Luxury Hotel Market Size, Share, Trends, Growth Outlook

The Global Luxury Hotel Market is estimated to be US$ 125.4 Billion in 2023. It is poised to register 7.5% growth over the forecast period from 2023 to 2030 to reach US $ 208 billion in 2030.

 

The market growth is driven by the Luxury hotels are increasingly adopting sustainable initiatives, such as green building design, energy efficiency, waste reduction, and local sourcing to attract environmentally-conscious travelers. Leading companies are focusing on Global Expansion and Emerging Markets, Technology Integration, Art and Culture, Health and Safety Standards, and others to boost market shares in the industry.

 

Market Overview

The luxury hotel market is characterized by high-end amenities, exceptional service, unique design, prime locations, and exclusive experiences. Key trends in the industry include a growing emphasis on sustainability, wellness and health offerings, technology integration, culinary excellence, and personalized experiences. Leading players in the luxury hotel sector include Four Seasons, The Ritz-Carlton, Aman Resorts, Rosewood, Belmond, St. Regis, Mandarin Oriental, Waldorf Astoria, Jumeirah, and Bvlgari.

 

Market Dynamics

Market Trends- Luxury Hotels Focus on Health and Safety to Attract Customers

Luxury hotels are prioritizing health and safety measures to attract customers in the luxury hotel market, particularly due to the impact of COVID-19. They are implementing strict cleaning protocols, touchless technology, and stringent health standards to provide guests with a secure and comfortable experience. This strategy aligns with evolving traveler expectations and demonstrates a commitment to safeguarding guest health while maintaining a focus on delivering exceptional service.

 

Market Driver- Tech Integration Demand for Luxury Hotel Market

Luxury hotels are prioritizing tech integration to enhance guest experiences and operational efficiency. This includes features like mobile check-in, smart room controls, AI-powered personalization, and digital concierge services, streamlining interactions and offering tailored experiences. Tech integration also contributes to sustainability efforts by optimizing energy usage and waste reduction, ultimately providing a seamless, personalized, and eco-conscious stay for guests.

 

 

Market Opportunity-Introduction of Luxury Travel Advisors

Luxury hotels are increasingly focusing on building strong relationships with luxury travel advisors to tap into their influence in recommending and promoting their properties to high-net-worth clients. This collaboration ensures that luxury hotels remain top choices for travelers seeking exclusive and personalized experiences, leveraging the advisors' personalized recommendations and insights to attract and retain a valuable clientele in the luxury hotel market.

 

Market Share Analysis- Resorts Luxury Hotel Market will register the fastest growth

The Global Luxury Hotel Market is analyzed across Business Hotels, Resorts, Suite Hotels, airport hotels, and others. Of these, Resorts will register the fastest growth.    Luxury resorts are a significant subset of the luxury hotel market, offering upscale accommodations and a range of amenities in picturesque or exotic locations. These resorts emphasize spacious villas or suites, fine dining, wellness facilities, and various recreational activities to provide guests with a comprehensive and exclusive vacation experience.

 

Market Share Analysis- Individuals held a significant market share in 2023

The Global Luxury Hotel Market is analyzed across various applications including Individuals, Groups, corporations, and others. Of these, Individuals held a significant market share in 2023. In the luxury hotel market, "individuals" refer to affluent and discerning travelers with substantial disposable income who seek exclusive and personalized experiences. Luxury hotels cater to this demographic by offering opulent amenities, top-notch services, unique experiences, and personalized attention to meet or exceed their expectations for luxury and comfort.

 

Luxury Hotel Market Segmentation

By Type

• Business Hotels
• Resorts
• Suite Hotels
• Airport Hotels
• Others

 

By Application

• Individual
• Group
• Corporates

 

By Booking Mode

• Travel Agents
• Online Travel Portal
• Direct Booking
• Others

 

By Category

• Independent
• Chain

 

By Service

• Accommodation
• Dine in
• Spas
• Others

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Luxury Hotel Market Companies

 

• Intercontinental Hotels Group Plc (United Kingdom)
• Hyatt Hotels Corporation (United States)
• Marriott International Inc (United States)
• Mandarin Oriental (Hong Kong)
• Accor S.A. (France)
• Six senses (Thailand)
• Belmond (United Kingdom)
• Rosewood (United States)
• Four seasons (Canada)
• Soneva (Maldives)
• Raffle’s hotels & resorts (United Kingdom)
• One&only resorts (UAE)

