Luxury Hotels Market Is Driven By High Popularity Of Various Luxury Hotels Across The Globe

Luxury hotel mainly provides luxurious accommodation along with various facilities such as spa, barbeque, swimming pool, bar, gym, the private beach along with sunbed and others as per desire and comfort of the end user. High investment in lavish interiors and rapid adoption of technologically advanced appliances, among various luxury hotels across the globe which helps to increase the popularity of luxury hotels in many areas of the globe. There are various types of hotels such as business hotels, suite hotels, spa hotels, airport hotels and resorts, and holiday hotels available across the globe and tourist can choose anyone from the above-mentioned hotel type as per their convenience, comfort, and requirement.

Expanding the travel and tourism industry across the globe and the rising number of individuals traveling across the globe for several purposes such as business, vacation, entertainment, social, adventure, religious, and other purposes. Increasing inclination towards leisure travel and rising per capita income of individuals results in growing demand for luxury accommodations among individuals.

Increasing various facilities provided by the tourism industry such as a discount on a domestic and international holiday, honeymoon, other packages and various travel deals provided to the consumer as per their convenience. Also, rising various corporate events, a rising number of various tournaments and various sports events such as Cricket World Cup, FIFA World Cup, IIFA Awards, and other awards functions, and others across the globe resulting in growing demand for luxury accommodations among the sports teams and spectators.

Furthermore, an increasing number of tourism advertisements by major luxury accommodations providers and rising government campaign across the globe results in a growing demand for opulence accommodations among individuals.

The luxury hotels type segmentation includes business hotels, suite hotels, airport hotels, and resorts. An increasing number of business traveling activities across the globe results in rising demand for business hotels among the business traveler across the globe.

The luxury hotels application segmentation includes room, food & beverage, and spa. Growing demand for various types of food and beverages among individuals results in high growth of the food & beverage segment among the other segment.

However, an increasing number of terrorist threats across the globe and stringent rules associated with FDI (foreign direct investment) these may hamper demand for luxury hotels.

High availability of various luxury hotels such as business hotels, suite hotels, airport hotels in countries such as Canada and US in the North America region. Also, well-established tourism and travel industry and high preference for adventure and entertainment trips in this region. Increasing disposable income, growing corporate sector and the rising number of family vacation trips, in countries such as India, China, and Japan in the Asia Pacific region. Increasing promotional activities by government and the rising popularity of resorts, suite hotels, and business hotels in countries such as Brazil, Mexico, Israel, South Africa, Germany, France, the UK in Latin America, Middle East & Africa, and Europe region.

Prominent players in the luxury hotel market includes Marriott International, Hilton, Starwood Hotels & Resorts(Marriott), Hyatt Hotels, Four Seasons Holdings Inc., Shangri-La International Hotel Management, InterContinental Hotels Group, Mandarin Oriental International, The Indian Hotels Company, Jumeirah International, Kerzner International Resorts, and ITC Hotels.