The “Global Luxury Hotels Market to 2022: Market data and insights on the global luxury hotels industry”report has been added to ResearchAndMarkets.com’s offering.
Global Luxury Hotels Market to 2022 provides in-depth analysis of the key market trends that are shaping the future of this segment and analysis of the luxury hotel market globally. Detailed market insight is provided on regions like The Americas, Asia-Pacific, Middle East & Africa, and Europe. Also, company profiles for luxury hotels are provided and how companies can tap into this to better meet their customers’ needs.
An increase in the number of business travelers and customers’ penchant for luxurious lifestyles fueled the demand for luxury stays in luxury hotels in 2017. Furthermore, the increased demand for luxury services such as spas, wellness centers, and other such services boosted luxury hotels’ revenue.
Globally, China is the largest market for luxury hotels in terms of revenue in 2017. It has registered a significant increase in total revenue of luxury hotels, growing by 7.9% in 2017. This growth is mainly due to the growing number of affluent Chinese consumers and their demand for personalized and unique staying experiences. USA is the second-highest revenue generating country after China.
European nations such as Italy, the UK, and Spain are witnessing a slower growth in the overall revenue of luxury hotels than of budget hotels. However, luxury brand hotels continue to develop new concepts and services to attract new business and leisure travelers to the region. This creates an opportunity for luxury hotels to curate their packages and better serve their customers.
Increasing numbers of business and MICE (Meeting, Incentives, Conventions, and Events) travelers and the growing impact of the travel and tourism sector on economies across the globe are expected to play a pivotal role in the growth of the luxury hotels market in the coming years.
Scope
- Mexico and the US to drive growth in the Americas
- China continues to dominate with the highest number of luxury hotel rooms in the Asia-Pacific region
- Tourist flow in Japan boosted the occupancy rate in luxury hotels
- Egypt is the largest market in terms of number of luxury rooms in the Middle East & Africa region
- Luxury hotels continue to increase in Turkey
Reasons to Buy
- Gauge which are the biggest and most promising regional markets for luxury hotels
- Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
- Outlook on the most promising regional markets by learning from existing successes and our recommendations
