Global Luxury Hotel Market Study Analysis: Luxurious services segment will boost the growth of the market in the forecast period

The global Luxury Hotel market size was valued at $ 93.35 Billion in 2019 and is expected to reach $ 123.47 Million by 2027 growing at the CAGR of 4.1% from 2019 to 2027. Luxury Hotels can be defined as a hotel that provides luxurious stay along with various other services. They provide services such as swimming pools, barbeque, spa, gyms, bar, and other services as per the wish and luxury of customers. In Luxury Hotels the services and dining are expected to be of high quality and usually, guests are high-paying one.

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Global Luxury Hotel Market Drivers And Restrain:
Growth in the travel & tourism industry, growth in preference for leisure travel, and increasing disposable income increase the demand for such hotels.

Rise in Travel & Tourism Industry
Travel & Tourism Industry produces the major revenue in most of the countries, and they depend on this industry for their GDP share. Increasing Preferences of customers for leisure travels creates the growth of this market. A rise in income and standard of living of people also contributes towards the growth of this sector.
The market is hampered by the political pressure, economic crisis, and strict regulation of foreign direct investment(FDI)

Impact Of COVID-19 on the Luxury Hotel Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Luxury Hotel Market Segments:
The global Luxury Hotel market is further segmented into usage, type and geography.
By Type: Business Hotels, Airport Hotels, Suite Hotels, Resorts

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)

In 2020, North America dominated the market as it has the most popular places for customers.
Key Players of Global Luxury Hotel Market:
• FOUR SEASONS HOLDINGS INC.
• INTERCONTINENTAL HOTELS GROUP
• MARRIOTT INTERNATIONAL INC.
• HYATT CORPORATION
• ITC HOTELS LIMITED
• SHANGRI-LA INTERNATIONAL HOTEL MANAGEMENT LTD
• JUMEIRAH INTERNATIONAL LLC
• THE INDIAN HOTEL COMPANIES LIMITED

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Luxury Hotel Market
• Value Chain Analysis of Global Luxury Hotel Market
• What is the CAGR of the global Luxury Hotel Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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