Luxury Hotel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Luxury Hotel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global luxury hotel market reached a value of US$ 100.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 131.7 Billion by 2027, exhibiting a CAGR of 4.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Luxury hotels are commercial establishments that offer luxurious and high-end lodging experiences to travelers, tourists and guests. They usually include business, airport and suite hotels and resorts. These accommodations offer lavish services, such as spas, swimming pools, dine-in restaurants, salons, private beaches and fitness centers. They also provide fast, convenient and discrete check-in and check-out, smart planning and booking process, laundry, business centers, babysitting, dog walking and concierge services. These hotels usually have exclusive designer interiors manufactured using state-of-the-art technologies. The rooms of luxury hotels also have high-quality aesthetic art on walls, floors, roofs and windows, flat-screen televisions (TVs), artisan toiletries and coffee makers to improve the experience of the guest.
Luxury Hotel Market Trends:
Significant growth in the tourism and hospitality industries is one of the key factors creating a positive outlook for the market. Moreover, changing lifestyle patterns and the increasing preference for weekend getaways among the working population are providing a thrust to the market growth. Since the onset of the coronavirus (Covid-19) pandemic, individuals are widely opting for staycations and weekend trips in luxury hotels for remote working. In line with this, the proliferation of social media platforms and increasing collaborations of hotels with celebrities and influencers are also contributing to the growth of the market. Additionally, rapid digitization and the development of smartphone applications and websites for online booking of hotels, are acting as other growth-inducing factors. These innovative solutions include technology-assisted facilities, such as mobile check-in, contactless payments, voice control and biometrics, that aid in enhancing the comfort and overall experience for the guests. Other factors, including rising expenditure capacities of the consumers, along with the development of eco-friendly luxury hotels with sustainable practices, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global luxury hotel market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, room type and category.

Breakup by Type:
Business Hotels
Airport Hotels
Suite Hotels
Resorts
Others

Breakup by Room Type:

Luxury
Upper-Upscale
Upscale

Breakup by Category:

Chain
Independent

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accor, Belmond Ltd. (LVMH Moët Hennessy Louis Vuitton), Four Seasons Hotels Limited, Hyatt Hotels Corporation, InterContinental Hotels Group plc, ITC Limited, Jumeirah International LLC, Mandarin Oriental Hotel Group Limited, Marriott International Inc, Rosewood Hotels and Resorts L.L.C. (Rosewood Hotel Group), Shangri-La International Hotel Management Ltd. and The Indian Hotels Company Limited.
Key Questions Answered in This Report
1. What was the size of the global luxury hotel market in 2021?
2. What is the expected growth rate of the global luxury hotel market during 2022-2027?
3. What are the key factors driving the global luxury hotel market?
4. What has been the impact of COVID-19 on the global luxury hotel market?
5. What is the breakup of the global luxury hotel market based on the type?
6. What is the breakup of the global luxury hotel market based on the category?
7. What are the key regions in the global luxury hotel market?
8. Who are the key players/companies in the global luxury hotel market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Luxury Hotel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Business Hotels
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Airport Hotels
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Suite Hotels
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Resorts
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Room Type
7.1 Luxury
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Upper-Upscale
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Upscale
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Category
8.1 Chain
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Independent
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Accor
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Belmond Ltd. (LVMH Moët Hennessy Louis Vuitton)
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Four Seasons Hotels Limited
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Hyatt Hotels Corporation
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 InterContinental Hotels Group plc
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 ITC Limited
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Jumeirah International LLC
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Mandarin Oriental Hotel Group Limited
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Marriott International Inc
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Rosewood Hotels and Resorts L.L.C. (Rosewood Hotel Group)
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Shangri-La International Hotel Management Ltd.
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 The Indian Hotels Company Limited
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis

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