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The luxury hotel industry is one of the major customer service industries globally. Growing travel and tourism industry is one of the key reasons behind the growth of luxury hotels industry. In order to meet the increasing demand for unique customer services, luxury hotels are constantly striving to improve their services by focusing on changing consumer preferences.
Scope of the Report:
Nowadays, the top five companies make up more than 26.37% market share of the luxury hotels market, and the world's large enterprises are mainly concentrated in North America. The top five vendors are Marriott International, Hilton, Hyatt Hotels, Four Seasons Holdings Inc. and Shangri-La International Hotel Management Ltd. They respectively took a global market share as 13.59%, 6.59%, 2.53%, 2.41%, and 1.24% in 2017.
United States was the largest consumer market with a market share of 35.71% in 2013 and 32.05% in 2017 with a decrease of 3.66%. China and EU ranked the second and third markets with the market share of 18.58% and 17.28% in 2017.
The global Luxury Hotel market is valued at 171100 million USD in 2018 and is expected to reach 222900 million USD by the end of 2024, growing at a CAGR of 4.5% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Luxury Hotel.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Luxury Hotel market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Luxury Hotel market by product type and applications/end industries.
Market Segment by Companies, this report covers
- Marriott International
- Hilton
- Starwood Hotels & Resorts (Marriott)
- Hyatt Hotels
- Four Seasons Holdings
- Shangri-La International Hotel Management Ltd.
- InterContinental Hotels Group PLC
- Mandarin Oriental International Limited
- The Indian Hotels Company Limited
- Jumeirah International LLC
- Kerzner International Resorts
- ITC Hotels Limited
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Business Hotel
- Suite Hotel
- Airport Hotel
- Resorts Hotel
Market Segment by Applications, can be divided into
- Room
- F&B
- SPA
- Others