's competitive environment in 2021?
- What are the primary elements driving the Luxury Hotel market's growth?
- In 2021, which region had the most proportion of the Luxury Hotel market?
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