Luxury Hotel Market 2019 Estimate to Boost Growth in Demand by 2025 in Globally with Top Key Players
Seattle, WA -- (SBWIRE) -- 11/01/2019 -- Luxury hotels Market Overview:
Luxury hotels provide luxurious stay along with various other services such as swimming pool (warm & fresh water), barbeque, spa, gyms, bar and other tailor made services as per the desire and comfort of customers. Several such hotels also provide private garden or private area on beach along with personal sunbeds, to distinguish themselves from other players
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Luxury hotels Market Scope:
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.
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.
The global Luxury Hotel market is valued at 171100 million USD in 2018 and is expected to reach 222900 million USD by the end of 2024, growing at a CAGR of 4.5% between 2019 and 2024.
Luxury hotels Industry Competition
Each industry assessed in the report is studied in relation to different factors such as product and application portfolios, market share, growth potential, future plans, and recent developments. Readers will be able to gain details understanding and knowledge of the competitive landscape. Most importantly, the report sheds light on strategies that leading players are banking on to maintain their dominance in the Luxury hotels market. It shows how the market competition will change in the next few years and how players are preparing themselves to stay ahead of the industry expectation.
The major players in the market are as follows:
1. Marriott International
3. Starwood Hotels & Resorts (Marriott)
4. Hyatt Hotels
5. Four Seasons Holdings
6. Shangri-La International Hotel Management Ltd.
7. InterContinental Hotels Group PLC
8. Mandarin Oriental International Limited
9. The Indian Hotels Company Limited
10. Jumeirah International LLC
11. Kerzner International Resorts
12. ITC Hotels Limited
Market Segment by Type, covers
Market Segment by Applications, can be divided into
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