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Luxury Hotel Market Expected to Surge to $143.61 Billion by 2030

06-28-2024 01:49 PM CET | Consumer Goods & Retail

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Luxury Hotel Market

Luxury Hotel Market

๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ˆ๐ง๐œ๐ซ๐ž๐š๐ฌ๐ž ๐จ๐ซ ๐ƒ๐ž๐œ๐ซ๐ž๐š๐ฌ๐ž ๐Ÿ๐จ๐ซ ๐ฐ๐ก๐š๐ญ ๐œ๐จ๐ง๐ญ๐š๐ข๐ง๐ฌ??

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ: ๐‘๐ข๐ฌ๐ข๐ง๐  ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐Ÿ๐ซ๐จ๐ฆ ๐“๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐š๐ง๐ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ž ๐’๐ž๐œ๐ญ๐จ๐ซ๐ฌ

The continuous development of tourism and corporate sectors across various regions is a significant driver of the luxury hotel market. As disposable incomes rise and living standards improve, more consumers are attracted to luxury resorts for both business events and leisure tours. The influx of capital into economies globally is further boosting the demand for high-end accommodations.

๐’๐ฉ๐จ๐ซ๐ญ๐ฌ ๐„๐ฏ๐ž๐ง๐ญ๐ฌ ๐๐จ๐จ๐ฌ๐ญ๐ข๐ง๐  ๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐๐จ๐จ๐ค๐ข๐ง๐ ๐ฌ

Major sports events have also played a crucial role in driving demand for luxury hotels. Athletes and spectators traveling from different parts of the world often opt for luxurious accommodations, leading to an increase in bookings. For instance, luxury hotel chains in Qatar experienced a surge in bookings in anticipation of the FIFA World Cup 2022.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ ๐„๐ง๐ก๐š๐ง๐œ๐ข๐ง๐  ๐†๐ฎ๐ž๐ฌ๐ญ ๐„๐ฑ๐ฉ๐ž๐ซ๐ข๐ž๐ง๐œ๐ž

Key players in the luxury hotel market are heavily investing in infrastructure and modern equipment to enhance aesthetics and comfort. Companies like Control4 Corporation, Crestron Electronics, Inc., and AMX LLC provide advanced automation solutions for controlling lighting, security, entertainment, and energy within an Internet of Things (IoT) ecosystem. For example, the Luxury Hotel and in Sydney offers guests full control of their suite amenities via a mobile app, enhancing their overall experience.

๐”๐ง๐ฅ๐จ๐œ๐ค ๐ญ๐ก๐ž ๐Ÿ๐ฎ๐ฅ๐ฅ ๐ฉ๐จ๐ญ๐ž๐ง๐ญ๐ข๐š๐ฅ ๐จ๐Ÿ ๐จ๐ฎ๐ซ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐›๐ฒ ๐š๐œ๐œ๐ž๐ฌ๐ฌ๐ข๐ง๐  ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ญ๐จ๐๐š๐ฒ: https://www.maximizemarketresearch.com/request-sample/124393/

๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ:

Developing tourist and business industries across many regions, increased disposable income, rising individual living standards, and an increase in desire for leisure travel are expected to drive the industry. Increased purchasing power and level of living are two major factors driving people to luxury resorts. As more currency enters the market, the demand for premium venues for business functions and leisure excursions rises.

๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง:

๐›๐ฒ ๐“๐ฒ๐ฉ๐ž

Business
Airport
Holiday
Resorts & Spas
Others

The market is divided into types: business, airport, holiday, resorts, and spas. In 2022, the business sector generated approximately 35% of total revenue. The resorts and spas sector is predicted to grow at a CAGR of more than 5% during the forecast period. With a growing inclination for leisure travel, there is a significant increase in demand for holiday resorts and spas that are specifically designed to help tourists relax and take a break from their everyday commitments.

๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐œ๐จ๐ฉ๐ž:

The report provides a comprehensive overview of the Luxury Hotel market, encompassing both global and regional market sizes, shares, and presence. It defines and introduces the Luxury Hotel market, discussing proactive management strategies. The report thoroughly analyses current trends, drivers, challenges, constraints, and opportunities to forecast the future potential of the Luxury Hotel market. It includes detailed insights into key players, their market sizes, shares, growth rates, revenues, production volumes, and profitability across different regions, illustrating the market's structure. Utilizing SWOT analysis, the report identifies strengths and weaknesses within the Luxury Hotel market. Market engineering techniques, employing both top-down and bottom-up approaches along with triangulation methods, are used to estimate and forecast market segments and sub-segments as outlined in this study.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐ฒ๐จ๐ฎ๐ซ ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐จ๐Ÿ ๐จ๐ฎ๐ซ ๐ข๐ง-๐๐ž๐ฉ๐ญ๐ก ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ฌ๐ญ๐ฎ๐๐ฒ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/124393/

๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

Key Players of the Luxury Hotel Market profiled in the report includeโ€ฆ..

