Global Luxury Hotels Market Report 2019 Foresees the Market to grow by 4.5% during 2020-2026
Posted On January 11, 2021
A market research report forcasts the Global Luxury Hotels Market to grow and reach USD 90 BN mark by 2026. The report publisher, Value Market Research expects a CAGR of 4.5% during 2020 to 2026. Luxury hotels provide extraordinary experiences that can exceed customer expectations and create great memories that can be cherished life-long. The emerging tourism industry and rising preferences for leisure travel among the global population are the main trending factors for this market's growth. High disposable income and increased standard of living will further propel the development of this market. Hosting sports events by a country or city will create lucrative opportunities for the luxury hotels market's growth. Disposal of value-added services like freebies, suite upgrades, privileged services, dining credits, etc., will further enhance this market's growth potential. The high costs of maintaining these hotels and high rates are few constraints hampering this market's growth.
Luxury Hotel is a hotel facility with exceptional operational standards and physical characteristics that are substantially equal to or higher than the average. These hotels provide a luxurious stay and various other services like swimming pool, barbeque, spa, gyms, bar, and other tailor-made services to meet customers' desire and comfort. Some hotels boast of private gardens, personal terrace suites, or remote areas on the beach along with individual sunbeds. Some even have a golf course with state-of-the-art facilities for golf players. There are no specific standards defined for this class of hotels. Exemplary personalized services and multi-cuisine restaurants serving exquisite food play a crucial role in all luxury hotels.
The first chapter of the report "Global Luxury Hotels Market Report By Type (Business Hotels, Airport Hotels, Holiday Hotels, Resorts & Spas, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" gives the market introduction with a crisp summary of the report and goes in detailed revenue analysis bifurcated as per segments and regions in the subsequent chapters.
The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future.By type the market is divided into Business Hotels, Airport Hotels, Holiday Hotels, Resorts & Spas, Others. The report identifies the leading region which is expected to dominate the market over the next six years among all the regions studied in the report. North America, Europe, Latin America and Middle East & Africa are deeply researched in the report.
The Report Segments Global Luxury Hotels Market -
- Business Hotels
- Airport Hotels
- Holiday Hotels
- Resorts & Spas
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
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
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