A recent report published by Infinium Global Research on luxury hotels market provides in-depth analysis of segments and sub-segments in the global as well as regional luxury hotels market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional luxury hotels market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global luxury hotels market. According to the report, the global luxury hotels market is projected to grow at a CAGR of 4.4% over the forecast period of 2019-2025.
The leading players in the luxury hotels market are investing in infrastructure and upgrading their services offerings. The manor players are adopting strategies such as mergers and acquisitions to expand their market share and increase profitability. For instance, Marriott International, Inc. acquired Starwood Hotels and Resorts Worldwide, LLC. The acquisition has enabled Marriott to offer leading lifestyle brands and a significant global footprint.
The growing travel and tourism industry drives the growth of the luxury hotels market. Factors such as globalization, industrialization, and urbanization contribute to the growth of the luxury hotels market. The increasing number of business travelers promotes the growth of the luxury hotels market. Luxury hotels offer different services such as a comfortable stay, SPA, swimming pool, and fitness center. The rising disposable income fuel the growth of luxury hotels market. The changing lifestyle pattern propels the growth of the luxury hotels market. In addition, hotel owners are using advertising and branding strategies to increase the popularity of the hotel that contributes to the growth of the luxury hotels market. The rising number of global events and parties boosts the growth of the luxury hotels market. On the other side, high costs for the services provided hamper the growth of the luxury hotels market. Moreover, the rising use of technology in luxury hotels is promoting innovation and uniqueness that create novel opportunities for the growth of the luxury hotels market.
Geographically, the global luxury hotels market is classified into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to have a dominant share in the global luxury hotels market. The rising disposable income in the United States contributes to the growth of the North America luxury hotels market. Europe is also anticipated to grow in the luxury hotels market with a healthy CAGR over the forecast period. Asia-Pacific the region is growing in the global luxury hotels market owing to rapid infrastructural development.
The report on global luxury hotels market covers segments such as product type, and application. On the basis of product type, the sub-markets include business hotels, suite hotels, airport hotels, resorts, and other hotels. On the basis of application, the sub-markets include room, food and beverages, SPA, and other applications.
The report provides profiles of the companies in the market such as Marriott International, Four Seasons Holdings Inc., InterContinental Hotels Group PLC, ITC Hotels, Jumeirah International LLC, The Indian Hotels Company Limited, Mandarin Oriental International Limited, Shangri-La International Hotel Management Ltd., Hilton Hotels & Resorts, Rosewood Hotels & Resorts, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of luxury hotels market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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