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Published Date: 2015-07-24Number of Pages: 88

Luxury Hotels Market By Type ( Business Hotels, Suite Hotels, Airport Hotels, Resorts) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021

Luxury travel is one the fastest growing niche markets, making a serious contribution to sectors such as food and wine and cultural tourism. Statistics show that though the tourism industry has grown at an average rate of 4% every year, the luxury travel industry has surged at a rate of 48% in the past five years. This positive trend indicates that the global luxury hotels market is here to stay, due to changing consumer demands and upgrading of services by hoteliers across the world. A crucial component supporting the growth of the global luxury hotels market is the rising disposable income in several regions of the world as economies stabilize and strengthen.

The global luxury hotels market has been evaluated through a political, legal, social, environmental, and economic lens to understand the intricacies shaping the market. Furthermore, the research report also includes SWOT analysis and Porter’s five forces analysis to highlight the important factors governing the global luxury hotels market. The report focuses on answering questions pertaining to the size of the luxury hotels market and its scope in the coming years. 

Overview of Global Luxury Hotels Market

In recent years, the global luxury hotels market has witnessed unprecedented growth due to the increasing standard of living, growth in the number of luxury living options, and a remarkable improvement in the service industry. Additionally, the global luxury hotels market is also being fueled by the rising travel and tourism industry. The impactful business and marketing strategies that are aimed towards creating and building brand awareness are also making a serious contribution towards the rise of the luxury hotels market in recent years. Owing to these reasons, several hoteliers are making sincere efforts towards making strong promotional campaigns. The options of online booking, rise of e-commerce, and simple check-in and check-out processes are also propelling the overall luxury hotels market. 

According to the research report, the global luxury hotels market was valued at US$148.6 bn in 2014 and is expected to reach US$195.3 bn by 2021, rising at a CAGR of 4.0% from 2015 to 2021. The global luxury hotels market is segmented on the basis of hotel type into business hotels, airport hotels, suite hotels, resorts, and others. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World.

In terms of regions, North America held a dominant share in the global luxury hotels market in 2014. Analysts predict that this dominance will continue in the forecast period as the market in North America will surge at a CAGR of 5.4% between 2015 and 2021. This growth will be attributable to the burgeoning travel and tourism industry, along with drastically changing lifestyles that are defined by luxury travelling and living.

Companies Mentioned in the Luxury Hotels Market are: 

Some of the key luxury companies profiled in the global luxury hotels market report are Four Seasons Holdings Inc., Starwood Hotels & Resorts, ITC Hotels Limited, InterContinental Hotels Group PLC, Mandarin Oriental International Limited, The Indian Hotels Company Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., Marriott International, Inc., and Shangri-La International Hotel Management Ltd.

Global Luxury Hotels Market by Geography:

  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 

This report gives you access to decisive data such as:

  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements 
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

 

Chapter 1 Preface

1.1 Report Description

1.2 Market segmentation

1.2.1 Global luxury hotels market segmentation, by type and geography

1.3 Research scope

1.4 Research Methodology

 

Chapter 2 Executive Summary

2.1 Global Luxury Hotels Market Snapshot

2.2 Global Luxury Hotels Market Size, 2014 - 2021 (USD Billion)

2.2.1 Y-o-Y Growth, 2015-2021 (Value %)

 

Chapter 3 Global Luxury Hotels Market Overview

3.1 Introduction

3.1.1 Various services of luxury hotels

3.1.2 Classification of luxury hotels market

3.2 Key Trend Analysis

3.3 Market Drivers

3.3.1 Drivers for luxury hotels market: Impact analysis

3.3.1.1 Branding and promotions

3.3.1.2 Growing travel and tourism industry

3.3.1.3 Changing consumer preference for luxurious lifestyle

3.3.1.4 Increasing number of international events

3.4 Market Restraints

3.4.1 Restraints for luxury hotels market: Impact analysis

3.4.1.1 Unstable political environment

3.4.1.2 Natural disasters such as storms, floods, and earthquake

3.5 Market Opportunities

3.5.1 New luxury hotels establishments

3.6 Market Attractiveness Analysis for global luxury Hotels Market

 

