Global Luxury Hotels Market to 2021: Market data and insights on global luxury hotels industry
Hotel industry has rapidly developed and raises significant investments. Furthermore, the hotel industry globally has been regarded as one of the most attractive businesses. It is one of the reasons that companies that were not traditionally focused on the hotel business are readily entering the luxury hotel market.
Presence of an affluent corporate culture and the growing impact of the manufacturing and services sector on the economies across the globe are expected to play a pivotal role in the growth of the luxury hotels market. Damages caused by unforeseen circumstances at a country level, such as natural disasters and terrorist threats have crippled several hotels in European and Middle Eastern countries, and continue to be lurking hindrances for market growth.
China has evolved to be the largest market for luxury hotels, where wealthy Chinese spend 20 days on an average annually, traveling for leisure. While 10-12 international brands dominate the global market, independent owners of luxury hotels account for a significant source of revenue growth.
International Direct Investments Fund Hermes-Sojitz, which focused on mining projects for oil & gas and food, has shown interest in a boutique hotel chain investment project. The trend of opening luxury chain hotels on behalf of popular fashion brands is also apparent; fashion has evolved across all categories and has helped to market various famous brands globally. Versace, Armani, Missoni, Moschino, and other well-known brands have already opened their own hotels worldwide.
The report Global Luxury Hotels Market to 2021, provides a thorough insight into global luxury hotels market. The report shades light into the key trends and issues. It offers key insights at regional level and major country level markets analyzing the number of hotel establishments, number of rooms, occupancy rate, room nights available, room nights occupied, average room revenue per available room, average room revenue per occupied room, average total revenue per available room, total room revenues, total non-room revenues, total revenues, and number of guests.
Companies mentioned in this report: Intercontinental Hotels Group, Shangri-La Asia, Marriott International, Accor Hotels, Four Seasons Hotels and Resorts, Banyan Tree Holdings Limited, Hyatt Hotels, Anantara Hotels, Rezidor Hotel Group and Rotana Hotel Management Corporation
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