Press release
Luxury Hotel Market Expected to Surge to $143.61 Billion by 2030
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐๐๐ฆ๐๐ง๐ ๐๐ง๐๐ซ๐๐๐ฌ๐ ๐จ๐ซ ๐๐๐๐ซ๐๐๐ฌ๐ ๐๐จ๐ซ ๐ฐ๐ก๐๐ญ ๐๐จ๐ง๐ญ๐๐ข๐ง๐ฌ??๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ: ๐๐ข๐ฌ๐ข๐ง๐ ๐๐๐ฆ๐๐ง๐ ๐๐ซ๐จ๐ฆ ๐๐จ๐ฎ๐ซ๐ข๐ฌ๐ฆ ๐๐ง๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐๐ญ๐จ๐ซ๐ฌ
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.
๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฏ๐๐ง๐ญ๐ฌ ๐๐จ๐จ๐ฌ๐ญ๐ข๐ง๐ ๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐จ๐จ๐ค๐ข๐ง๐ ๐ฌ
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.
๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐๐ฅ ๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ ๐๐ง๐ก๐๐ง๐๐ข๐ง๐ ๐๐ฎ๐๐ฌ๐ญ ๐๐ฑ๐ฉ๐๐ซ๐ข๐๐ง๐๐
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.
๐๐ง๐ฅ๐จ๐๐ค ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฉ๐จ๐ญ๐๐ง๐ญ๐ข๐๐ฅ ๐จ๐ ๐จ๐ฎ๐ซ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฒ ๐๐๐๐๐ฌ๐ฌ๐ข๐ง๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ญ๐จ๐๐๐ฒ: https://www.maximizemarketresearch.com/request-sample/124393/
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
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.
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ฒ๐ฉ๐
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.
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐จ๐ฉ๐:
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.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐จ๐ฎ๐ซ ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐ญ๐ฎ๐๐ฒ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/124393/
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Key Players of the Luxury Hotel Market profiled in the report includeโฆ..
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
๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐๐๐ฆ๐๐ง๐ ๐ข๐ง ๐ฐ๐ก๐ข๐๐ก ๐ซ๐๐ ๐ข๐จ๐ง๐ฌ??
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.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐: ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ซ๐ญ๐ง๐๐ซ๐ฌ๐ก๐ข๐ฉ๐ฌ ๐๐ง๐ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง๐ฌ
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.
๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.maximizemarketresearch.com/market-report/luxury-hotel-market/124393/
๐๐๐ฒ ๐๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐ฑ๐ฎ๐ซ๐ฒ ๐๐จ๐ญ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ซ๐:
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?
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
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
๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ฅ๐๐ฏ๐๐ง๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฎ๐๐ฃ๐๐๐ญ๐ฌ:
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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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