Global Luxury Hotels Market to 2024 - Market Data and Insights on the Global Budget Hotels Industry

Global Luxury Hotels Market to 2024 - Market Data and Insights on the Global Budget Hotels Industry

Summary

GlobalData’s Luxury Hotels Market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the luxury accommodation market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe. It also features profiles of some of the market’s leading players and looks at how companies can better meet their customers' needs.

Key Highlights

• Technology will play a major role to in the revival of the hospitality industry. The pandemic has changed customer preferences and shifted them towards a mobile centric and automated experience, which can be facilitated through machine learning, artificial intelligence and the internet of things. Luxury hotels need to redesign their product offering to a more contactless.
• Several countries announced stimulus packages to the severely hit tourism and affiliated industries due to the pandemic. With restrictions on international travel, the governments redirected travelers to explore their respective home countries. The initiatives to stimulate the demand include tax cuts, fee waivers and discounts. For instance, Belgian residents are offered ten free train tickets to travel within the country until the end of 2020.
• Despite the trade war with the US, China continued to dominate the luxury hotels market recording a total revenue of US$60bn in 2019.

Scope

• GlobalData’s Luxury Hotels Market report provides in-depth analysis of the key market trends that are shaping the future of this segment and an analysis of the luxury accommodation market globally. Detailed market insight is provided on the Americas, Asia-Pacific, Middle East & Africa, and Europe.
• It also features profiles of some of the market’s leading players and looks at how companies can better meet their customers' needs.

Reasons to Buy

• Understand the impact of COVID-19 on this market
• Gauge which are the biggest and most promising regional markets for the luxury accommodation market
• Understand the demand-side dynamics within the industry to identify key trends and growth opportunities
• Gain an understanding of the outlook for regional markets and learn from existing successes and our recommendations.