Global Luxury Hotel Market 2023-2027

Global Luxury Hotel Market 2023-2027

Technavio has been monitoring the luxury hotel market and is forecast to grow by $54.46 bn during 2022-2027, decelerating at a CAGR of 4.5% during the forecast period. Our report on the luxury hotel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing disposable income among guests, increased preference for luxury hotels to break the monotony, and a growing number of luxury hotels across the world.

Technavio's luxury hotel market is segmented as below:

By OwnershipChainIndependentBy TypeUpscaleUpper-upscaleLuxuryBy Geographical LandscapeNorth AmericaEuropeAPACMiddle East and AfricaSouth AmericaThis study identifies the higher acceptance of online booking platforms as one of the prime reasons driving the luxury hotel market growth during the next few years. Also, the growing demand for multigenerational and micro trips and an increasing number of sports and entertainment events organized across the world will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the luxury hotel market covers the following areas:Luxury hotel market sizingLuxury hotel market forecastLuxury hotel market industry analysisTechnavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading luxury hotel market vendors that include Accor S.A., Aman Group Sarl., Best Western International Inc., Choice Hotels International Inc., Four Seasons Hotels Ltd., Hyatt Hotels Corp., InterContinental Hotels Group Plc, ITC Ltd., Jardine Matheson, Jumeirah International LLC, Kempinski Hotels SA, Kerzner International Ltd., LVMH Moet Hennessy Louis Vuitton SE, Marriott International Inc., Rosewood Hotel Group, Shangri La Asia Ltd., Soneva Mauritius Ltd., The Hongkong and Shanghai Hotels Ltd., The Indian Hotel Co. Ltd., and Wyndham Destinations. Also, the luxury hotel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.