Luxury Hotel Market Expected to Reach $20,442 Million, By Leading Industry Players Four Seasons Holdings Inc., Intercontinental Hotels Group, Marriott International Inc., Hyatt Corporation., ITC Hotels Limited, Shangri-La International Hotel Management Lt

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.

According to a new report published by Allied Market Research, titled, "Luxury Hotel Market: Global Opportunity Analysis and Industry Forecast, 2014-2022", the luxury hotel market was valued at $15,535 million in 2015, and is projected to reach $20,442 million by 2022, growing at a CAGR of 4.0% from 2016 to 2022. The business hotels segment accounted for around 42% of the total market revenue in 2015.

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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.

Key Benefits

• This report provides insights on current and future trends of luxury hotel industry from 2016 to 2022.
• Market intelligence for key developmental strategies adopted by established brands are explained with impact analysis.
• This report provides a practical evaluation of key market drivers and restraints for global market.
• This report emphasizes on key factors that affect the market growth and reveals the influencing factors to capitalize on.

List of Tables

TABLE 1 WORLD LUXURY HOTELS MARKET SNAPSHOT
TABLE 2 TABLE 1 NEW TYPES OF HOTEL
TABLE 3 WORLD AIRPORT HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 4 NORTH AMERICA AIRPORT HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 5 EUROPE AIRPORT HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 6 ASIA PACIFIC AIRPORT HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 7 LAMEA AIRPORT HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 8 WORLD RESORTS HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 9 NORTH AMERICA RESORTS HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 10 EUROPE RESORTS HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 11 ASIA PACIFIC RESORTS HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 12 LAMEA RESORTS HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 13 WORLD BUSINESS HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 14 NORTH AMERICA BUSINESS HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 15 EUROPE BUSINESS HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 16 ASIA PACIFIC BUSINESS HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 17 LAMEA BUSINESS HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 18 WORLD SUITE HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 19 NORTH AMERICA SUITE HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 20 EUROPE SUITE HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 21 ASIA PACIFIC SUITE HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 22 LAMEA SUITE HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 23 WORLD OTHER HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 24 NORTH AMERICA OTHER HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 25 EUROPE OTHER HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 26 ASIA PACIFIC OTHER HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 27 LAMEA OTHER HOTELS MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 28 NORTH AMERICA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 29 U.S. LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 30 CANADA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 31 MEXICO LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 32 EUROPE LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 33 SPAIN LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 34 FRANCE LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 35 ITALY LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 36 U.K LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 37 GERMANY LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 38 REST OF EUROPE LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 39 APAC LUXURY HOTEL MARKET, ($MILLION), GROWTH (%)2014-2022
TABLE 40 INDIA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 41 CHINA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 42 SOUTH KOREA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 43 JAPAN LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 44 THAILAND LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 45 REST OF ASIA-PACIFIC LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 46 LAMEA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 47 LATIN AMERICA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 48 MIDDLE EAST LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 49 AFRICA LUXURY HOTEL MARKET, ($MILLION), GROWTH (%) 2014-2022

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