Luxury Hotel Market Size, Competitive Analysis, Historical & Forecast Analysis 2023-2030: BrainStorm Market Research

The market for luxury hotel has grown significantly in the past few years due to rise in the number of business travelers globally.

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Change in customer preference and upgradation in the services provided by hoteliers further boost the demand for luxury stays. merging tourism and corporate industries across various regions, rising disposable income, increasing standard of living of people, and rise in preference for leisure travel are expected to drive the market.

The rise in purchasing power and standard of living are some of the key factors responsible for attracting customers toward luxury resorts. As more money is being injected into the economy, demand for luxury accommodations for corporate events, corporate stays, and leisure trips is rising.

Hosting of sports events by a city or country has also been a major factor pushing the demand for luxury accommodations. Sports teams, as well as spectators traveling from various destinations for the tournament, tend to book their stays in luxury hotels, thus leading to a rise in the number of bookings. For instance, luxury hotel chains in Russia are believed to be gearing up for FIFA World Cup 2018.

Global Luxury Hotels 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

Global Luxury Hotels Market Segmentation Analysis
- Service Type
• Business Hotels
• Airport Hotels
• Suite
• Resorts
• Others

- Room Type
• Luxury
• Upscale
• Upper-upscale

News: Accor signed an agreement with Ennismore:
- In November 2020, Paris-based hotel company Accor and London-based hospitality firm Ennismore entered exclusive negotiations to form what they are claiming will be the world's leading lifestyle operator in the hospitality sector. Through this all-share merger, a new autonomous asset-light entity will combine the Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25h, 21c Museum Hotels, Tribe, Jo&Joe, and Working From brands.

News: Hamilton partnered with Pyramid Hotel Group:
- In February 2020, London-based Hamilton Hotel Partners and Boston-based Pyramid Hotel Group completed the merger of the two businesses. The combined business or asset manages 141 hotels with 32,000 rooms across eight countries.

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