Luxury Hotel Market

Maria James

Luxury Hotel Market 2022: Industry Insight, Drivers, Trends, Analysis and Forecast by 2027

Luxury Hotel Market, Luxury Hotel Market Share

Luxury Hotel Market Report:

According to IMARC Group latest report titled “Luxury Hotel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on luxury hotel market overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 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.

A luxury hotel offers luxurious stays along with various other services such as a swimming pool, spa, barbeque, gyms, bar, and other tailor-made services as per the comfort and desire of customers. Many luxury hotels also provide private gardens or private areas on the beach, along with personal sunbeds, to distinguish themselves from other players. These hotels strive to showcase the highest quality of services and features, from interior design and food offerings to extended types of services to attract guests. These are classified based on the diamond range depending upon facilities provided to the guests, usually four-diamond or five-diamond luxury hotels.

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Market Trends

The global market is primarily driven by significant growth in the travel and tourism industry. In line with this, lavish stays during family vacation time or offering over-the-top facilities for upper management executives during business tours is positively influencing the demand for luxury hotels. Furthermore, the emergence of online accommodation booking services is catalyzing the market proliferation. Apart from this, increased demand for premium services with improved booking facilities is propelling the market. Moreover, the rising popularity of eco-friendly luxury hotels is creating a positive outlook for the market. Besides this, the availability of lodging packages with deluxe rooms and high-end services has attracted many guests for extended stays, strengthening the luxury hotel demand.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Accor
  • Belmond Ltd.
  • 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.
  • Shangri-La International Hotel Management Ltd.
  • The Indian Hotels Company Limited

Luxury Hotel Market Segmentation:

Our report has categorized the market based on region, 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)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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