Albany, NY -- (SBWIRE) -- 05/16/2014 -- Transparency Market Research Reports incorporated a definite business overview and investigation inclines on "Luxury Hotels Market". This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure.
Luxury Hotels market is one of the fastest growing sectors in the consumer retail segment. The growth in the travel and tourism industry is majorly fuelling the growth of luxury hotel markets. Increasing number of high net worth individuals (HNWIs) globally, primarily in the BRIC countries, the economic growth, the rising disposable income of upper middle class, the increasing dominance of corporate sector on national and international economies and the emerging corporate culture are some of the factors driving the global luxury travel market, which in turn, is driving the growth in the Luxury Hotels market. Economic slowdown and natural disasters, such as earthquake and floods are some of the factors leading to an overall decline in the performance of Luxury Hotel market.
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The market is expected to be driven by emerging countries such as India, China and Dubai. Some of the major luxury hotel chains are Hilton, Sheraton, Starwoods Hotels & Resorts, Four Seasons and Hyatt Hotels Corporation.
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