Luxury Hotel Market Report, Size, Future Scope, Growth Rate and Forecast 2021-2026

According to IMARC Group latest report titled” Luxury Hotel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited moderate growth during 2015-2020. The global luxury hotel market size to grow at a CAGR of around 6% during 2021-2026. Luxury hotels refer to commercial establishments providing luxurious and high-end lodging facilities to travelers, tourists, and guests. They commonly include business, airport, and suite hotels and resorts, etc. Luxury hotel accommodations offer various lavish services, including spas, swimming pools, dine-in restaurants, salons, private beaches, fitness centers, etc. They also provide convenient and discreet check-in and check-out, laundry, concierge services, smart planning and booking, babysitting, etc. Luxury hotels have exclusive designer interiors manufactured utilizing state-of-the-art technologies, flat-screen televisions (TVs), artisan toiletries, etc., to enhance the guest experience.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends

The expanding tourism and hospitality sectors are primarily driving the luxury hotel market across the globe. Furthermore, the growing preferences for weekend getaways among the working population and their changing lifestyle patterns are also propelling the market growth. Additionally, the escalating demand for staycations and weekend trips in luxury hotels for remote working is further augmenting the global market. Besides this, increasing social media penetration and rising collaborations between hotels and and influencers are also catalyzing the product demand. Several other factors, such as the rising expenditure capacities of the consumers and the growing development of eco-friendly luxury hotels, are anticipated to further propel the luxury hotel market over the forecasted period.

Explore full report with table of contents: https://www.imarcgroup.com/luxury-hotel-market

Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

Accor
Belmond Ltd.
Four Seasons Hotels Limited
Hyatt Hotels Corporation
InterContinental Hotels Group plc
ITC Limited
Jumeirah International LLC
Mandarin Oriental Hotel Group Limited
Marriott International Inc
Rosewood Hotels and Resorts L.L.C.
Shangri-La International Hotel Management Ltd.
The Indian Hotels Company Limited

Luxury Hotel Market Segmentation:

Our report has categorized the market based on region, type, room type and category.

Breakup by Type:

Business Hotels
Airport Hotels
Suite Hotels
Resorts
Others

Breakup by Room Type:

Luxury
Upper-Upscale
Upscale

Breakup by Category:

Chain
Independent

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

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