Luxury Hotel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Business Hotels, Airport Hotels, Holiday Hotels, Resorts & Spa, Others), By Category (Chain, Independent), By Room Type (Luxury, Upper-Upscale, Upscale), By Region & Competition, 2019-2029F

Industry : Consumer Goods and Retail
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Published Date : NA

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Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 138.47 Billion
CAGR (2024-2029)	5.60%
Fastest Growing Segment	Resorts & Spa
Largest Market	North America
Market Size (2029)	USD 192.02 Billion

Market Overview

The global luxury hotel market was valued at USD 138.47 Billion in 2023 and is expected to reach USD 192.02 Billion by 2029 with a CAGR of 5.60% during the forecast period. The global luxury hotel market represents the pinnacle of the hospitality industry, catering to the most discerning travelers who seek exceptional experiences in terms of comfort, service, and exclusivity. A luxury hotel is typically defined as an establishment that offers high-end accommodations, personalized services, premium amenities, and an atmosphere of opulence. These hotels are often located in prime locations, including major urban centers, scenic destinations, and culturally rich regions. Business hotels Cater to corporate travelers with facilities like conference rooms, business centers, and executive lounges. Resort Hotels, which are in vacation destinations, offering leisure amenities such as spas, golf courses, and private beaches.

Luxury hotels operate on a premium pricing model, reflecting the high cost of services, exclusivity, and brand reputation. Use of advanced technology for enhanced guest experiences, including AI-driven concierge services, smart room controls, and virtual reality (VR) tours, support market growth. Further, growing importance of eco-friendly practices, such as energy-efficient buildings, locally sourced materials, and community-focused initiatives drives market growth. The market is influenced by various factors including economic conditions, geopolitical stability, and travel trends. The rise of affluent middle-class populations in emerging markets, particularly in Asia-Pacific, is driving demand for luxury accommodations. For Instance, As an illustration, Etihad Airways started operating four nonstop weekly flights from 2024 to Jaipur, the capital city of Rajasthan, India, as part of its network of routes throughout South Asia. Forts, palaces, and vibrant bazaars are just a few of the historical and cultural attractions available in Jaipur, also referred to as the "pink city" because of its unique architectural style. Several new luxury hotel properties, including Raffles Jaipur, Anantara Jewel Bagh Jaipur, Waldorf Astoria Jaipur, and Conrad Jaipur, are set to open in the city in the coming years, further enhancing Jaipur's appeal as a tourism destination. Additionally, the trend towards experiential travel, where guests seek unique and immersive experiences, is propelling innovation in the sector. The post-pandemic recovery has also brought renewed focus on health, safety, and wellness, further shaping the offerings of luxury hotels.

Market Drivers

Increasing Disposable Income

As global wealth continues to rise, particularly in emerging markets, there is a corresponding increase in disposable income among the affluent classes. This surge in wealth is a critical driver for the luxury hotel market, as it directly correlates with the demand for high-end travel experiences. According to the World Bank, global middle-class expansion and the rise of ultra-high-net-worth individuals (UHNWI) are significantly contributing to the growth of the luxury travel segment. The number of ultra-high net worth (UHNW) individuals, those with assets over USD 50 million, has surged by 46,000 in 2021 to a record 2,18,200 in 2022. In regions such as Asia-Pacific, particularly in countries like China and India, there is a burgeoning middle class that aspires to experience luxury travel. The increasing number of millionaires and billionaires in these regions has created a new demographic of luxury travelers who seek premium accommodations, exclusive experiences, and personalized services. This trend is not limited to Asia-Pacific; the Middle East, particularly in countries like the UAE and Saudi Arabia, has seen a similar rise in affluent populations, further driving the demand for luxury hotels. The luxury hotel market is capitalizing on this trend by offering tailored experiences that cater to the specific needs and preferences of these wealthy travelers. From private villas and penthouses to bespoke dining experiences and exclusive cultural tours, luxury hotels are evolving to meet the expectations of a more sophisticated and wealthier clientele. This increase in disposable income is expected to continue driving the luxury hotel market's growth, particularly as emerging markets continue to develop economically.

