Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Luxury Hotels: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The luxury hotels market, valued at approximately US$101.3 billion in 2022, is anticipated to surge to a staggering US$150.9 billion by 2030, with a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
Within this market, Business Hotels are expected to exhibit robust growth, recording a 5.7% CAGR, and reaching a market size of US$54.5 billion by the end of the analysis period. Additionally, in light of the ongoing post-pandemic recovery, the Suite Hotels segment is readjusted to a revised 4.2% CAGR for the next eight years.
U.S. Market Valued at US$27.4 Billion, While China Displays Exceptional Growth at 8.3% CAGR
In 2022, the Luxury Hotels market in the United States was estimated at US$27.4 billion. China, as the world's second-largest economy, is forecasted to attain a projected market size of US$33.3 billion by 2030, exhibiting an impressive CAGR of 8.3% during the analysis period from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, with respective growth rates of 2.8% and 4.3% projected for the 2022-2030 period. In Europe, Germany is forecasted to grow at an approximate 3.6% CAGR.
Key Highlights:
- Market Overview: The luxury hotels market is poised to reach US$150.9 billion by 2030, driven by strong growth in Business Hotels and post-pandemic recovery in Suite Hotels.
- Geographic Trends: China's luxury hotels market is projected to grow exceptionally at 8.3% CAGR, with the U.S., Canada, and Germany also displaying noteworthy growth prospects.
- Key Competitors: The report identifies key competitors in various regions, offering valuable insights into the competitive landscape.
- Industry Tables: Comprehensive tables provide insights into annual sales, value sales breakdowns, and CAGR trends from 2014 to 2030 across different global regions.
- Market Presence: The analysis categorizes the market presence of luxury hotels as strong, active, niche, or trivial in various regions, aiding in understanding industry dynamics.
- Special Coverage: The report also provides special coverage on critical global events, including the Russia-Ukraine war, global inflation, China's post-zero-Covid policy reopening, supply chain disruptions, global trade tensions, and the risk of recession.
- Access to Resources: Subscribers gain access to digital archives and the publisher's Research Platform, ensuring up-to-date information and insights.
- Complimentary Updates: Subscribers receive complimentary updates for one year, keeping them informed about industry developments.
This analysis offers a comprehensive view of the luxury hotels market, encompassing past, current, and future performance in various regions across the globe.
It includes data on annual sales in US$ million, value sales breakdowns, and CAGR trends from 2014 through 2030, covering regions such as the United States, Canada, Japan, China, Europe (including France, Germany, Italy, UK, Spain, Russia, and the rest of Europe), Asia-Pacific (encompassing Australia, India, South Korea, and the rest of Asia-Pacific), Latin America (with a focus on Argentina, Brazil, Mexico, and the rest of Latin America), the Middle East (including Iran, Israel, Saudi Arabia, United Arab Emirates, and the rest of the Middle East), and Africa.
Moreover, the report assesses the market presence of luxury hotels in these regions, classifying it as strong, active, niche, or trivial, providing key insights into the competitive landscape for 2023.
These tables furnish valuable data for comprehending the luxury hotels industry's performance and trends in diverse global markets. Subscribers can access digital archives and benefit from complimentary updates for a year, ensuring they stay well-informed about market developments.
A selection of companies mentioned in this report includes
- Four Seasons Hotels Ltd.
- InterContinental Hotels Group plc
- ITC Hotels
- Jumeirah International LLC (Jumeirah Group)
- Kerzner International Management
- Mandarin Oriental International Limited
- Marriott International, Inc.
- Shangri-La International Hotel Management Ltd
- The Indian Hotels Company Limited (IHCL)
For more information about this report visit https://www.researchandmarkets.com/r/ajbftj
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