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Global Luxury Hotel Market to reach USD 123.49 billion by 2027.

Global Luxury Hotel Market Size study, by Service Type (Business Hotels, Airport Hotels, Suite Hotels, Resorts, Others) and Regional Forecasts 2020-2027

Product Code: OIRTAT_33112289
Publish Date: 14-01-2021
Page: 200

Global Luxury Hotel Market is valued approximately at USD 93.37 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2020-2027. The increase in purchasing power and quality of living is two of the most important reasons driving people to luxurious resorts. Demand for luxurious hotels for business meetings, corporate stays, and recreational vacations is the as more investment is poured into the economy. The hosting of major sporting activities by a city or country has also pushed up demand for luxurious accommodations. Sports clubs, as well as fans coming from all around the world for the tournament, choose to stay in luxurious hotels, resulting in an increase in the number of reservations. For example, luxury hotel chains in Russia has organized for the 2018 FIFA World Cup. Major industry leaders are heavily investing in technology and updating their properties with the most up-to-date facilities in order to improve the aesthetics and overall convenience provided to consumers. For instance, the 174 luxurious suites at Sydney’s Star Hotel & Casino provide full guest access. The suites are equipped with a Control4 system that allows customers to control the tv, music system, room temperature, blinds, and lighting from their tablet or mobile device. Light sensors are also used in the device, which help conserve electricity by turning lights off after 30 minutes of inactivity. Similarly, For managing and recording electrical fittings and appliances in its rooms, the Gateway Canyon Resort in Colorado has mounted a Crestron Electronics, Inc. automation system. Kapari, a luxury hotel on the Greek island of Santorini, has installed an automatic control system by AMX LLC in each room to provide guests with high-tech room control. However, high tariff and pricing in these hotels, may impede market growth over the forecast period of 2020-2027.

The regional analysis of the global Luxury Hotel Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market, since it is a global financial hub as well as one of the most popular tourist destinations for people across the world. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, As People in emerging economies such as India, China, Thailand, Brazil, and South Africa are expected to increase their profits, boosting the global tourism sector and boosting the overall economy.

Major market player included in this report are:
ITC HOTELS
Marriott International Inc.
Accor S.A.
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.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Type:
Business Hotels
Airport Hotels
Suite Hotels
Resorts
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.

Target Audience of the Global Luxury Hotel Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Luxury Hotel Market, by Region, 2018-2027 (USD Billion)
1.2.2. Luxury Hotel Market, By Service Type, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Luxury Hotel Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Luxury Hotel Market Dynamics
3.1. Luxury Hotel Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Growing travel & tourism industry
3.1.3. Rising disposable income
3.1.4. Market Challenges
3.1.5. High costs of innovation and development
3.1.6. Market Opportunities
3.1.7. technological advancement and service innovation,
Chapter 4. Global Luxury Hotel Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Luxury Hotel Market, by Service Type
5.1. Market Snapshot
5.2. Global Luxury Hotel Market by Service Type , Performance – Potential Analysis
5.3. Global Luxury Hotel Market Estimates & Forecasts by Service Type 2017-2027 (USD Billion)
5.4. Luxury Hotel Market, Sub Segment Analysis
5.4.1. Business Hotels
5.4.2. Airport Hotels
5.4.3. Suite Hotels
5.4.4. Resorts
5.4.5. Others
Chapter 6. Global Luxury Hotel Market, Regional Analysis
6.1. Luxury Hotel Market, Regional Market Snapshot
6.2. North America Luxury Hotel Market
6.2.1. U.S. Luxury Hotel Market
6.2.1.1. Service Type breakdown estimates & forecasts, 2017-2027
6.2.2. Canada Luxury Hotel Market
6.3. Europe Luxury Hotel Market Snapshot
6.3.1. U.K. Luxury Hotel Market
6.3.2. Germany Luxury Hotel Market
6.3.3. France Luxury Hotel Market
6.3.4. Spain Luxury Hotel Market
6.3.5. Italy Luxury Hotel Market
6.3.6. Rest of Europe Luxury Hotel Market
6.4. Asia-Pacific Luxury Hotel Market Snapshot
6.4.1. China Luxury Hotel Market
6.4.2. India Luxury Hotel Market
6.4.3. Japan Luxury Hotel Market
6.4.4. Australia Luxury Hotel Market
6.4.5. South Korea Luxury Hotel Market
6.4.6. Rest of Asia Pacific Luxury Hotel Market
6.5. Latin America Luxury Hotel Market Snapshot
6.5.1. Brazil Luxury Hotel Market
6.5.2. Mexico Luxury Hotel Market
6.6. Rest of The World Luxury Hotel Market
Chapter 7. Competitive Intelligence
7.1. Top Market Strategies
7.2. Company Profiles
7.2.1. ITC HOTELS
7.2.1.1. Key Information
7.2.1.2. Overview
7.2.1.3. Financial (Subject to Data Availability)
7.2.1.4. Product Summary
7.2.1.5. Recent Developments
7.2.2. Marriott International Inc.
7.2.3. Accor S.A.
7.2.4. Belmond Ltd.
7.2.5. Four Seasons Hotels Limited
7.2.6. InterContinental Hotels Group plc
7.2.7. Rosewood Hotels & Resorts
7.2.8. Ritz-Carlton Hotel Company, LLC
7.2.9. Hyatt Corporation
7.2.10. Shangri-La International Hotel Management Ltd.
Chapter 8. Research Process
8.1. Research Process
8.1.1. Data Mining
8.1.2. Analysis
8.1.3. Market Estimation
8.1.4. Validation
8.1.5. Publishing
8.2. Research Attributes
8.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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