Luxury Hotel Market Increasing Demand, Growth Analysis and Future Outlook by 2031/ Accor SA, Belmond Ltd., Choice Hotels international, Inc, Four Seasons Luxury Resorts Pvt

The global luxury hotel market is anticipated to grow at a CAGR of 7.6% during the forecast period (2024-2031). The most significant trends in the hotel market is the use of technologies such as chatbots, cybersecurity, mobile check-in, and robot-assisted service which are spurring the growth of the hotel industry globally. These technologies safeguard the hotel management and service system, while adapting to the current situation. For example, by deploying cybersecurity in hotels, it will protect the system from attacks involving ransomware, phishing attacks, distributed denial-of-service attacks, and errors made by individuals within the company. Additionally, there is a extensive increase in number of hacking incidences occurred in luxury hotel segment over the past few years. For instance, in August 2020, hacked into London's Ritz hotel's restaurant reservation system in an effort to convince guests to pass over their valuable payment details. Hence, the several major hotels are focusing on deploying such technologies in order to provide enhanced safety and security to their customers. 

Moreover, these hotel technology trends is also expected to assist in optimising workflow, improving service levels, increasing client retention and satisfaction, and expanding business revenue. One of the latest trends in hotel technology includes the use of Internet of things (IoT). The automated apartment control system can significantly improve the customer experience. Many modern gadgets have been invented for this purpose such as voice assistants, automated lighting, and climate control are just the start. The smart systems use the most recent AI and machine learning technologies to analyse big data and personal information about the guest's preferences in order to make their stay as comfortable as possible. The automated hotel systems can also significantly reduce energy consumption by turning off devices that are not currently in use.

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Market Coverage

The market number available for - 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By Types
By Category

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Accor SA, Belmond Ltd., Choice Hotels international, Inc, Four Seasons Luxury Resorts Pvt, Intercontinental Hotels Group Plc,and others.

Luxury Hotel Market Report Segment

By Type  

Business Hotels
Airport Hotels
Suite Hotels
Resorts Hotels
Others

By Category

Chain
Independent

By Distribution Channel

Hypermarkets and Supermarkets 
Convenience Stores
Online Retail

A full Report of Luxury Hotel Market is Available @  https://www.omrglobal.com/industry-reports/luxury-hotel-market

Luxury Hotel Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

Accor SA
Belmond Ltd.
Choice Hotels International, Inc.
Four Seasons Luxury Resorts Pvt.
Intercontinental Hotels Group Plc
Intercontinental Hotels Group Pvt.
ITC Ltd.
Jumeirah International LLC
Mahali Mzuri Ltd.
Mandarin Oriental International Ltd.
Nayara Tented Camp
Nobu Ryokan Malibu
Ritz-Carlton Hotel Co. Ltd.
Rosewood Hotels and Resorts L.L.C. 
Shangri-La International Hotel Consultancy Services Pvt.
Taj Holiday Village Resort & Spa

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