 

* List not exhaustive

 

Luxury Hotel Market Outlook 2023

1 Market Overview

1.1 Introduction to the Luxury Hotel Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Luxury Hotel Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Luxury Hotel Market Companies with Area Served

4.2.2 Products Offerings Global Luxury Hotel Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 Post-COVID-19 Scenario- Low Growth Case

5.1.3 Post-COVID-19 Scenario- Reference Growth Case

5.1.4 Post-COVID-19 Scenario- Low Growth Case

 

6 Global Luxury Hotel Market Trends

6.1 Global Luxury Hotel Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Luxury Hotel Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Luxury Hotel Revenue (USD Million) and CAGR (%) by Regions (2018-2030)

 

7 Global Luxury Hotel Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Luxury Hotel Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Luxury Hotel Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Luxury Hotel Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Luxury Hotel Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Luxury Hotel Development Regional Status and Outlook

8.1 Global Luxury Hotel Revenue (USD Million) By Regions (2018-2022)

8.2 North America Luxury Hotel Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Luxury Hotel Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Luxury Hotel Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Luxury Hotel Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Luxury Hotel Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Luxury Hotel Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Luxury Hotel Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Luxury Hotel Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Luxury Hotel Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Luxury Hotel Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Luxury Hotel Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Luxury Hotel Revenue (USD Million) by Applications (2018-2022)

8.5 South America Luxury Hotel Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Luxury Hotel Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Luxury Hotel Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Luxury Hotel Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Luxury Hotel Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Luxury Hotel Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Luxury Hotel Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Luxury Hotel Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Luxury Hotel Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Luxury Hotel Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Luxury Hotel Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Luxury Hotel Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Luxury Hotel Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Luxury Hotel Development Regional Status and Outlook Forecast

11.1 Global Luxury Hotel Revenue (USD Million) By Regions (2023-2030)

11.2 North America Luxury Hotel Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Luxury Hotel Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Luxury Hotel Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Luxury Hotel Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Luxury Hotel Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Luxury Hotel Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Luxury Hotel Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Luxury Hotel Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Luxury Hotel Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Luxury Hotel Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Luxury Hotel Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Luxury Hotel Revenue (USD Million), by Applications (2023-2030)

11.5 South America Luxury Hotel Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Luxury Hotel Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Luxury Hotel Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Luxury Hotel Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Luxury Hotel Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Luxury Hotel Revenue (USD Million), by Region (2023-2030)

11.6.2 Middle East and Africa Luxury Hotel Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Luxury Hotel Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Luxury Hotel Market Companies with Areas Served

Table 3 Products Offerings Global Luxury Hotel Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Luxury Hotel Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Luxury Hotel Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Luxury Hotel Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Table 11 Global Luxury Hotel Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Luxury Hotel Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Luxury Hotel Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Luxury Hotel Market Share (%) By Regions (2018-2022)

Table 16 North America Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Table 17 North America Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Table 18 North America Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Table 26 South America Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Table 27 South America Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Luxury Hotel Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Table 33 Global Luxury Hotel Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Luxury Hotel Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Luxury Hotel Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Luxury Hotel Revenue (USD)By Country (2023-2030)

Table 38 North America Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Table 39 North America Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Table 47 South America Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Table 48 South America Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Luxury Hotel Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Luxury Hotel Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Luxury Hotel Revenue Market Share (%) By Type (2022)

Figure 5 Global Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Luxury Hotel Revenue Market Share (%) By Applications (2022)

Figure 7 Global Luxury Hotel Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Luxury Hotel Market Share (%) By Regions (2022)

Figure 9 North America Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Luxury Hotel Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Luxury Hotel Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Luxury Hotel Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Luxury Hotel Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Luxury Hotel Revenue Market Share (%) By Type (2030)

Figure 26 Global Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Luxury Hotel Revenue Market Share (%) By Applications (2030)

Figure 28 Global Luxury Hotel Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Luxury Hotel Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Luxury Hotel Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Luxury Hotel Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Luxury Hotel Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Luxury Hotel Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches For This Report

Figure 46 Data Triangulation

 

 

Luxury Hotel Market Segmentation

By Type

• Business Hotels
• Resorts
• Suite Hotels
• Airport Hotels
• Others

 

By Application

• Individual
• Group
• Corporates

 

By Booking Mode

• Travel Agents
• Online Travel Portal
• Direct Booking
• Others

 

By Category

• Independent
• Chain

 

By Service

• Accommodation
• Dine in
• Spas
• Others

 

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)