Los Angeles, CA -- (SBWire) -- 05/03/2019 --The luxury hotel industry is one of the major customer service industries globally. Growing travel and tourism industry is one of the key reasons behind the growth of luxury hotels industry. In order to meet the increasing demand for unique customer services, luxury hotels are constantly striving to improve their services by focusing on changing consumer preferences.
Nowadays, the top five companies make up more than 26.37% market share of the luxury hotels market, and the world's large enterprises are mainly concentrated in North America. The top five vendors are Marriott International, Hilton, Hyatt Hotels, Four Seasons Holdings Inc. and Shangri-La International Hotel Management Ltd. They respectively took a global market share as 13.59%, 6.59%, 2.53%, 2.41%, and 1.24% in 2017.
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United States was the largest consumer market with a market share of 35.71% in 2013 and 32.05% in 2017 with a decrease of 3.66%. China and EU ranked the second and third markets with the market share of 18.58% and 17.28% in 2017.
In 2018, the global Luxury Hotel market size was 171100 million US$ and it is expected to reach 241800 million US$ by the end of 2025, with a CAGR of 4.4% between 2019 and 2025.
This report studies the Luxury Hotel market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
This report focuses on the global top players, covered
Marriott International
Hilton
Starwood Hotels & Resorts (Marriott)
Hyatt Hotels
Four Seasons Holdings
Shangri-La International Hotel Management Ltd.
InterContinental Hotels Group PLC
Mandarin Oriental International Limited
The Indian Hotels Company Limited
Jumeirah International LLC
Kerzner International Resorts
ITC Hotels Limited
Market segment by Regions/Countries, this report covers
North America
Europe
China
Rest of Asia Pacific
Central & South America
Middle East & Africa
Market segment by Type, the product can be split into
Business Hotel
Suite Hotel
Airport Hotel
Resorts Hotel
Market segment by Application, the market can be split into
Room
F&B
SPA
Others
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