The Demand For Luxury Hotels Is Anticipated To Be High For The Next Five Years. | Marriott International, Hilton, Starwood Hotels & Resorts (Marriott), Hyatt Hotels, Four Seasons Holdings, Shangri-La International Hotel Management, InterContinental Hotels
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Tourism is travel for pleasure, enjoyment, fun relaxation etc. Demands of hotels continuously increase with increase in number of tourism. Growing travel and tourism industry is one of the key factors which directly responsible for the growth of luxury hotels industry market. In order to meet the increasing customer satisfaction, luxury hotels are constantly striving to improve their services by focusing on changing consumer preferences. Now a day, luxury hotels come under more innovative ideas and luxury facilities to satisfy the needs of customers.
Top Key Players:
Marriott International, Hilton, Starwood Hotels & Resorts (Marriott), Hyatt Hotels, Four Seasons Holdings, Shangri-La International Hotel Management, InterContinental Hotels Group, Mandarin Oriental International, The Indian Hotels Company, Jumeirah International, Kerzner International Resorts, ITC Hotels, Leading Hotels.
Top Impacting Factors:
Rise in Travel & Rourism Industry:
In most of the countries, travel & tourism industry generates the major revenue, and rely on this industry for their GDP share. The tourism industry is driven by social, religious, recreational, knowledgeable, and business purpose; and increase in interest among people to experience adventure & entertainment.
Growth in Preference for Leisure Travel:
Rise in number of travelers globally and change in standard of living fuel the preference for leisure travel. Almost half of the international tourist arrivals are for the purpose of leisure.
Emergence of New Luxury Hotels:
Eco Hotel, Scattered Hotel, Tree House Hotel, Ice Hotel, Capsule Hotel, Yurt, and others have recently emerged, which have led to increase in number of travelers.
Business Hotel Segment Leading in the Luxury Hotel Market:
The business hotels segment is expected to dominate the luxury hotel market, followed by airport hotel throughout the forecast period. These hotels primarily serve business travelers; many tour groups, individual tourists, and small conference groups. Business hotel provides their guests with unified communication capabilities that enable the guests to conduct meetings, group discussions, and connect with associates around the world.
Market segment by Type, the product can be split into
Market segment by Application, Luxury Hotels can be split into
Market segment by Regions/Countries, this report covers
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