Growth of Experiential Travel

The shift towards experiential travel is another significant driver of the global luxury hotel market. Modern travelers, especially those in the luxury segment, are increasingly seeking unique, immersive experiences rather than just traditional vacation packages. This shift is being driven by a desire for authenticity, personalization, and meaningful connections with local cultures, environments, and communities. Luxury hotels are responding to this trend by offering a range of experiences that go beyond the standard offerings. This includes curated cultural tours, adventure excursions, wellness retreats, and gourmet culinary experiences. For example, many luxury resorts in destinations like Bali, the Maldives, and Tuscany offer cooking classes with local chefs, private yoga sessions, and guided tours of local heritage sites, providing guests with a deeper connection to the destination.

The demand for experiential travel has led to the development of themed luxury hotels, such as eco-resorts, wellness-focused retreats, and adventure lodges, which cater to specific interests and lifestyles. This trend is not only enhancing the guest experience but also allowing luxury hotels to differentiate themselves in a competitive market. As the desire for unique and personalized travel experiences continues to grow, it is expected to be a key driver of the luxury hotel market's expansion.

Focus on Health & Wellness

The COVID-19 pandemic had a profound impact on the global hospitality industry, with luxury hotels being no exception. However, as the world recovers, there has been a significant shift in consumer preferences towards health, safety, and wellness, which is driving growth in the luxury hotel market. Travelers are now prioritizing destinations and accommodations that offer not only luxury but also a focus on well-being, safety, and holistic health.

Luxury hotels have responded by enhancing their health and wellness offerings, including implementing stringent health protocols, providing wellness-focused amenities, and offering personalized health services. Spas, wellness centers, and fitness facilities have become standard features in luxury hotels, with an increased emphasis on organic and sustainable practices. Additionally, luxury hotels are incorporating wellness into the guest experience through activities such as meditation sessions, detox programs, and personalized fitness regimes.

Expansion of Luxury Hotel Brands into Emerging Markets

As the global luxury hotel market becomes increasingly saturated in traditional markets such as North America and Europe, many luxury hotel brands are turning their attention to emerging markets for growth opportunities. Regions like Asia-Pacific, the Middle East, and Africa are seeing significant investments from luxury hotel chains, driven by the growing demand for high-end accommodations in these areas. In Asia-Pacific, countries like China, India, and Thailand are becoming hotspots for luxury hotel development, fueled by rising disposable incomes, a growing middle class, and an increase in inbound tourism. Similarly, the Middle East, particularly the UAE and Saudi Arabia, is witnessing a surge in luxury hotel openings, driven by government initiatives to boost tourism and diversify their economies away from oil dependence.

Africa is also emerging as a key market for luxury hotels, with countries like South Africa, Kenya, and Morocco attracting luxury travelers seeking unique and authentic experiences. The expansion of luxury hotel brands into these emerging markets is not only driven by the potential for revenue growth but also by the opportunity to tap into new customer bases and establish brand presence in rapidly developing regions. The expansion into emerging markets is expected to be a significant driver of the global luxury hotel market, as it opens new avenues for growth and allows luxury hotel brands to reach a broader audience. This trend is likely to continue as more luxury hotel chains seek to capitalize on the opportunities presented by these burgeoning markets.

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Key Market Challenges

High Operational Costs and Investment Risks

One of the primary challenges faced by the global luxury hotel market is the high operational costs associated with maintaining luxury standards. Luxury hotels require significant investments in infrastructure, amenities, and human resources to deliver the premium services expected by their clientele. This includes the costs of maintaining opulent interiors, offering personalized services, employing highly skilled staff, and providing top-tier facilities such as spas, gourmet restaurants, and state-of-the-art technology. The high cost of land acquisition and development in prime locations, where luxury hotels are typically situated, further adds to the financial burden. Additionally, luxury hotels often face higher regulatory and compliance costs, particularly in markets with stringent environmental and safety standards. The need to constantly innovate and upgrade facilities to stay competitive also drives up operational costs.

