Global Luxury Hotel Market by Hotel Type (Holiday, Airport, Resort & Spa, Business) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2017, the global luxury hotel market was worth USD 83.10 million. It is expected to grow at a 4.3% CAGR over the forecast period. The market is expected to be driven by the emerging tourism and corporate sectors in different regions, rising disposable income, an increase in leisure travel preference, and an increasing number of companies.

Luxury resorts are attracted by the rise in purchasing power, as well as the standard of living. Luxury accommodations are becoming more sought-after for corporate events, corporate stays and leisure trips as there is increasing money being invested in the economy.

The demand for luxury accommodation has increased due to the hosting of sporting events in cities and countries. Luxury hotels are increasingly popular with spectators and sports teams traveling to the tournament from different locations. This has led to an increase in bookings. Russia's luxury hotels are expected to gear up for the FIFA World Cup 2018.

Major market players are investing heavily in infrastructure to upgrade their properties with the most up-to-date equipment. This will improve aesthetics and comfort for customers. Control4 Corporation, Crestron Electronics, Inc., and AMX LLC are the main companies that offer automation solutions to control lighting, security, energy, and other connected devices through an Internet of Things ecosystem.

Star Hotel & Casino Sydney provides complete guest control over their 174 luxurious suites. Control4 is integrated into the suites. This allows customers to wirelessly control their televisions, music systems, blinds, lights, and room temperature via tablet/mobile apps. Light sensors are also integrated into the system to help conserve energy. They automatically turn off lights after 30 minutes.

Crestron Electronics, Inc. installed an automation system at the Gateway Canyon Resort in Colorado. It allows for control and monitoring of electrical fittings and electronics. The automated control system installed in Kapari's rooms by AMX LLC allows for high-tech room control.

Type Insights

The market is segmented by hotel type into business, airport and holiday, resorts or spas. Other segments include golf, ski, mountain and lake hotels, as well as cruises. In 2017, the business segment was responsible for 35.0% of all revenue. Over the forecast period, the resorts and spas sector is expected to grow at a rate of more than 5.0%. There is a rising preference for leisure travel and a rise in the demand for resorts and spas specifically designed to help guests unwind and get away from their daily lives.

Crowne Plaza Singapore Changi Airport Terminal 3 is a popular luxury airport hotel. It offers a spa offering reflexology to help overcome jet lag, as well as a gym and swimming pool surrounded by lush rainforest-style gardens. Regal Airport Hotels, Hong Kong, The Fairmont Vancouver Airport Airport, Vancouver, Sofitel London Heathrow, Kempinski Hotel Airport in Munich, Hotel Novotel Bangkok Suvarnabhumi Airport, Airways Hotel, Port Moresby, and Hilton Frankfurt Airport are other popular properties.

To attract customers, major players on the market categorize their properties under different themes, such as beach resorts and mountain/ski resorts and golf hotels. The Sofitel Agadir Thalassa Sea & Spa, Morocco displays peace and tranquility with shades of black and a mix of modern Moroccan culture and traditional Moroccan styles. This resort boasts a private terrace, private beach, and private gardens.

Sea Island, Georgia, is another golf resort that offers state-of the-art facilities to golfers. It includes five covered hitting bays and 300 yards of tee, target greens, short games, an indoor putting laboratory, a gym, and world-class coaches.

Regional Insights

With a revenue share exceeding 35.0%, North America dominated the market in 2017. This trend will continue through the forecast period. In 2017, the U.S. held the largest share of that market's revenue, accounting for more than 35.0%. This is due to its status as a financial hub and a popular tourist destination. Over the forecast period, the fastest growth rate is expected to be in the Asia Pacific region.

Government initiatives to promote tourism in their countries and local areas by raising awareness about the historical or architectural significance of Europe have helped make it more prominent. The rich history of European countries like the U.K. and Spain is an important factor in driving the Europe market.

The global tourism market will benefit from the rising incomes of those living in emerging economies like South Africa, India, China and Thailand. Market growth is expected to slow down or decline in countries that are experiencing political turmoil, economic crisis, and strict Foreign Direct Investment (FDI), regulations.

Insights from the Luxury Hotel Market

The market's key players include Marriott International, Inc., Shangri-La International Hotel Management Ltd., InterContinental Hotels Group, AccorHotels, Taj Hotels Palaces Resorts Safari, and Four Seasons Hotels Limited.

Marriott International, Inc. was one of the major competitors. It contributed significantly to overall market revenue for 2017. The Marriot Group includes JW Marriott, Ritz-Carlton and Bulgari Hotels & Resorts. They also own the St. Regis Hotel, St. Regis St. Regis, Sheraton and St. Regis Hotels.

To expand their geographic footprint, market players may enter into strategic partnerships and mergers and acquisitions (M&A). In March 2017, AccorHotels, for example, announced its strategic partnership in Russia with Rixos Hotels. This partnership will allow it to expand its geographic footprint in countries such as Turkey, Egypt, UAE, UAE, and Russia. To expand its property portfolio, Belmond Management Limited also acquired Cap Juluca on Anguilla in May 2017.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and offers analysis of industry trends for each sub-segment from 2014 to 2025. Up Market Research has divided the global luxury hotel market by type and region for this study.

• Hotel Type Outlook (Revenue, USD Billion, 2014 - 2025)

  • Business

  • Airport

  • Holiday

  • Resorts & Spas

  • Other

• Regional Outlook (Revenue USD Billion, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • France

    • Germany

    • Italy

  • Asia Pacific

    • China

    • India

    • Thailand

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

Up Market Research published a new report titled “Luxury Hotel Market research report which is segmented by Hotel Type (Holiday, Airport, Resort & Spa, Business), By Players/Companies Marriott International, Inc; Shangri-La International Hotel Management Ltd; InterContinental Hotels Group; AccorHotels; Taj Hotels Palaces Resorts Safari; and Four Seasons Hotels Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Luxury Hotel Market Report Segments:

The market is segmented by Hotel Type (Holiday, Airport, Resort & Spa, Business).

Luxury Hotel Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Luxury Hotel Market

Overview of the regional outlook of the Luxury Hotel Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Luxury Hotel Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Luxury Hotel Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Holiday

                2. Airport

                3. Resort & Spa

                4. Business

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Luxury Hotel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Luxury Hotel Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.