Product Code: IRTNTR74830
Luxury Hotel Market 2024-2028
The luxury hotel market is forecasted to grow by USD 71 bn during 2023-2028, accelerating at a CAGR of 5.48% during the forecast period. The report on the luxury hotel market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing disposable income among guests, increased preference for luxury hotels to break monotony, and growing number of luxury hotels across world.
Market Scope |
Base Year | 2024 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 5.08% |
CAGR | 5.48% |
Incremental Value | $71 bn |
Technavio's luxury hotel market is segmented as below:
By Type
- Upscale
- Upper-upscale
- Luxury
By Ownership
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the higher acceptance of online booking platforms as one of the prime reasons driving the luxury hotel market growth during the next few years. Also, growing demand for multigenerational and micro trips and increasing number of sports and entertainment events organized across world will lead to sizable demand in the market.
The report on the luxury hotel market covers the following areas:
- Luxury hotel market sizing
- Luxury hotel market forecast
- Luxury hotel market industry analysis
The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading luxury hotel market vendors that include Accor S.A., Aman Group S.a.r.l., Best Western International Inc., Choice Hotels International Inc., Four Seasons Hotels Ltd., Hyatt Hotels Corp., InterContinental Hotels Group PLC, ITC Ltd., Jumeirah International LLC, Kempinski Hotels SA, Kerzner International Ltd., LVMH Group., Marriott International Inc., Rosewood Hotel Group, Shangri La Asia Ltd., Soneva Mauritius Ltd., The Indian Hotel Co. Ltd., and Wyndham Destinations Inc.. Also, the luxury hotel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Ownership
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 2.2 Market characteristics
- Market characteristics analysis
- 2.3 Value chain analysis
3 Market Sizing
- 3.1 Market definition
- Offerings of companies included in the market definition
- 3.2 Market segment analysis
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Global Luxury Hotel Market 2018 - 2022
- Historic Market Size - Data Table on Global Luxury Hotel Market 2018 - 2022 ($ billion)
- 4.2 Type segment analysis 2018 - 2022
- Historic Market Size - Type Segment 2018 - 2022 ($ billion)
- 4.3 Ownership segment analysis 2018 - 2022
- Historic Market Size - Ownership Segment 2018 - 2022 ($ billion)
- 4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
- 4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- 6.1 Market segments
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
- 6.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 6.3 Upscale - Market size and forecast 2023-2028
- Chart on Upscale - Market size and forecast 2023-2028 ($ billion)
- Data Table on Upscale - Market size and forecast 2023-2028 ($ billion)
- Chart on Upscale - Year-over-year growth 2023-2028 (%)
- Data Table on Upscale - Year-over-year growth 2023-2028 (%)
- 6.4 Upper-upscale - Market size and forecast 2023-2028
- Chart on Upper-upscale - Market size and forecast 2023-2028 ($ billion)
- Data Table on Upper-upscale - Market size and forecast 2023-2028 ($ billion)
- Chart on Upper-upscale - Year-over-year growth 2023-2028 (%)
- Data Table on Upper-upscale - Year-over-year growth 2023-2028 (%)
- 6.5 Luxury - Market size and forecast 2023-2028
- Chart on Luxury - Market size and forecast 2023-2028 ($ billion)
- Data Table on Luxury - Market size and forecast 2023-2028 ($ billion)
- Chart on Luxury - Year-over-year growth 2023-2028 (%)
- Data Table on Luxury - Year-over-year growth 2023-2028 (%)
- 6.6 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)
7 Market Segmentation by Ownership
- 7.1 Market segments
- Chart on Ownership - Market share 2023-2028 (%)
- Data Table on Ownership - Market share 2023-2028 (%)
- 7.2 Comparison by Ownership
- Chart on Comparison by Ownership
- Data Table on Comparison by Ownership
- 7.3 Chain - Market size and forecast 2023-2028
- Chart on Chain - Market size and forecast 2023-2028 ($ billion)
- Data Table on Chain - Market size and forecast 2023-2028 ($ billion)
- Chart on Chain - Year-over-year growth 2023-2028 (%)
- Data Table on Chain - Year-over-year growth 2023-2028 (%)
- 7.4 Independent - Market size and forecast 2023-2028
- Chart on Independent - Market size and forecast 2023-2028 ($ billion)
- Data Table on Independent - Market size and forecast 2023-2028 ($ billion)
- Chart on Independent - Year-over-year growth 2023-2028 (%)
- Data Table on Independent - Year-over-year growth 2023-2028 (%)
- 7.5 Market opportunity by Ownership
- Market opportunity by Ownership ($ billion)
- Data Table on Market opportunity by Ownership ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
- 9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
- 9.4 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 9.5 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 9.6 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 9.7 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
- 9.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ billion)
- Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.9 UK - Market size and forecast 2023-2028
- Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Chart on UK - Year-over-year growth 2023-2028 (%)
- Data Table on UK - Year-over-year growth 2023-2028 (%)
- 9.10 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ billion)
- Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
- 9.11 India - Market size and forecast 2023-2028
- Chart on India - Market size and forecast 2023-2028 ($ billion)
- Data Table on India - Market size and forecast 2023-2028 ($ billion)
- Chart on India - Year-over-year growth 2023-2028 (%)
- Data Table on India - Year-over-year growth 2023-2028 (%)
- 9.12 Germany - Market size and forecast 2023-2028
- Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Chart on Germany - Year-over-year growth 2023-2028 (%)
- Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.13 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ billion)
- Data Tables on Market opportunity By Geographical Landscape ($ billion)
10 Drivers, Challenges, and Opportunity/Restraints
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
- 10.4 Market opportunities/restraints
11 Competitive Landscape
- 11.1 Overview
- 11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 11.3 Landscape disruption
- Overview on factors of disruption
- 11.4 Industry risks
- Impact of key risks on business
12 Competitive Analysis
- 12.1 Companies profiled
- 12.2 Market positioning of companies
- Matrix on companies position and classification
- 12.3 Accor S.A.