Chapter 4 Global Luxury Hotels Market Revenue, By Type, 2014-2021

4.1 Overview

4.1.1 Revenue, 2014-2021 (In USD Billion)

4.1.2 Y-o-Y Growth, 2015-2021 (Value %)

4.1.3 Market Share, 2014 Vs 2021 (%)

4.2 Business Hotels

4.3 Suite Hotels

4.4 Airport Hotels

4.5 Resorts

4.6 Others

 

Chapter 5 Global Luxury Hotels Market- Regional Analysis

5.1 Market Overview

5.1.1 Revenue, 2014-2021 (In USD Billion)

5.1.2 Market Share, 2014 Vs 2021 (%)

5.2 North America

5.2.1 U.S.

5.2.2 Rest of North America

5.3 Europe

5.3.1 UK

5.3.2 Germany

5.3.3 Rest of Europe

5.4 Asia Pacific

5.4.1 China

5.4.2 India

5.4.3 Singapore

5.4.4 South Korea

5.4.5 Rest of Asia Pacific

5.5 Rest of the World (RoW)

5.5.1 Saudi Arabia

5.5.2 Brazil

5.5.3 Others

 

Chapter 6 Company Profiles

6.1 Starwood Hotels & Resorts

6.2 Four Seasons Holdings Inc.

6.3 InterContinental Hotels Group PLC

6.4 ITC Hotels Limited

6.5 Jumeirah International LLC

6.6 Kerzner International Resorts, Inc.

6.7 The Indian Hotels Company Limited

6.8 Mandarin Oriental International Limited

6.9 Shangri-La International Hotel Management Ltd.

6.10 Marriott International, Inc.

List of Figures 

 

FIG. 1 Global Luxury Hotels Market Segmentation, by Type and Geography

FIG. 2 Global Luxury Hotels Market Revenue, 2014 - 2021 (USD Billion)

FIG. 3 Various services of luxury hotels

FIG. 4 Classification of luxury hotels market

FIG. 5 World’s Top 10 Tourism Destinations, 2013

FIG. 6 Global Luxury Hotels Market Attractiveness by Type, 2014

FIG. 7 Luxury Hotels Market, Market Revenue and Forecast, 2014 – 2021 (In USD Billion)

FIG. 8 Global Luxury Hotels Market, By Type, Size, and Forecast, 2014 Vs 2021 (Value %)

FIG. 9 Business Hotels segment, market size and forecast, 2014-2021 (In USD Billion)

FIG. 10 Suite Hotels segment, market size and forecast, 2014-2021 (In USD Billion)

FIG. 11 Airport Hotels segment, market size and forecast, 2014-2021 (In USD Billion)

FIG. 12 Resorts segment, market size and forecast, 2014-2021 (In USD Billion)

FIG. 13 Others segment, market size and forecast, 2014-2021 (In USD Billion)

FIG. 14 Luxury Hotels Market, Market Revenue and Forecast, 2014 – 2021 (In USD Billion)

FIG. 15 Global Luxury Hotels Market, by Geography, Size, and Forecast, 2014 Vs 2021 (Value %)

FIG. 16 North America Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 17 U.S. Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 18 U.S. Luxury Hotels Brand Share, 2014

FIG. 19 Rest of North America Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 20 Europe Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 21 UK Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 22 U.K. Luxury Hotels Brand Share, 2014

FIG. 23 Germany Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 24 Germany Luxury Hotels Brand Share, 2014

FIG. 25 Rest of Europe Luxury Hotels Market Revenue, 2014 – 2021 (USD Billion)

FIG. 26 Asia Pacific luxury hotels market revenue, 2014– 2021 (USD Billion)

FIG. 27 China luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 28 China luxury hotels brand share, 2014

FIG. 29 India luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 30 India luxury hotels brand share, 2014

FIG. 31 Singapore luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 32 Singapore luxury hotels brand share, 2014

FIG. 33 South Korea luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 34 South Korea luxury hotels brand share, 2014

FIG. 35 Rest of Asia Pacific luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 36 RoW luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 37 Saudi Arabia luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 38 Saudi Arabia luxury hotels brand share, 2014

FIG. 39 Brazil luxury hotels market revenue, 2014 – 2021 (USD Billion)