1. Four Seasons Holdings Inc
2. Intercontinental Hotels Group
3. Marriott International Inc
4.Hyatt Corporation
5. ITC Hotels Limited
6. Shangri-La International Hotel Management Ltd.
7. Jumeirah International LLC,
8. The Indian Hotel Companies Limited
9. Paracas
10. Mandarin Oriental.
11. The Oberoi.
12. Nobu Ryokan T.
13. Taj Holiday Village Resort & Spa.
14. Mahali Mzuri
15. Nayara Tented Camp

๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐ƒ๐ž๐ฆ๐š๐ง๐ ๐ข๐ง ๐ฐ๐ก๐ข๐œ๐ก ๐ซ๐ž๐ ๐ข๐จ๐ง๐ฌ??

North America dominated the luxury hotel market in 2022, with the United States leading due to its status as a global financial hub and a popular tourist destination. This trend is expected to continue throughout the forecast period. The Asia-Pacific (APAC) region, however, is anticipated to experience the highest growth rate, fueled by increasing incomes and expanding tourism in countries like China, India, and Thailand.

European markets are also gaining traction, with government initiatives to promote tourism highlighting the historical significance of countries like the UK, Spain, Italy, and France.

๐‚๐จ๐ฆ๐ฉ๐ž๐ญ๐ข๐ญ๐ข๐ฏ๐ž ๐‹๐š๐ง๐๐ฌ๐œ๐š๐ฉ๐ž: ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ข๐œ ๐๐š๐ซ๐ญ๐ง๐ž๐ซ๐ฌ๐ก๐ข๐ฉ๐ฌ ๐š๐ง๐ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง๐ฌ

Major players in the luxury hotel market include Four Seasons Holdings Inc, Intercontinental Hotels Group, Marriott International Inc, Hyatt Corporation, and ITC Hotels Limited. Marriott International significantly contributed to the market's revenue in 2022, with renowned brands like JW Marriott and Fairfield Inn & Suites under its umbrella.

Companies are engaging in mergers, acquisitions, and strategic partnerships to expand their geographical footprint. For example, in 2017, Accor Hotels announced a strategic partnership with Rixos Hotels to enhance its presence in Russia, Egypt, UAE, and Turkey.

๐€๐ฏ๐š๐ข๐ฅ๐š๐›๐ฅ๐ž ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ : https://www.maximizemarketresearch.com/market-report/luxury-hotel-market/124393/

๐Š๐ž๐ฒ ๐๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐‹๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐‡๐จ๐ญ๐ž๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ซ๐ž:

What is the growth rate of the Luxury Hotel market?
What segments are covered in the Luxury Hotel market report?
What are the factors driving the Luxury Hotel market growth?
Which are the top players in the Luxury Hotel market?
What are key growths strategies that were implemented by key players to dominate the Luxury Hotel Market?
Which region is expected to dominate in the Luxury Hotel Market?
๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations
๐€๐๐๐ข๐ญ๐ข๐จ๐ง๐š๐ฅ ๐‘๐ž๐ฅ๐ž๐ฏ๐š๐ง๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐’๐ฎ๐›๐ฃ๐ž๐œ๐ญ๐ฌ:

โ™ฆ Global Life Science Analytical Instruments Market https://www.maximizemarketresearch.com/market-report/global-life-science-analytical-instruments-market/54598/

โ™ฆ Global Miniatureball Bearing Market https://www.maximizemarketresearch.com/market-report/global-miniatureball-bearing-market/22733/

โ™ฆ Global Emission Monitoring System Market https://www.maximizemarketresearch.com/market-report/global-emission-monitoring-system-market/30204/

โ™ฆ Global Foliar Spray Market https://www.maximizemarketresearch.com/market-report/global-foliar-spray-market/25452/

โ™ฆ Global Sli Battery Market https://www.maximizemarketresearch.com/market-report/global-sli-battery-market/84025/

โ™ฆ Global Aerosol Cans Market https://www.maximizemarketresearch.com/market-report/global-aerosol-cans-market/23273/

โ™ฆ Global Crawler Camera System Market https://www.maximizemarketresearch.com/market-report/global-crawler-camera-system-market/33911/

โ™ฆ Global Sodium Cyanide Market https://www.maximizemarketresearch.com/market-report/global-sodium-cyanide-market/63811/

โ™ฆ Global Lithium Battery Charger Ics Market https://www.maximizemarketresearch.com/market-report/global-lithium-battery-charger-ics-market/64706/

โ™ฆ Global Electromagnetic Flow Meter Market https://www.maximizemarketresearch.com/market-report/global-electromagnetic-flow-meter-market/22214/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

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sales@maximizemarketresearch.com

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๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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