Global Luxury Hotel Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Luxury Hotel Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Service Type (Business Hotels, Airport Hotels, Suite Hotels, Resorts, and Other Service Types), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Luxury Hotel Market was valued at USD 106,985.0 million in 2023 and is expected to reach USD 147,546.5 million by 2031 while growing at a CAGR of 4.1% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global luxury hotel market growth. A luxury hotel is an upscale accommodation facility that goes beyond standard comfort and hospitality, providing exceptionally luxurious and personalized services, amenities, and facilities to meet the needs and desires of discerning and affluent clientele. This high-end establishment ensures a premium and exclusive experience for its guests.
International tourism growth and unique experiential offerings fuel the luxury hotels market, while challenges such as global crises, travel restrictions, and environmental sustainability concerns may hinder its expansion.
Furthermore, the global luxury hotel industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Service Type Analysis
The Global Luxury Hotel Market is segmented among Business Hotels, Airport Hotels, Suite Hotels, Resorts, and Other Service Types, based on Service Type. In 2023, Business Hotels accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Luxury Hotel Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are ITC HOTELS (Marriott International Inc., Accor SA, Belmond Ltd, Four Seasons Hotels Limited, InterContinental Hotels Group PLC, Rosewood Hotels & Resorts, Ritz-Carlton Hotel Company LLC, Hyatt Corporation, Shangri-La International Hotel Management Ltd.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Luxury Hotel Market Dynamics
Drivers
Restraints
Opportunity
4. Global Luxury Hotel Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Luxury Hotel Market Segmentation, By Service Type
Global Luxury Hotel Market Share Analysis, By Service Type
Global Luxury Hotel Market Growth Analysis, By Service Type
Global Luxury Hotel Market Trends, By Service Type
o Business Hotels
o Airport Hotels
o Suite Hotels
o Resorts
o Other Service Types
6. Global Luxury Hotel Market Segmentation, By Region
Global Luxury Hotel Market Share Analysis, By Region
Global Luxury Hotel Market Growth Analysis, By Region
Global Luxury Hotel Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
7. Competitive Landscape
ITC HOTELS (Marriott International Inc.*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Accor SA
Belmond Ltd
Four Seasons Hotels Limited
InterContinental Hotels Group PLC
Rosewood Hotels & Resorts
Ritz-Carlton Hotel Company LLC
Hyatt Corporation
Shangri-La International Hotel Management Ltd
*Similar analysis will be provided for each company listed above.