Luxury Hotels Market

Global Luxury Hotels Market is Estimated to Represent US$195.2 bn by 2021
Transparency Market Research has published a new report on the global luxury hotels market. As
per the report, the global luxury hotels market stood at US$148.6 bn in 2014 and is predicted to
reach US$195.2 bn by 2021. The report, titled ‘Luxury Hotels Market - Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2015 - 2021’, states that the global luxury hotels market
is predicted to expand at a 4.0% CAGR during the period between 2015 and 2021.
The luxury hotels industry is one of the leading customer service industries globally. To meet the
growing needs of travelers, hotels are constantly taking efforts to offer services that match changing
customer preferences. The global luxury hotels market is segmented on the basis of type and
geography. Based on geography, the global luxury hotels market is divided into North America,
Asia Pacific, Europe, and Rest of the World. In 2014, in terms of revenue, the global luxury hotels
market was dominated by North America. The North America luxury hotels market is predicted to
expand at a 5.40% CAGR during the period between 2015 and 2021. Changing lifestyles,
increasing disposable income, and growing interest in luxurious resorts are some of the factors
responsible for the growth of the global luxury hotels market during the forecast period.
Starwood Hotels & Resorts, InterContinental Hotels Group PLC, The Indian Hotels Company
Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., Marriott International,
Inc., Four Seasons Holdings Inc., ITC Hotels Limited, Mandarin Oriental International Limited, and
Shangri-La International Hotel Management Ltd. are some of the leading companies operating in
the global luxury hotels market. The growing number of emerging luxury hotels across all regions is
expected to increase the level of competition for the leading players in the global luxury hotels
market in the years to come.
View and Download TOC of Luxury Hotels Market Research Report @
https://www.transparencymarketresearch.com/report-toc/1839
The flourishing travel and tourism industry has been the major driving factor for the global luxury
hotels market in the recent past. Furthermore, the global luxury hotels market is expected to be
driven by factors such as the emergence of online booking, easy check-in and check-out processes,
and advanced hotel booking services.
By type, the global luxury hotels market is classified into business hotels, resorts, airport hotels,
suite hotels, and others. In 2014, in terms of revenue, the global luxury hotels market was
dominated by the business hotels segment. The business hotels segment is predicted to expand at a
CAGR of 3.80% during the period from 2015 to 2021. The increasing number of business visits has
resulted in development of business hotels, thus propelling the business hotels segment across all
regions. Business hotels fulfill the needs of business travelers and are located in business districts.
Small conference groups are the target customers for business hotels. The airport hotels segment is
predicted to rise at a 3.70% CAGR during the period from 2015 to 2021. Promotional activities and
aggressive branding will generate more demand for the global luxury hotels market in the years to
come.
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https://www.transparencymarketresearch.com/luxury-hotels-market.html