Luxury Hotels Market 2021-2026 skyrocketed revenue with key players ITC Hotels Limited, Shangri-La International Hotel Management Ltd

Latest research on Luxury Hotels Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2020 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Luxury Hotels market. this report included a special section on the Impact of COVID19. Also, Luxury Hotels Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Luxury Hotels industry.

The Luxury Hotels Market is estimated to grow at a CAGR of 9.3% during the forecast period over the forecast period, 2021 - 2026.

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Top Companies in the Global Luxury Hotels Market: –

ITC Hotels Limited, Shangri-La International Hotel Management Ltd., The Indian Hotels Company Limited, Taj Hotels, Marriott International, Hyatt Hotels, Jumeirah International LLC, Mandarin Oriental International Limited, Kerzner International Resorts, InterContinental Hotels Group PLC, Four Seasons Holdings, Hilton,*

Market Overview:

The rise in the travel and tourism industry and changing patterns in the standard of living have led to progressive growth in the luxury hotel market trends. The demand for luxury hotels varies with the type of properties and is influenced by factors such as location, size, and on-site properties. Rising disposable income, popularizing weekend culture, the introduction of low-cost airline services, and the booming service sector are expected to drive the market. The inflation in purchasing power and standard of living are some of the key constituents responsible for attracting customers toward luxury resorts. Hosting sports events by a city or country is also a significant factor propelling the demand for luxury accommodations. Sports teams, as well as spectators traveling from different destinations for the tournament, tend to book their stays in luxury hotels, leading to a surge in the number of bookings.

Regional Outlook:

The North America market size stood at USD 30.66 billion in 2020. Increasing spending on extravagant lodging in the U.S. and Canada contributes to greater revenue generation, making North America a dominant region in the luxury hotel market share.

Europe is expected to hold a considerable market share due to the presence of some of the most visited tourist destinations in the world. For instance, as per International Tourism Highlights 2019 Edition of the UNWTO, Europe accounted for 50% of international tourist arrivals in 2018 globally.

Industry News And Developmet:

in August 2019, Marriott International announced the removal of single-use bottles of bath gels and shampoos & conditioners from all of its properties present globally. By eliminating the use of such tiny bottles, the hotel company aims to reduce the current plastic usage in the amenities department by about 30%.

April 2018, Accor Hotels signed an agreement with Mantis Group, a South Africa-based hospitality and travel company. Accor acquired a 50% stake in Mantis Group under the agreement that would increase Accor’s foothold in Africa.

Global Luxury Hotels Market Segmentation by Types:

Business
Airport
Holiday
Resorts & Spas
Others

Global Luxury Hotels Market Segmentation by Applications:

Room
F&B
SPA
Others

Regional Analysis:

Furthermore, to broaden the understanding, researchers have studied the global Luxury Hotels market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.

Luxury Hotels Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.

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Following are major Table of Content of Luxury Hotels Industry:

Luxury Hotels Market Sales Overview.
Luxury Hotels Market Sales Competition by Manufacturers.
Luxury Hotels Market Sales Analysis by Region.
Luxury Hotels Market Sales Analysis by Type.
Luxury Hotels Market Analysis by Application.
Luxury Hotels Market -Manufacturers Analysis.

Reasons to Invest:

Market Size Forecasts: The authors of the report have provided accurate estimation of the global Luxury Hotels market size based on value and volume
Market Trend Analysis: This section of the report throws light on the approaching trends and developments in the global Luxury Hotels market
Future Prospects: The report here offers crucial information on the rewarding opportunities in the global Luxury Hotels market

This allows an understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences and the vendor landscape of the overall market.

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