openPR Logo
Press release

Global Luxury Hotels Market - Propelled by Booming Travel and Tourism Industry

11-14-2017 01:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The healthy growth of the travel and tourism industry is allowing the global luxury hotels market to gain significant momentum. Rapid globalization and urbanization along with rising disposable are encouraging people to travel for vacations and business purposes, which in turn is escalating the development of the hotel industry worldwide. According to a report by Transparency Market Research, the global luxury hotels market will expand at a CAGR of 4.0% from 2015 to 2021, reaching a valuation of US$195.2 bn by the end of 2021.

Branding and promotions play a critical role in the growth of the market. In order to suit the constantly changing consumer requirements, luxury hotels are constantly trying to enhance their services. Their owners are paying high attention to implementing new services, including complimentary services and customization of rooms, with properly trained hotel staff in order to satisfy customers. Moreover, as people are becoming increasingly brand conscious, successful branding and marketing can increase the awareness and affinity of consumers and in turn loyalty. Apart from this, the increasing organization of international events is providing a tremendous boost to the luxury hotels market.

Get an exclusive sample of this report @
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1839

Business Hotels to Remain Most Prominent Segment through 2021

On the basis of type, the global luxury hotels market is divided into suite hotels, business hotels, resorts, airport hotels, and others, which include service apartments, casino hotels, and conference and convention centers. The business hotel segment will continue to account for the lion’s share in the market until 2021. The growing number of multinational companies and rapid globalization are contributing to the growth of the segment. Apart from this, aggressive branding and marketing strategies undertaken by existing players are also anticipated to boost the popularity of business hotels.

The segment will be closely trailed by airport hotels. The target consumers of this type of hotel are airline passengers with overnight layovers or cancelled flights, airline crew and staff, and business clientele. The increasing air traffic is supplementing the growth of the airport hotels segment. Resorts will be the most promising segment during the forecast period. The growing popularity of all-inclusive resorts along with the rising spending power is providing a significant push to the segment.

Browse Research Report @
https://www.transparencymarketresearch.com/luxury-hotels-market.html

Changing Lifestyles of Populace to Help North America Retain Dominance until 2021

From the geographical standpoint, the report classifies the global luxury hotels market into North America, Asia Pacific, and Europe. In Rest of the World, the report primarily focuses on Saudi Arabia and Brazil. North America will continue to be the frontrunner in the global market until 2021. The growth of the region can be attributed to the high disposable income and change in consumer lifestyles. The increasing inclination towards all-inclusive resorts is also propelling the luxury hotels market in the region.

Europe will also hold a prominent position in the global arena, thanks to the rising spending power of the populace. Besides this, the highly lucrative travel and tourism industry in the region is positively impacting the European luxury hotels market. Asia Pacific, on the other hand, will rise at a noteworthy CAGR during the review period. The growth of the region is largely driven by the growing disposable income and rapid infrastructural development. The demand for luxury hotels in regions in Rest of the World is augmented by the rising number of international events and the improving standard of living.

Some of the prominent chain of luxury hotels around the world are Four Seasons Holdings Inc., InterContinental Hotels Group PLC, Starwood Hotels & Resorts, Jumeirah International LLC, Kerzner International Resorts Inc., The Indian Hotels Company Limited, Mandarin Oriental International Limited, ITC Hotels Limited, Shangri-La International Hotel Management Ltd., and Marriott International Inc.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Luxury Hotels Market - Propelled by Booming Travel and Tourism Industry here

News-ID: 816340 • Views:

More Releases from Transparency Market Research

Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights for the USD 15.9 Bn Market 2022-2031
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f …
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and the
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And Competitors
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And …
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry. 𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359 Key Players and Market Developments Key players
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Study
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period. Moreover, the market is expected
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market. Vascular closure devices is estimated to reach a value of ~US$ 1 Bn

All 5 Releases


More Releases for Hotel

Gaming Hotel Market 2022 COVID 19 Impact Analysis, New Technology, Demand and Op …
Gaming Hotel is one of the most reliable markets and segmented by manufacturers, regions, type and application. It has arranged and managed information regarding the analysis of various companies, their revenue, price and volume in various regions. The report also provides a forecast for the global Gaming Hotel market from 2022-2028. This will help readers to get an idea about how the market will perform in the coming years so
Capsule Hotel Market Forecast 2020-26, Super Hotel, Tokyo Ginza Bay Hotel
The latest study on the Global Capsule Hotel market report represents a deep appraisal of the international industry. The research report on the worldwide Capsule Hotel market 2020-2026 sheds light on qualitative as well as quantitative insights, historical Capsule Hotel industry status and authorized projection related to the Capsule Hotel market size. Each and every segment exhibited in this report are discovered through verifiable research methods
Worldwide Report on Hotel Booking Market 2019-2026 with Top Key Player Profiled …
The Hotel Booking industry is one of the key areas that promote the growth of the Hotel Booking industry at a global level. The booming travel and tourism industry is one of the key factors driving the demand in the Hotel Booking industry. In addition, as a multitude of multinational corporations have widened their base around the world, the number of business travelers who are activating the Hotel Booking industry
2019 to 2026 Thriving Worldwide Report on Global Hotel Booking Market Top Key Pl …
This report on global Hotel Booking market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this particular industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the global market for Hotel Booking .Collecting historical and recent data from various authentic resources, and depending on
Popular Phoenix Hotel - Howard Johnson International Airport Hotel
Our focus has been on customer care and we pride ourselves in the fact that we have testimonials from satisfied customers to support our claim. Our staff is courteous, friendly and ready to attend to your needs 24x7 with a very personalized service. Stay with us once and decide yourself whether our claims are authentic or not. Laced with all contemporary facilities, Howard Johnson International Airport Phoenix comes with features that
Hanoi Welcomes New Budget Hotel “Hanoi Spark Hotel”
Roving reporter and travel writer Alejandra Simiz reports from down town Hanoi, Vietnam. On my most recent assignment I decided to take a few days off in Hanoi as it had been several years since I was last here and wanted to see what impact tourism in general had made on the Vietnamese culture. Hanoi, Vietnam, March 17, 2011 -- To my surprise, what I did find was that good budget,