These high operational costs pose significant investment risks, especially in uncertain economic climates or in regions with volatile political situations. The luxury hotel market is highly sensitive to economic downturns, as discretionary spending on luxury travel tends to decrease during such periods.Luxury hotel operators must carefully manage these risks through strategic planning, efficient operations, and by ensuring a steady stream of high-paying guests. The challenge of balancing the high costs of operation with the need to maintain profitability remains a significant hurdle for the global luxury hotel market.

Market Saturation and Intense Competition

The global luxury hotel market is becoming increasingly saturated, particularly in mature markets like North America and Europe, where the concentration of high-end properties is high. This saturation leads to intense competition among luxury hotel brands, making it challenging to maintain occupancy rates and profitability. The entry of new players into the market further intensifies competition, as they often offer innovative services and competitive pricing to attract customers. Luxury hotels face the challenge of differentiating themselves in a crowded market where consumers have numerous options to choose from. This has led to a trend of increasing customization and personalization in services, with hotels striving to offer unique experiences that set them apart from competitors. However, this also raises the cost of operations, as hotels invest in niche offerings, exclusive amenities, and high-touch services. In addition to traditional luxury hotels, competition is also coming from alternative accommodations.

Key Market Trends

Rising Demand for Experiential Luxury

The luxury hotel market is increasingly driven by consumers seeking unique, tailored experiences that go beyond traditional luxury. Modern travelers are shifting from material opulence to immersive experiences, which include personalized services, exclusive access to local culture, and wellness-oriented offerings. Hotels are responding by curating bespoke experiences, such as private tours, culinary classes, and wellness retreats, that align with guests' interests and preferences. This trend reflects a broader societal shift toward valuing experiences over possessions, particularly among affluent younger generations, including millennials and Gen Z, who prioritize meaningful connections and personal growth.

Integration of Advanced Technology

The adoption of advanced technology in luxury hotels is enhancing the guest experience and streamlining operations. Technologies such as AI-powered chatbots, virtual reality (VR) tours, and IoT-enabled smart rooms are becoming standard. For example, AI chatbots facilitate seamless communication between guests and hotel staff, while VR tours allow potential guests to experience the hotel virtually before booking. Moreover, IoT technologies enable guests to control room settings, such as lighting and temperature, through mobile apps. The integration of technology not only elevates the guest experience but also optimizes hotel operations, allowing for more personalized services and efficient resource management.

Sustainability as a Core Focus

Environmental sustainability is now a crucial consideration in the luxury hotel market. As eco-consciousness among consumers grows, luxury hotels are adopting sustainable practices, such as reducing carbon footprints, eliminating single-use plastics, and sourcing local and organic materials. Many hotels are obtaining eco-certifications like LEED and Green Key to validate their efforts. The trend is also reflected in the design and construction of new properties, where sustainable architecture and energy-efficient systems are prioritized. This shift is driven by both consumer demand for responsible luxury and regulatory pressures to reduce environmental impact.

Segmental Insights

Type Insights

Business hotels have emerged as a dominant segment within the luxury hotel market, catering to the specific needs of business travelers who demand premium services and facilities. These hotels are strategically located in business districts, financial hubs, and near major airports, ensuring easy access to corporate offices, convention centers, and transportation networks. One of the defining characteristics of business hotels is their focus on providing amenities that enhance productivity and convenience for corporate guests. These include high-speed internet access, well-equipped business centers, state-of-the-art meeting and conference rooms, and express check-in/check-out services. Additionally, business hotels often offer personalized services, such as dedicated concierge teams, private transportation arrangements, and 24/7 room service, ensuring that guests can work efficiently and comfortably. The growth of business hotels in the luxury market is driven by the increasing globalization of business operations and the rise in international business travel.

