Report ID: UCMIG25O2006
Luxury Hotel Market Size, Share, Growth Analysis, By Type(Business, Airport, Holiday, Resorts & Spas), By Regional(North America, Asia Pacific, Latin America) - Industry Forecast 2024-2031
Report ID:
UCMIG25O2006 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Luxury Hotel Market Insights
Market Overview:
The value of the world's luxury hotel industry, which was estimated at USD 89.61 billion in 2019, is projected to increase at a CAGR of 4.3% from 2019 to 2024. The development of the business and tourist sectors throughout a number of geographical areas, rising disposable income, rising living standards, and a rising inclination for leisure travel are all factors that have contributed to the market expansion. The growing level of living and purchasing power are important drivers of tourism to luxury resorts. Additionally, as more money is put into the economy, there is a growing need for opulent lodging for business meetings, overnight stays, and vacations.
Luxury Hotel Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Hotels, Resorts & Cruise Lines by segment aggregation, the contribution of the Hotels, Resorts & Cruise Lines in Consumer Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Luxury Hotel Market Report Snapshots
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