Luxury Hotels Market demand and value is increasing in the upcoming year 2021

Groupe GM partnered with prestigious lifestyle brand Jo Malone London for luxury hotels market

Rapid growth in the travel and tourism industry is one of the major factors augmenting the growth of the luxury hotels market. According to the India Tourism Statistics, the number of Foreign Tourist Arrivals (FTAs) in India during 2018 increased to 10.56 million as compared to 10.04 million in 2017. The growth rate in FTAs during 2018 over 2017 was 5.2% as compared to 14.0% during 2017 over 2016. Tourism continues to play an important role as a foreign exchange earner for the country. In 2018, foreign exchange earnings (FEE) from tourism were US$ 28.59 billion as compared to US$ 27.31 billion in 2017, registering a growth of 4.7%.

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Major companies operating in the global luxury hotels market include The Indian Hotels Company Limited, InterContinental Hotels Group plc, Rosewood Hotels & Resorts, Oberoi Hotels & Resorts, Naman Retreat, Jumeirah International LLC, Shangri-La International Hotel Management Ltd., Hyatt Hotels Corporation, Accor S.A, Hilton Hotels & Resorts, and Marriott International, Inc.

North America is expected to hold the major share in the global luxury hotels market and this is attributed to the presence of a large number of hotel chains in the U.S. such as Marriott International, Inc., Shangri-La International Hotel Management Ltd., Hyatt Hotels Corporation, and Hilton. At the same time, Asia Pacific is expected to gain the fastest growth in the near future due to the expansion of the travel & tourism industry. According to WTTC, India ranked 10th among 185 countries in terms of travel & tourism’s total contribution to GDP in 2019. During 2019, the contribution of travel & tourism to GDP was 6.8% of the total economy, ~ Rs. 13, 68,100 crore (US$ 194.30 billion).

1. In April 2021, SH Hotels & Resorts, a subsidiary of global private investment firm Starwood Capital Group announced the launch of MISSION by SH™, a cause-driven rewards program that allows guests to offset the climate impact of their stay by donating their reward dollars toward carbon offset projects

2. In May 2019. Groupe GM, the international player in the hotel amenity industry, has signed a partnership with the prestigious lifestyle brand Jo Malone London. Through this collaboration, Groupe GM will be able to offer hotel guests worldwide a new range of luxury amenities
Luxury Hotels are luxurious accommodations that offer excellent amenities and services. A luxury hotel is usually an establishment that offers paid accommodation on a long-term basis. Basic facilities offered inside a typical hotel room can range from a basic, low-grade mattress in a tiny room to huge, airy suites with many more facilities such as televisions, exercise equipment, etc. Most luxury hotels have gyms, swimming pools, restaurants, meeting rooms, and business centers inside the hotel itself. Some luxury hotels have shopping centers and restaurants outside the hotel. Luxury hotels usually have top-class maids and staff to take care of your needs such as cleaning and laundry, etc.

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Market Taxonomy

On the basis of hotel type, the global luxury hotels market is segmented into:

Business Hotels
Airport Hotels
Suite Hotels
Resorts & Spa
Others

On the basis of operating channel, the global luxury hotels market is segmented into:

Online
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