As companies expand their operations across borders, there is a growing demand for premium accommodations that can support the needs of executives and business travelers. This demand is particularly strong in key global cities like New York, London, Tokyo, and Dubai, where business hotels form a significant part of the luxury hospitality landscape. Moreover, business hotels are evolving to meet the changing preferences of corporate travelers. Modern business hotels are incorporating wellness facilities, fine dining options, and leisure activities, recognizing that today’s business travelers seek a balance between work and relaxation. This blend of functionality and luxury makes business hotels an attractive choice for travelers who prioritize both efficiency and comfort, solidifying their position as a leading type within the luxury hotel market.

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Regional Insights

North America stands as a leading region in the global luxury hotel market, driven by several key factors that contribute to its dominant position. The region, particularly the United States, is home to some of the world's most iconic and sought-after luxury destinations, including New York City, Los Angeles, and Miami. These cities are known for their high concentration of luxury hotels that cater to affluent travelers seeking exceptional experiences.

A major driver of North America's leadership in the luxury hotel market is its robust tourism industry, bolstered by a strong domestic market and a steady influx of international visitors. The United States continues to attract millions of tourists annually, drawn by its diverse attractions ranging from cultural landmarks to natural wonders. This consistent demand has spurred significant investments in the luxury hotel sector, with major hotel chains and boutique brands expanding their presence across key cities. Another factor contributing to North America's prominence is the region's advanced infrastructure and well-established travel and hospitality ecosystem. The presence of world-class airports, extensive transportation networks, and a wide array of upscale dining, shopping, and entertainment options enhances the appeal of luxury hotels in the region. Additionally, the region's reputation for high service standards and innovative hospitality practices further strengthens its position in the global market. The North American luxury hotel market also benefits from a strong business travel segment, with major cities hosting numerous high-profile events, conferences, and corporate meetings. This segment, coupled with a growing demand for unique and personalized experiences, has led to the development of ultra-luxurious properties that offer exclusive amenities and services, solidifying the region's status as a leader in the luxury hotel industry.

Recent Developments

In 2024, Hilton is expanding its luxury hotel portfolio by integrating hundreds of boutique properties from Small Luxury Hotels of the World (SLH) into its Hilton Honors loyalty program.The partnership allows Hilton Honours members to earn and redeem points for stays at participating SLH hotels, providing them with exclusive advantages and access to one-of-a-kind, regionally inspired travel experiences. The diverse collection of SLH hotels spans various locations and styles, from rustic retreats to coastal villas, complementing Hilton's existing luxury brands.
In 2024, OYO has opened its first luxury hotel in Dubai, the Palette Royal Reflections Hotel and Spa. The hotel, which has 100 rooms, a gym, a swimming pool, and dining options, is part of OYO's strategy to extend its global presence, particularly in the Middle East. The company anticipates a significant increase in Indian tourists in 2024, following the relaxation of visa policies for Indian citizens earlier this year. The launch of the hotel aims to attract more Indian tourists and meet their needs for top-of-the-range accommodation.
Cycas Hospitality intends to establish its foothold in the Benelux region in 2024 with the signing of its first hotel in Luxembourg. The 133-room hotel will be part of the GRIDX development, a mixed-use complex in Wickrange, Luxembourg. Cycas will operate the hotel under a management agreement with Félix GIORGETTI S.à r.l., and it is planned to open in mid-2025.
In 2024, Ennismore, a lifestyle hotel brand, and Kasada, a real estate private equity firm focusing on Africa, have partnered to open the first Hyde hotel on the African continent in Johannesburg, South Africa. The hotel, located in the Rosebank district, will undergo a refurbishment to align with the Hyde brand's bohemian aesthetic, featuring new art, music spaces, and a vibrant atmosphere. This investment strengthens Kasada's presence in South Africa, where it has already made several other hospitality investments, and expands the reach of the Hyde Hotels network to a new global destination.

