The report titled “Luxury Hotels Market: Global Demand Analysis & Opportunity Outlook 2024” delivers a detailed overview of the global luxury hotels market in terms of market segmentation by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The global luxury hotels market is expected to expand at a noteworthy CAGR of 4.3% over the forecast period. Moreover, the global luxury hotels market is expected to reach USD 23 Billion by the end of 2024. Swelled disposable income of the consumers and their inclination towards a luxurious lifestyle are key reasons which are propelling the demand for luxury hotels across the globe.
The global luxury hotels market is segmented into types such as suite hotels, business hotels, airport hotels, and others. Among these segments, the business hotels segment is expected to occupy remarkable CAGR over the forecast period. Further, growing corporate tourism across the globe due to the global expansion of companies is likely to drive the market of this segment over the forecast period. Moreover, the rising per capita income of the consumers has led them to spend more on luxurious living which is projected to flourish the growth of the luxury hotels market over the forecast period.
In terms of regional platforms, Europe and North America are the most prominent regional markets of luxury hotels. Moreover, the North American region contributed to the biggest market of Luxury Hotels in 2016 and is projected to continue its dominance over the forecast period. Moreover, the rising number of tourism in North American countries such as Canada and the U.S. is projected to boost the demand for luxury hotels. Apart from this, Asia-pacific is the most lucrative market owing to the rising middle class along with rising in several foreign tourists arriving. For instance, according to the ministry of tourism, foreign tourist arrivals (FTAs) in India increased 19.5% Y-o-Y to 630,000 in May 2017.
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Expansion of Hospitality Sector
Increasing spending by international hoteliers to expand their hotel chains in various countries such as Thailand, India, and others is anticipated to escalate the growth of the luxury hotel market. For instance, according to the ministry of tourism, international hotel chains are likely to invest in India and are projected to value for 50% share in the Indian hospitality industry by 2022, from the current 44%.
Changing Living Standards
Population across the globe these days is seeking luxurious experiences whether in terms of food, clothing, living, or other experiences. Further, swelled disposable income along with the rising purchasing power of the consumers have backed them to spend more on travel and tourism which is believed to bolster the growth of the global luxury hotels market in upcoming years.
However, damages caused by natural disasters and terrorist threats are envisioned to dampen the growth of the luxury hotel market.
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This report also provides the existing competitive scenario of some of the key players of the global Luxury Hotels Market which includes company profiling of Four Seasons Holdings Inc., Intercontinental Hotels Group, Marriott International Inc., Hyatt Corporation, ITC Hotels Limited, Shangri-La International Hotel Management Ltd., Sheraton, Hilton, Starwood Hotels and Resorts Worldwide, Jumeirah International LLC and The Indian Hotel Companies Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global luxury hotels market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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The Luxury Hotels market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the luxury hotels market include AccorHotels, Belmond Management Limited, Four Seasons Hotels Limited, InterContinental Hotels Group, Mandarin Oriental Hotel Group Limited, Marriott International, Inc., Rosewood Hotels and Resorts, L.L.C., Shangri-La International Hotel Management Ltd., Taj Hotels Palaces Resorts Safari, The Ritz-Carlton Hotel Company, L.L.C.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Luxury Hotels Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/luxury-hotels-market/download-sampleMarket DynamicsThe market is mainly driven by shifting the client’s preferences towards luxurious traveling, experiences and comfort, rising disposable income, and enhancing the start of living are driving the demand of the market across the globe.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.Additionally, these tools also give inclusive assessment of each application/product segment in the global market of luxury hotels.
The Global Luxury Hotels market 2020-2026 report gives complete information concerning the market, size, commercialization perspectives, and revenue forecast of the business.
The global Luxury Hotels market report covers the major product & application categories & segments.
The Global Luxury Hotels research report Forecast provides a comprehensive outline of the business with the expectations of the development and revenue.The analysis is assessed with the assistance of detailed market surveying.
The global Luxury Hotels industry report has been assembled using primary and secondary research methods, which provide precise and accurate comprehension.
The client gets wide knowledge and deep perceptive of Luxury Hotels restraints, distinct drivers, and factors impacting the industry.Detailed TOC along with also Charts & Tables of Luxury Hotels Market Research Report accessible at: https://www.futuristicreports.com/request-sample/56033Key Players Mentioned at the Luxury Hotels Market Report:Gili LankanfushiPhum BaitangThe Danna LangkawiVicerory BaliLayana Resort and SpaKatamamaThe Upper HouseThe Oberoi VanyavilasUmaid Bhawan Palace JodhpurKomaneka at TanggayudaThe Oberoi RajvilasBaros MaldivesThis Luxury Hotels report analysis attainability with a goal of instructive new players concerning the progressions within the market.
The portrayal, intensive SWOT analysis is given which Luxury Hotels forecast are impending opportunities.
