Luxury Hotels Market is expected to reach USD 20,442 million by 2022
Luxury Hotels Market Drivers and restraints:
The brand and promotions play a vital role in the growth of the market. In order to meet the ever-changing demands of consumers, luxury hotels constantly seek to improve their services. Their owners pay special attention to the configuration of new services, including free services and personalization of the room, with hotel staff trained to satisfy guests. In addition, as people become more aware of their brand, a successful brand strategy and marketing can increase consumer awareness and affinity, and therefore loyalty. In addition, the growing organization of international events gives a tremendous boost to the luxury hotel market. In addition, it is expected that the spread of epidemics like H1N1 flu in several countries will slow down the growth of the market. In addition, in recent years, many foreign tourists have opted for medical treatment in cases of medical emergencies such as kidney transplants or liver transplants, which should create huge opportunities in the luxury hotel market during the forecast period.
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Luxury Hotels Market Geographical segmentation:
Geographically, North America dominated the regional markets due to significant investments in infrastructure. In addition, North America has the largest number of leading business centers and industry headquarters in the world. Business growth in Asia Pacific is the faster in luxury hotel market due to the huge capital investment in building world-class infrastructure. The change of business centers from west to east, particularly in China and India, is a cause of the average growth in the Asia-Pacific region during the forecast period. In addition, Latin America, the Middle East and Africa are expected to experience remarkable growth due to the growth in the tourism sector during the foreseen period.
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Luxury Hotels Market Major Companies:
The main players in the global luxury hotel market include 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.
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Key Takeaways from this Report:
- For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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