Key Market Players

Accor SA
Belmond Management Ltd.
Four Seasons Hotel Limited
InterContinental Hotels Group PLC
Mandarin Oriental Hotel Group Limited
Marriott International, Inc.
Rosewood Hotel Group
The Indian Hotels Company Limited
Radisson Hotel Group
Hyatt Hotels Corporation

By Type	By Category	By Room Type	By Region
Business Hotels Airport Hotels Holiday Hotels Resorts & Spa Others	Chain Independent	Luxury Upper-Upscale Upscale	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the global luxury hotel market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Luxury Hotel Market, By Type:

o Business Hotels

o Airport Hotels

o Holiday Hotels

o Resorts & Spa

o Others

Luxury Hotel Market, By Category:

o Chain

o Independent

Luxury Hotel Market, By Room Type:

o Luxury

o Upper-Upscale

o Upscale

Luxury Hotel Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ Germany

§ Spain

§ Italy

§ United Kingdom

o Asia-Pacific

§ China

§ Japan

§ India

§ Vietnam

§ South Korea

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Turkey

§ Kuwait

§ Egypt

o South America

§ Brazil

§ Argentina

§ Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the global luxury hotel market.

Available Customizations:

Global luxury hotel market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Luxury Hotel Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Voice of Customer

4.1. Factors Influencing Purchase Decision

4.2. Sources of Information

5. Global Luxury Hotel Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type Market Share Analysis (Business Hotels, Airport Hotels, Holiday Hotels, Resorts & Spa, Others)

5.2.2. By Category Market Share Analysis (Chain, Independent)

5.2.3. By Room Type Market Share Analysis (Luxury, Upper-Upscale, Upscale)

5.2.4. By Regional Market Share Analysis

5.2.4.1. North America Market Share Analysis

5.2.4.2. Europe Market Share Analysis

5.2.4.3. Asia-Pacific Market Share Analysis

5.2.4.4. Middle East & Africa Market Share Analysis

5.2.4.5. South America Market Share Analysis

5.2.5. By Top 5 Companies Market Share Analysis, Others (2023)

5.3. Global Luxury Hotel Market Mapping & Opportunity Assessment

5.3.1. By Type Market Mapping & Opportunity Assessment

5.3.2. By Category Market Mapping & Opportunity Assessment

5.3.3. By Room Type Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. North America Luxury Hotel Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type Market Share Analysis