- Accor S.A. - Overview
- Accor S.A. - Business segments
- Accor S.A. - Key news
- Accor S.A. - Key offerings
- Accor S.A. - Segment focus
- 12.4 Best Western International Inc.
- Best Western International Inc. - Overview
- Best Western International Inc. - Product / Service
- Best Western International Inc. - Key offerings
- 12.5 Choice Hotels International Inc.
- Choice Hotels International Inc. - Overview
- Choice Hotels International Inc. - Product / Service
- Choice Hotels International Inc. - Key offerings
- 12.6 Four Seasons Hotels Ltd.
- Four Seasons Hotels Ltd. - Overview
- Four Seasons Hotels Ltd. - Product / Service
- Four Seasons Hotels Ltd. - Key offerings
- 12.7 Hyatt Hotels Corp.
- Hyatt Hotels Corp. - Overview
- Hyatt Hotels Corp. - Business segments
- Hyatt Hotels Corp. - Key offerings
- Hyatt Hotels Corp. - Segment focus
- 12.8 InterContinental Hotels Group Plc
- InterContinental Hotels Group Plc - Overview
- InterContinental Hotels Group Plc - Product / Service
- InterContinental Hotels Group Plc - Key offerings
- 12.9 ITC Ltd.
- ITC Ltd. - Overview
- ITC Ltd. - Business segments
- ITC Ltd. - Key news
- ITC Ltd. - Key offerings
- ITC Ltd. - Segment focus
- 12.10 Jumeirah International LLC
- Jumeirah International LLC - Overview
- Jumeirah International LLC - Product / Service
- Jumeirah International LLC - Key offerings
- 12.11 Kempinski Hotels SA
- Kempinski Hotels SA - Overview
- Kempinski Hotels SA - Product / Service
- Kempinski Hotels SA - Key offerings
- 12.12 LVMH Group.
- LVMH Group. - Overview
- LVMH Group. - Business segments
- LVMH Group. - Key news
- LVMH Group. - Key offerings
- LVMH Group. - Segment focus
- 12.13 Marriott International Inc.
- Marriott International Inc. - Overview
- Marriott International Inc. - Business segments
- Marriott International Inc. - Key news
- Marriott International Inc. - Key offerings
- Marriott International Inc. - Segment focus
- 12.14 Rosewood Hotel Group
- Rosewood Hotel Group - Overview
- Rosewood Hotel Group - Product / Service
- Rosewood Hotel Group - Key offerings
- 12.15 Shangri La Asia Ltd.
- Shangri La Asia Ltd. - Overview
- Shangri La Asia Ltd. - Product / Service
- Shangri La Asia Ltd. - Key offerings
- 12.16 The Indian Hotel Co. Ltd.
- The Indian Hotel Co. Ltd. - Overview
- The Indian Hotel Co. Ltd. - Product / Service
- The Indian Hotel Co. Ltd. - Key offerings
- 12.17 Wyndham Destinations Inc.
- Wyndham Destinations Inc. - Overview
- Wyndham Destinations Inc. - Product / Service
- Wyndham Destinations Inc. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 13.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 13.4 Research methodology
- 13.5 Data procurement
- 13.6 Data validation
- 13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 13.8 Data synthesis
- 13.9 360 degree market analysis
- 360 degree market analysis
- 13.10 List of abbreviations