The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The Luxury Hotel Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Luxury Hotel Market:
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According to The Business Research Company’s Luxury Hotel Global Market Report 2024, The luxury hotel market size has grown strongly in recent years. It will grow from $100.14 billion in 2023 to $106.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to economic growth and rising disposable income, increasing global tourism, cultural shift towards experiential travel, rise in business travel, brand differentiation and innovation, strategic location and destination appeal, cultural and heritage tourism trends.The luxury hotel market size is expected to see strong growth in the next few years. It will grow to $131.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.
The rise in travel and tourism is expected to drive the growth of the luxury hotel market in the future. Travel and tourism involve individuals or groups journeying to and lodging in places outside their usual environment for various purposes, such as leisure or business. Luxury hotels play a crucial role in this industry by offering high-end amenities, personalized services, and exceptional accommodations to meet the demands of discerning travelers seeking comfort and exclusivity. For instance, according to the United Nations World Tourism Organization (UNWTO) report in January 2023, the number of international tourists surpassed 900 million in 2022, doubling compared to 2021. Therefore, the surge in travel and tourism activity is fueling the growth of the luxury hotel market.
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The luxury hotel market covered in this report is segmented –
1) By Type: Business Hotels, Airport Hotels, Suite Hotels, Resorts, Other Types
2) By Room Type: Luxury, Upper-Upscale, Upscale
3) By Category : Chain, Independent
Top Major Players
Jardine Matheson Holdings Ltd.,
Marriott International, Inc.,
Hilton Hotels & Resorts,
Hyatt Hotels Corporation,
W Hotels
The luxury hotel market report table of contents includes:
1. Executive Summary
- Luxury Hotel Market Characteristics
- Luxury Hotel Market Trends And Strategies
- Luxury Hotel Market – Macro Economic Scenario
- Global Luxury Hotel Market Size and Growth
- Luxury Hotel Market Segmentation
- Luxury Hotel Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Luxury Hotel Market
- Luxury Hotel Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Luxury Hotel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Luxury Hotel Market, Segmentation By Room Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Luxury Hotel Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Jardine Matheson Holdings Ltd Financial Performance
Table 75: Marriott International, Inc. Financial Performance
Table 76: Hilton Hotels & Resorts Financial Performance
Table 77: Hyatt Hotels Corporation Financial Performance
Table 78: W Hotels Financial Performance
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