6.2.2. By Category Market Share Analysis

6.2.3. By Room Type Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. United States Luxury Hotel Market Outlook

6.2.4.1.1. Market Size & Forecast

6.2.4.1.1.1. By Value

6.2.4.1.2. Market Share & Forecast

6.2.4.1.2.1. By Type Market Share Analysis

6.2.4.1.2.2. By Category Market Share Analysis

6.2.4.1.2.3. By Room Type Market Share Analysis

6.2.4.2. Canada Luxury Hotel Market Outlook

6.2.4.2.1. Market Size & Forecast

6.2.4.2.1.1. By Value

6.2.4.2.2. Market Share & Forecast

6.2.4.2.2.1. By Type Market Share Analysis

6.2.4.2.2.2. By Category Market Share Analysis

6.2.4.2.2.3. By Room Type Market Share Analysis

6.2.4.3. Mexico Luxury Hotel Market Outlook

6.2.4.3.1. Market Size & Forecast

6.2.4.3.1.1. By Value

6.2.4.3.2. Market Share & Forecast

6.2.4.3.2.1. By Type Market Share Analysis

6.2.4.3.2.2. By Category Market Share Analysis

6.2.4.3.2.3. By Room Type Market Share Analysis

7. Europe Luxury Hotel Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type Market Share Analysis

7.2.2. By Category Market Share Analysis

7.2.3. By Room Type Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. France Luxury Hotel Market Outlook

7.2.4.1.1. Market Size & Forecast

7.2.4.1.1.1. By Value

7.2.4.1.2. Market Share & Forecast

7.2.4.1.2.1. By Type Market Share Analysis

7.2.4.1.2.2. By Category Market Share Analysis

7.2.4.1.2.3. By Room Type Market Share Analysis

7.2.4.2. Germany Luxury Hotel Market Outlook

7.2.4.2.1. Market Size & Forecast

7.2.4.2.1.1. By Value

7.2.4.2.2. Market Share & Forecast

7.2.4.2.2.1. By Type Market Share Analysis

7.2.4.2.2.2. By Category Market Share Analysis

7.2.4.2.2.3. By Room Type Market Share Analysis

7.2.4.3. Spain Luxury Hotel Market Outlook

7.2.4.3.1. Market Size & Forecast

7.2.4.3.1.1. By Value

7.2.4.3.2. Market Share & Forecast

7.2.4.3.2.1. By Type Market Share Analysis

7.2.4.3.2.2. By Category Market Share Analysis

7.2.4.3.2.3. By Room Type Market Share Analysis

7.2.4.4. Italy Luxury Hotel Market Outlook

7.2.4.4.1. Market Size & Forecast

7.2.4.4.1.1. By Value

7.2.4.4.2. Market Share & Forecast

7.2.4.4.2.1. By Type Market Share Analysis

7.2.4.4.2.2. By Category Market Share Analysis

7.2.4.4.2.3. By Room Type Market Share Analysis

7.2.4.5. United Kingdom Luxury Hotel Market Outlook

7.2.4.5.1. Market Size & Forecast

7.2.4.5.1.1. By Value

7.2.4.5.2. Market Share & Forecast

7.2.4.5.2.1. By Type Market Share Analysis

7.2.4.5.2.2. By Category Market Share Analysis

7.2.4.5.2.3. By Room Type Market Share Analysis

8. Asia-Pacific Luxury Hotel Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type Market Share Analysis

8.2.2. By Category Market Share Analysis

8.2.3. By Room Type Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. China Luxury Hotel Market Outlook

8.2.4.1.1. Market Size & Forecast

8.2.4.1.1.1. By Value

8.2.4.1.2. Market Share & Forecast

8.2.4.1.2.1. By Type Market Share Analysis

8.2.4.1.2.2. By Category Market Share Analysis

8.2.4.1.2.3. By Room Type Market Share Analysis

8.2.4.2. Japan Luxury Hotel Market Outlook

8.2.4.2.1. Market Size & Forecast

8.2.4.2.1.1. By Value

8.2.4.2.2. Market Share & Forecast

8.2.4.2.2.1. By Type Market Share Analysis

8.2.4.2.2.2. By Category Market Share Analysis

8.2.4.2.2.3. By Room Type Market Share Analysis

8.2.4.3. India Luxury Hotel Market Outlook

8.2.4.3.1. Market Size & Forecast

8.2.4.3.1.1. By Value

8.2.4.3.2. Market Share & Forecast

8.2.4.3.2.1. By Type Market Share Analysis

8.2.4.3.2.2. By Category Market Share Analysis

8.2.4.3.2.3. By Room Type Market Share Analysis

