Luxury Hotel Market Growing at a CAGR of 4.0% - Competitive Analysis of Leading Market Players - Four Seasons Holdings Inc., Intercontinental Hotels Group, Marriott International Inc., Hyatt Corporation., ITC Hotels Limited, Shangri-La International Hotel

Rise in number of business travelers and change in customer lifestyles have fueled the demand for luxury stays, with an increased trend for various luxury services such as spa and others. North American and European regions dominate the market due to higher number of tourist arrivals.

Luxury hotels provide luxurious stay along with various other services such as swimming pool (warm & fresh water), barbeque, spa, gyms, bar and other tailor made services as per the desire and comfort of customers. Several such hotels also provide private garden or private area on beach along with personal sunbeds, to distinguish themselves from other players. The global luxury hotel market generated revenue of $15,535 million in 2015, and is expected to grow at a CAGR of 4.0% to reach $20,442 million by 2022. Rise in travel & tourism industry, growth in preference for leisure travel, and change in standard of living have led to progressive luxury hotel market trends.

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Luxury hotels provide comfortable stay to tourist and travelers along with services such as spa, swimming pool, and fitness center. The market for luxury hotel has grown significantly in the past few years due to rise in the number of business travelers globally. Change in customer preference and upgradation in the services provided by hoteliers further boost the demand for luxury stays.

The global luxury hotel market is driven by rise in travel & tourism industry, increase in preference for leisure travel, and improved standard of living. However, premium price charged by such hotels restrains the market growth. According to Sheetanshu Upadhayay, Research Analyst at Allied Market Research, Rise in number of business travelers and change in customer lifestyles have fueled the demand for luxury stays, with an increased trend for various luxury services such as spa and others. North American and European regions dominate the market due to higher number of tourist arrivals.

Business hotels segment is expected to dominate the market throughout the analysis period, owing to huge consumer base, which includes business travelers, tour groups, and small conference groups.

Airport hotels segment accounted for around 20% share of the overall luxury hotel market revenue in 2015, and is expected to grow at a CAGR of 3.7% during the forecast period. These hotels usually target business clients, passengers with overnight travel or cancelled flights, and airline crews or staff.

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In 2015, North America and Europe collectively accounted for around two-thirds of the total luxury hotel market size, and are expected to continue to dominate the market due to increase in number of tourists and travelers.

The major companies profiled in the report include Four Seasons Holdings Inc., Intercontinental Hotels Group, Marriott International Inc., Hyatt Corporation., ITC Hotels Limited, Shangri-La International Hotel Management Ltd., Jumeirah International LLC, and The Indian Hotel Companies Limited.

List of Figures

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP WINNING STRATEGIES IN THE WORLD LUXURY HOTEL MARKET (2013-2016)
FIG. 3 TOP WINNING STRATEGIES (%) (2013-2016)
FIG. 4 TOP INVESTMENT POCKETS
FIG. 5 PORTER’S FIVE FORCES ANALYSIS OF WORLD LUXURY HOTELS MARKET
FIG. 6 INTERNATIONAL TOURIST ARRIVALS (2012-2014)
FIG. 7 INTERNATIONAL TOURIST ARRIVAL FOR LEISURE (2012-2014)
FIG. 8 ANNUAL GROWTH RATE OF PER-CAPITA-INCOME IN KEY COUNTRIES
FIG. 9 REASONS FOR RISE IN PRICE OF LODGING
FIG. 10 WORLD LUXURY HOTEL MARKET BY TYPE, 2015
FIG. 11 WORLD AIRPORT HOTEL MARKET ($ MILLION), GROWTH (%), 2014-2022
FIG. 12 WORLD RESORTS HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 13 WORLD BUSINESS HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 14 WORLD SUITE HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 15 WORLD OTHERS HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 16 WORLD LUXURY HOTEL MARKET BY GEOGRAPHY, 2015
FIG. 17 NORTH AMERICA LUXURY HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 18 EUROPE LUXURY HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 19 ASIA-PACIFIC LUXURY HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022
FIG. 20 LAMEA LUXURY HOTEL MARKET, ($ MILLION), GROWTH (%) 2014-2022

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