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Luxury Hotels Market Size 2021 Future Demands, Emerging Technologies, Prominent Players, Future Plans and Forecast till 2030

In a recent published report, Kenneth Research has updated the market report for Luxury Hotels Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Luxury Hotels Market products.

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The Report Title Luxury Hotels Market has been added by Kenneth Research, provides detailed insights of the market scenario which is further classified on the basis of market size and market volume, along with the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2021-2024.

Luxury hotels refer to the hotels that provide various luxurious services such as swimming pool, spa, bar, gym, private garden, private beach and other services according to the customer desire and comfort. Luxury tourism has given birth to luxury hotels that are characterized by a high end experience at a finest price.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Market Size and Forecast

The global luxury hotels market is expected to grow at a CAGR of 4.3% over the forecast period i.e. 2017-2024. Further, luxury hotels market is anticipated to reach USD 23 billion globally by 2024. Rise in travel & tourism industry, growth in preference for leisure travel, and change in standard of living is anticipated to foster the growth of luxury hotel market.

Regionally, North America and European region accounted for about two-third of the total luxury hotel market. North America accounts for the largest share in global luxury hotel market. Further, U.S. dominates the North America region owing to huge presence of luxury hotels. Latin America is expected to garnish the growth of luxury hotels market by the end of 2024. Further, Mexico is expected to witness a tremendous growth over the forecast period.

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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

North America is trailed by Europe and Asia-Pacific. Rising tourism in Germany, Italy, France and U.K. is believed to spur the demand for luxury hotels in Europe region. On the other hand, Asia-Pacific is expected to grow at a tremendous rate over the forecast period. Moreover, rising disposable income in China and India is projected to positively impact the market.

Further, Saudi Arabia is the fastest growing luxury hotel market anticipated to expand at a CAGR of 12.6% over the forecast period. Thailand is the second largest market in terms of luxury rooms owing to rise in tourism. Many hoteliers are planning to expand their luxury hotels in developing nations owing to rise in per capita income.

Key players

The major key players for luxury hotels market are as follows

  • Four Seasons Holdings Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Intercontinental Hotels Group
  • Marriott International Inc.
  • Hyatt Corporation
  • ITC Hotels Limited
  • Shangri-La International Hotel Management Ltd.
  • Sheraton
  • Hilton
  • Starwood Hotels and Resorts Worldwide
  • Jumeirah International LLC
  • The Indian Hotel Companies Limited

Scope and Context

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Growth Drivers and Challenges

Riding on the back of growing tourism and rise in affluent leisure coupled with increasing business travels across the globe are believed to be the dynamic factors behind the growth of luxury hotel market. Further, growing number of international events is also envisioned to bolster the growth this market.

Moreover, rising disposable income coupled with changing lifestyles have boosted the demand for luxury hotels during holidays and travel. In addition, more and more consumers are showing interests towards luxurious services which are expected to propel the growth of luxury hotel market. However, damages caused by natural disasters and terrorist threats are expected to hamper the growth of luxury hotel market.

Answered to The Frequently Asked Questions:

What Is the Scope of The Report?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

What Are The Key Segments In The Market?

  • By product type
  • By End User/Applications
  • By Technology
  • By Region

Which Market Dynamics Affects The Business?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

Key Topic Covered in this Report

  • Market Growth Opportunities
  • Leading Market Players
  • Market Size and Growth Rate
  • Market Growth Drivers
  • Company Market Share
  • Market Trends and Technological
  • Impact Analysis of COVID-19 Pandemic on The Global Market

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Download Sample of This Strategic Report-:
https://www.kennethresearch.com/sample-request-10075477

About Kenneth Research:

Kenneth Research is a multi-client market research report selling agency that aids business professionals to strategize their business plans for future expansion. With the help of the presence of a large database of syndicated market research reports, along with the scope for report customization, the platform provides a wide opportunity to industry professionals to achieve their end objectives. Kenneth Research offers its services to a scattered level of industries, including consumer goods and food, healthcare, information and communication technology, energy and power and chemical among others.

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Kenneth Research

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James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology

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