8.2.4.4. Vietnam Luxury Hotel Market Outlook

8.2.4.4.1. Market Size & Forecast

8.2.4.4.1.1. By Value

8.2.4.4.2. Market Share & Forecast

8.2.4.4.2.1. By Type Market Share Analysis

8.2.4.4.2.2. By Category Market Share Analysis

8.2.4.4.2.3. By Room Type Market Share Analysis

8.2.4.5. South Korea Luxury Hotel Market Outlook

8.2.4.5.1. Market Size & Forecast

8.2.4.5.1.1. By Value

8.2.4.5.2. Market Share & Forecast

8.2.4.5.2.1. By Type Market Share Analysis

8.2.4.5.2.2. By Category Market Share Analysis

8.2.4.5.2.3. By Room Type Market Share Analysis

9. Middle East & Africa Luxury Hotel Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type Market Share Analysis

9.2.2. By Category Market Share Analysis

9.2.3. By Room Type Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. South Africa Luxury Hotel Market Outlook

9.2.4.1.1. Market Size & Forecast

9.2.4.1.1.1. By Value

9.2.4.1.2. Market Share & Forecast

9.2.4.1.2.1. By Type Market Share Analysis

9.2.4.1.2.2. By Category Market Share Analysis

9.2.4.1.2.3. By Room Type Market Share Analysis

9.2.4.2. Saudi Arabia Luxury Hotel Market Outlook

9.2.4.2.1. Market Size & Forecast

9.2.4.2.1.1. By Value

9.2.4.2.2. Market Share & Forecast

9.2.4.2.2.1. By Type Market Share Analysis

9.2.4.2.2.2. By Category Market Share Analysis

9.2.4.2.2.3. By Room Type Market Share Analysis

9.2.4.3. UAE Luxury Hotel Market Outlook

9.2.4.3.1. Market Size & Forecast

9.2.4.3.1.1. By Value

9.2.4.3.2. Market Share & Forecast

9.2.4.3.2.1. By Type Market Share Analysis

9.2.4.3.2.2. By Category Market Share Analysis

9.2.4.3.2.3. By Room Type Market Share Analysis

9.2.4.4. Turkey Luxury Hotel Market Outlook

9.2.4.4.1. Market Size & Forecast

9.2.4.4.1.1. By Value

9.2.4.4.2. Market Share & Forecast

9.2.4.4.2.1. By Type Market Share Analysis

9.2.4.4.2.2. By Category Market Share Analysis

9.2.4.4.2.3. By Room Type Market Share Analysis

9.2.4.5. Kuwait Luxury Hotel Market Outlook

9.2.4.5.1. Market Size & Forecast

9.2.4.5.1.1. By Value

9.2.4.5.2. Market Share & Forecast

9.2.4.5.2.1. By Type Market Share Analysis

9.2.4.5.2.2. By Category Market Share Analysis

9.2.4.5.2.3. By Room Type Market Share Analysis

9.2.4.6. Egypt Luxury Hotel Market Outlook

9.2.4.6.1. Market Size & Forecast

9.2.4.6.1.1. By Value

9.2.4.6.2. Market Share & Forecast

9.2.4.6.2.1. By Type Market Share Analysis

9.2.4.6.2.2. By Category Market Share Analysis

9.2.4.6.2.3. By Room Type Market Share Analysis

10. South America Luxury Hotel Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type Market Share Analysis

10.2.2. By Category Market Share Analysis

10.2.3. By Room Type Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. Brazil Luxury Hotel Market Outlook

10.2.4.1.1. Market Size & Forecast

10.2.4.1.1.1. By Value

10.2.4.1.2. Market Share & Forecast

10.2.4.1.2.1. By Type Market Share Analysis

10.2.4.1.2.2. By Category Market Share Analysis

10.2.4.1.2.3. By Room Type Market Share Analysis

10.2.4.2. Argentina Luxury Hotel Market Outlook

10.2.4.2.1. Market Size & Forecast

10.2.4.2.1.1. By Value

10.2.4.2.2. Market Share & Forecast

10.2.4.2.2.1. By Type Market Share Analysis

10.2.4.2.2.2. By Category Market Share Analysis

10.2.4.2.2.3. By Room Type Market Share Analysis

10.2.4.3. Colombia Luxury Hotel Market Outlook

10.2.4.3.1. Market Size & Forecast

10.2.4.3.1.1. By Value

10.2.4.3.2. Market Share & Forecast

10.2.4.3.2.1. By Type Market Share Analysis

10.2.4.3.2.2. By Category Market Share Analysis

10.2.4.3.2.3. By Room Type Market Share Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Impact of COVID-19 on Global Luxury Hotel Market

