Zion Market Research

Luxury Hotels Market to Hit $194.63 Billion in 2021: Growth Analysis

Global Luxury Hotels Market Set For Rapid Growth To Reach USD 194.63 Billion By 2021


Sarasota, FL -- (SBWIRE) -- 01/05/2018 -- Tourism is travel for pleasure, enjoyment, fun relaxation etc. Demands of hotels continuously increase with increase in number of tourism. Growing travel and tourism industry is one of the key factors which directly responsible for the growth of luxury hotels industry market. In order to meet the increasing customer satisfaction, luxury hotels are constantly striving to improve their services by focusing on changing consumer preferences. Now a day, luxury hotels come under more innovative ideas and luxury facilities to satisfy the needs of customers.

Request For Free Sample Report: https://goo.gl/m9YdnM

Globally, demand for luxury hotels market has been accelerated by increasing numbers of business meetings and tourism. Furthermore, rise in travel and tourism industry is one of the leading factors for the growth of luxury hotel market. Moreover, market globalization, industrialization and urbanizations are directly responsible for fueling the growth of luxury hotel market. However, luxury hotels market suffered as a result of a strong economic slowdown of the late-2000s recession, between the second half of 2008 and the end of 2009. In addition, the outbreak of the H1N1 influenza virus in various countries is expected to slow down the growth of luxury hotels market. Furthermore, from past few years, many foreign tourists opt for medical treatment in medical emergencies like kidney transplant, liver transplant expected to create huge opportunities in luxury hotel market during forecasting periods.

Based on types, the global market for luxury hotels is segmented into five types: - business hotel, suites hotel, airport hotel, resorts and other hotel. In terms of revenue generation, business hotel is the leading segment in luxury hotel market, followed by airport hotel due continuous increasing number of industrialization and urbanization. Meanwhile, the airport hotels segment will rise at a steady CAGR of 3.7% during the forecast period. The global luxury hotels market will receive a huge impetus from ubiquitous promotional activities, strong branding strategies, and increasing investment in online advertising.

Inquiry more about this report: https://goo.gl/ZMjhYe

Geographically, North America was dominating regional market for aviation analytics in 2015, due to huge investment in infrastructure. In addition, North America holds maximum business centre/headquarters of world premium industries across world. Growing business in Asia Pacific serves as a fastest growing regional market for luxury hotels owing to the huge capital investment in construction of world class infrastructure. Shifting of business hub from west to east especially in China and India is a mean cause for the growth in the Asia Pacific region within the forecast period. Moreover, Latin America and Middle East & Africa is expected to have splendid growth due to growth in tourism sector within the forecasting period.

The key players operative in the global Luxury hotels market includes Starwood Hotels & Resorts, InterContinental Hotels Group PLC, The Indian Hotels Company Limited, Jumeirah International LLC, Kerzner International Resorts, Inc., Marriott International, Inc., Four Seasons Holdings Inc., ITC Hotels Limited, Mandarin Oriental International Limited and Shangri-La International Hotel Management Ltd.

Browse the full report at: https://goo.gl/Fty8d4

About Zion Market Research
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.