Luxury Hotel Market Size Analysis, Revenue Drivers and Thorough Research Report, 2025

Felton, Calif., USA, Feb. 22, 2021 — /EPR Network/ —

The global Luxury Hotel Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global luxury hotel market size is predicted to value at USD 115.80 billion by 2025. The market is subject to undergo a substantial growth due to the rising personal expenditure in both developed and developing countries, growing preference towards international and local tourism, and numerous initiatives and advertisement by regional government to promote tourism.

Key Players:

• AccorHotels
• Belmond Management Limited
• Four Seasons Hotels Limited
• InterContinental Hotels Group
• Mandarin Oriental Hotel Group Limited
• Marriott International, Inc.
• Rosewood Hotels and Resorts, L.L.C.
• Shangri-La International Hotel Management Ltd.
• Taj Hotels Palaces Resorts Safari
• The Ritz-Carlton Hotel Company, L.L.C.

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/luxury-hotel-market/request-sample

Growth Drivers:

Organizing sporting events such as Olympics, world cups and commonwealth games by local governments tends to attract large audience, is one of the key factor escalating growth of the industry. Other factors responsible for driving consumers towards luxury hotels are growing number of musical concerts, travelling spectators for the sports tournaments and business meetings; thus leading to expansion of the luxury hotel industry in recent years.

With the rising investment by leading industry players to establish luxury hotel chains, need for high-class accommodations for corporate events, and holiday trips is further propelling growth of the market. Globally, the luxury hotel market is predicted to grow at CAGR of 4.3% in forecast period, providing numerous opportunity to the market players for further investment to upgrade the existing services offered by luxury hotels.

Increasing number of travelers are opting for luxurious holiday packages that includes required comfort features and finest quality of services, while cost associated with such packages have become a secondary consideration. Many organizations are opting for necessary modification and upgradation in the services and infrastructure to provide full-filling experience to the customers, and to sustain themselves in the vast competitive market. Formulating various methodologies to engage and maintain customer relations by offering the high degree of hospitality is one of the key factors driving the market growth.

The luxury hotels not only offer customers the world-class services but also feature finest quality of infrastructure to provide an astonishing outlook to the hotel. The infrastructural luxury packages involving the premium quality marble or granite flooring and countertops, adoption of sub-zero appliances, and range of handpicked hard-wood flooring are some of the stand out feature of luxury hotels. As growing number of countries across the globe are relying on the international tourism to generate revenue and maximize GDP growth, thus leading to market growth over the forecast period.

Type Outlook:

• Business
• Airport
• Holiday
• Resorts & Spas

Regional Outlook:

North America has shown major growth in recent years owing to increasing upgradation in existing services offered by luxury hotels and existence leading industry players. Asia-Pacific region is predicted to hold major market share in the luxury hotel industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increase in number of the travellers each year and rise in the investment by leading industry players due to potential market opportunities. European region has also shown significant growth in the luxury hotel industry during recent years owing to the large number of initiatives undertaken by local governments to promote tourism in the region.

Browse Related Category Research Reports @ https://blog.naver.com/tomclark