12.1. Impact Assessment Model

12.1.1. Key Segments Impacted

12.1.2. Key Regions Impacted

12.1.3. Key Countries Impacted

13. Market Trends & Developments

14. Competitive Landscape

14.1. Company Profiles

14.1.1. Accor SA

14.1.1.1. Company Details

14.1.1.2. Products

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Key Market Focus & Geographical Presence

14.1.1.5. Recent Developments

14.1.1.6. Key Management Personnel

14.1.2. Belmond Management Ltd.

14.1.2.1. Company Details

14.1.2.2. Products

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Key Market Focus & Geographical Presence

14.1.2.5. Recent Developments

14.1.2.6. Key Management Personnel

14.1.3. Four Seasons Hotel Limited

14.1.3.1. Company Details

14.1.3.2. Products

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Key Market Focus & Geographical Presence

14.1.3.5. Recent Developments

14.1.3.6. Key Management Personnel

14.1.4. InterContinental Hotel Group PLC

14.1.4.1. Company Details

14.1.4.2. Products

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Key Market Focus & Geographical Presence

14.1.4.5. Recent Developments

14.1.4.6. Key Management Personnel

14.1.5. Mandarin Oriental Hotel Group Limited

14.1.5.1. Company Details

14.1.5.2. Products

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Key Market Focus & Geographical Presence

14.1.5.5. Recent Developments

14.1.5.6. Key Management Personnel

14.1.6. Marriott International, Inc.

14.1.6.1. Company Details

14.1.6.2. Products

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Key Market Focus & Geographical Presence

14.1.6.5. Recent Developments

14.1.6.6. Key Management Personnel

14.1.7. Rosewood Hotel Group

14.1.7.1. Company Details

14.1.7.2. Products

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Key Market Focus & Geographical Presence

14.1.7.5. Recent Developments

14.1.7.6. Key Management Personnel

14.1.8. The Indian Hotels Company Limited

14.1.8.1. Company Details

14.1.8.2. Products

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Key Market Focus & Geographical Presence

14.1.8.5. Recent Developments

14.1.8.6. Key Management Personnel

14.1.9. Radisson Hotel Group

14.1.9.1. Company Details

14.1.9.2. Products

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Key Market Focus & Geographical Presence

14.1.9.5. Recent Developments

14.1.9.6. Key Management Personnel

14.1.10. Hyatt Hotels Corporation

14.1.10.1. Company Details

14.1.10.2. Products

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Key Market Focus & Geographical Presence

14.1.10.5. Recent Developments

14.1.10.6. Key Management Personnel

15. Strategic Recommendations/Action Plan

15.1. Key Focus Areas

15.2. Target Type

15.3. Target Room Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the global luxury hotel market in 2023?

The market size of the global luxury hotel market was estimated to be USD 138.47 Billion in 2023.

What are the major drivers for the global luxury hotel market?

The major drivers for the global luxury hotel market include rising disposable income, shift towards experiential travel, expansion of hospitality industry. These factors collectively contribute to the market's dynamic growth and appeal to diverse end consumers.

What are the major trends for the global luxury hotel market?

Major trends in the global luxury hotel market include growing demand for experiential luxury, adoption of advanced technology in luxury hotels, environmental sustainability. These trends reflect evolving consumer preferences and industry responses to create distinct and appealing offerings.

What are the major challenges for the global luxury hotel market?

Major challenges for the global luxury hotel market encompass the high operational costs associated with maintaining luxury standards, market saturation and intense competition. Understanding these challenges is critical for stakeholders to strategize effectively and ensure long-term growth in this competitive market.

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Parvati Sharma

Account Manager BD

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Press Release

Luxury Hotel Market to Grow with a CAGR of 5.60% through 2029

Nov, 2024

The global luxury hotel market is driven owing to the rise of affluent middle-class populations, and trend towards experiential travel, is propelling innovation in the sector