North America Luxury Hotel Market Size, Trends, Growth and Forecast 2026-2034

IMARC Group has recently released a new research study titled "North America Luxury Hotel Market Size, Share, Trends and Forecast by Service Type, and Country, 2026-2034" which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

Market Overview

The North America luxury hotel market size was USD 31.6 Billion in 2025 and is expected to reach USD 42.7 Billion by 2034, growing at a CAGR of 3.42% during the forecast period from 2026 to 2034. The market growth is driven by increasing numbers of high-net-worth individuals, demand for personalized and wellness-focused experiences, advancements in hospitality technology, and a rising preference for sustainable tourism.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

North America Luxury Hotel Market Key Takeaways

• Current Market Size: USD 31.6 Billion in 2025
• CAGR: 3.42%
• Forecast Period: 2026-2034
• The luxury hotel market share in North America is expanding due to the growth of high-net-worth individuals and expectations for premium hospitality experiences.
• Increasing demand for personalized and wellness-focused hotel services is positively impacting market growth.
• Sustainability practices, including energy-efficient operations and eco-friendly certifications, are becoming key to attracting luxury travelers.
• Experiential travel is a major trend, with affluent travelers seeking bespoke and immersive cultural experiences.
• Post-pandemic recovery is driving higher occupancy rates and revenue growth in luxury hotels.

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North America Luxury Hotel Market Growth Factors

Growth of Experiential Travel and Customization:

Experiential travel is a critical growth driver in the North America luxury hotel market. Affluent travelers increasingly seek unique and tailor-made experiences beyond standard accommodations. Hotels are offering customized packages that may include immersive cultural activities, private chefs, and exclusive local access. A TravelBoom Hotel Marketing survey in January 2025 indicated that 72% of travelers favor flexible cancellation policies, while 56% desire personalized travel options, and 28% seek less expensive accommodations. The U.S. Travel Association projects domestic leisure travel to grow by 3.9%, reaching USD 1 trillion in 2025 and USD 1.46 trillion by 2028. This trend stimulates hotels to design memorable, personalized stays that enhance guest experiences and market appeal.

Integration of Sustainable and Eco-Friendly Practices:

Sustainability is increasingly pivotal for growth, with luxury hotels adopting eco-conscious operations to attract environmentally responsible travelers. The Acqualina Resort & Residences in Miami received Forbes Travel Guide's Responsible Hospitality VERIFIEDTM distinction for two consecutive years as of February 2025, highlighting their commitment. Hotels focus on energy-efficient operations, zero-waste initiatives, organic toiletries, sustainable linens, and locally sourced food. Many seek certifications like LEED to demonstrate environmental responsibility. These initiatives cater to the growing eco-conscious luxury consumer base, aligning ethical hospitality with demand.

Rise of Wellness-Focused Hospitality:

Wellness is a major trend shaping the luxury hotel market, emphasizing mental, physical, and emotional well-being. Marriott International announced in May 2024 that its upscale Caribbean resorts are expanding wellness offerings, including spa services, personalized fitness plans, and nutritious cuisines to meet demand. Hotels incorporate state-of-the-art spas, yoga retreats, detox programs, mindfulness sessions, and tailored fitness regimes. This focus on holistic well-being attracts health-conscious travelers, driving investment in wellness facilities and amenities which enhance luxury hospitality value.

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North America Luxury Hotel Market Segmentation

Breakup by Service Type:

• Business Hotel: Hotels catering primarily to business travelers offering essential amenities and services suited for corporate stays.
• Airport Hotel: Hotels located near airports providing convenience and accessibility to travelers with transit needs.
• Suite Hotels: Accommodations featuring larger, more luxurious suites designed for comfort, extended stays, and premium experiences.
• Resorts: Luxury lodging offering extensive recreational facilities, wellness services, and experiential travel packages often located in vacation destinations.
• Others: Includes all other luxury hotel types not classified under the above categories.

Breakup by Country:

• United States: The dominant regional market within North America for luxury hotels.
• Canada: A key regional market contributing to the overall North America luxury hotel landscape.

Regional Insights

The United States is the dominant region in the North America luxury hotel market. The report highlights comprehensive coverage for both the United States and Canada. The market shows strong post-pandemic recovery with expansion driven by high-net-worth individuals and rising demand for personalized, sustainable, and wellness-focused hospitality services.

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Recent Developments & News

• On December 4, 2024, Hyatt Hotels Corporation announced plans to open more than 50 luxury and lifestyle hotels globally by 2026, having added 28 hotels with luxury rooms in the past three years. Miraval the Red Sea, the brand's international debut, is slated for late 2025.
• On September 5, 2024, Wyndham Hotels & Resorts announced the opening of The Mining Exchange, a 128-room hotel in downtown Colorado Springs under its Registry Collection Hotels brand. Facilities include a full-service spa, multiple dining options, and an art gallery. Nearby attractions include the U.S. Olympic & Paralympic Museum.

Key Players

• Hyatt Hotels Corporation
• Wyndham Hotels & Resorts

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