Transparency Market Research has published a new report on the global luxury hotels market. As per the report, the global luxury hotels market stood at US$148.6 bn in 2014 and is predicted to reach US$195.2 bn by 2021. The report, titled ‘Luxury Hotels Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021’, states that the global luxury hotels market is predicted to expand at a 4.0% CAGR during the period between 2015 and 2021.
Browse full Luxury Hotels Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2021 report at https://www.transparencymarketresearch.com/luxury-hotels-market.html
The luxury hotels industry is one of the leading customer service industries globally. To meet the growing needs of travelers, hotels are constantly taking efforts to offer services that match changing customer preferences. The global luxury hotels market is segmented on the basis of type and geography. Based on geography, the global luxury hotels market is divided into North America, Asia Pacific, Europe, and Rest of the World. In 2014, in terms of revenue, the global luxury hotels market was dominated by North America. The North America luxury hotels market is predicted to expand at a 5.40% CAGR during the period between 2015 and 2021. Changing lifestyles, increasing disposable income, and growing interest in luxurious resorts are some of the factors responsible for the growth of the global luxury hotels market during the forecast period.
Starwood Hotels & Resorts, InterContinental Hotels Group PLC, The Indian Hotels Company Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., Marriott International, Inc., Four Seasons Holdings Inc., ITC Hotels Limited, Mandarin Oriental International Limited, and Shangri-La International Hotel Management Ltd. are some of the leading companies operating in the global luxury hotels market. The growing number of emerging luxury hotels across all regions is expected to increase the level of competition for the leading players in the global luxury hotels market in the years to come.
The flourishing travel and tourism industry has been the major driving factor for the global luxury hotels market in the recent past. Furthermore, the global luxury hotels market is expected to be driven by factors such as the emergence of online booking, easy check-in and check-out processes, and advanced hotel booking services.
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