FIG. 40 Brazil luxury hotels brand share, 2014

FIG. 41 Others luxury hotels market revenue, 2014 – 2021 (USD Billion)

List of Tables

 

TABLE 1 Global Luxury Hotels Market Snapshot

TABLE 2 Global Luxury Hotels Year-on-Year Growth, 2015-2021 ( % )

TABLE 3 Drivers for luxury hotels market: Impact analysis

TABLE 4 Demand drivers for tourism industry

TABLE 5 International tourist arrivals

TABLE 6 International tourism receipts

TABLE 7 Restraints for luxury hotels market: Impact analysis

TABLE 8 Global Luxury Hotels Year-on-Year Growth, 2015-2021 ( % )

TABLE 9 North America Luxury Hotels Market Size and Forecast, by Type, 2014 - 2021 (USD Billion)

TABLE 10 Europe Luxury Hotels Market Size and Forecast, by Type, 2014 - 2021 (USD Billion)

TABLE 11 Asia Pacific luxury hotels market size and forecast, by type, 2014– 2021 (USD Billion)

TABLE 12 RoW luxury hotels market size and forecast, by type, 2014– 2021 (USD Billion)

The luxury hotels 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.

Rise in the travel and tourism industry is contributing to the growth of luxury hotels globally. Urbanization and industrialization has paved the way for the development of hotel industry globally. Growing number of travelers across different regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW) is contributing to the positive growth of the luxury hotels market. Increasing disposable income and growing expenditure on luxury lifestyle are also expected to have a positive impact on the luxury hotel industry.

The owners of luxury hotels are concentrating on implementing new services with properly trained hotel staff in order to satisfy consumer needs. The services provided by resorts and hotels also cater to the varied tastes of customers. Focusing on the customers’ demand, resorts and hotels have upgraded their services such as complimentary spa and massage treatment for guests and special dinner arrangements for customers. Moreover, some of the other services are customization of rooms according to the clients’ specifications, babysitting, pet care, and packing and unpacking services. Hence, identifying the consumer need is a major part of the business. Moreover, well managed branding and promotion activities are an integral part of the business. Furthermore, successful branding increases the consumers’ awareness, affinity, and in turn, loyalty.

By type, the market can be segmented into business hotels, suite hotels, airport hotels and resorts among others. The others segment includes casino hotels, extended stay hotels, service apartments, and conference and convention centers, which have both regular as well as business occupancy. In terms of revenue, business hotel is leading the market for luxury hotels globally, followed by Airport hotels. Increasing number of multinational companies and rapid industrialization are some of the major factors boosting the demand for business hotels. In addition, aggressive marketing and branding strategies of the existing players are also slated to fuel the business hotels segment. The business hotels cater to business travelers and are primarily located in business districts. These hotels have both business rooms as well as suites. Luxury hotels market in the developing countries such as Asia Pacific and Latin America is expected to witness sustainable growth during the forecast period. The target consumers of airport hotels include airline passengers with cancelled flights or overnight layovers, business clientele, and airline crew and staff among others. Moreover, resorts are the most attractive segment having a huge potential. Increasing brand consciousness is one of the prime reasons behind the growth of luxury hotels market globally.

With the consumer shift towards luxurious living is propelling the demand for luxury hotels globally. Rising consumer brand consciousness along with changing lifestyle is boosting the demand for luxury hotels in North America, followed by Europe. The growing travel and tourism industry is one of the major reasons behind the increasing popularity of luxury hotels in Asia Pacific. Moreover, increasing number of international events coupled with improving standard of living is driving the demand for luxury hotels in Rest of the World (RoW). Four Seasons Holdings Inc. (Canada), InterContinental Hotels Group PLC (U.K.), Starwood Hotels & Resorts (U.S.), Jumeirah International LLC (UAE), Kerzner International Resorts, Inc. (U.S.), The Indian Hotels Company Limited (India), Mandarin Oriental International Limited (Hong Kong), ITC Hotels Limited (India), Shangri-La International Hotel Management Ltd. (Hong Kong), Marriott International, Inc (U.S.) are some of the major players operating in the luxury hotels market worldwide.

 


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