Luxury Hotels Market Witnesses Increased Focus on Top-line Services, Opulent

Posted by Deeksha on March 11th, 2019

Luxury hotel industry has become an invaluable segment in the hospitality industry and is undergoing robust expansions. Luxury hotel market is a breed apart in various ways when it comes to lodging industry. These hotels offer guests opulent facilities and top-line services which are complex to operate, presenting a high degree of peril for owners and developers. Being among the most volatile in the industry, luxury hotels enjoy strong performance in good times and suffer considerably in phases of economic downturn. These actionable insights are according to the report titled, “Global Luxury Hotels Market to 2022: Market Data and Insights on the Global Luxury Hotels Industry,” which has been lately incorporated in the exhaustive repository of Market Research Hub (MRH).

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Forbes Travel Guide created a verified list of world’s most luxurious hotels at the end quarter of 2018, naming 58 hotels to the list—52 five-star hotels and six four-star hotels; spanning across 17 countries. The U.S. earned the coveted designation as the most number of hotels with 25, while China has eight hotels. Mexico, Indonesia and Italy have three each.

Travelers’ expectations have transitioned and the focus is on personalized, authentic experiences. The ethos has filtered into luxury travel segment and has compelled luxury hotels to rethink its strategy. The luxury hotels are focusing on scintillating interior design landscaping; and rooms with top-of-the-line bed linens and pillows, high quality robes and luxurious bath amenities. Besides, shift of luxury hotels form membership-based business models to concierge apps and luxury camping signify the trends shaping the future of luxury hotels market.

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 Luxury Hotels Market: Report Content

The report provides a meticulous analysis on luxury hotels market through quantitative and qualitative analysis. The report focuses on the dynamics of the market such as drivers, opportunities, trends and restraints to offer coherent assessment of luxury hotels. The report presents in-depth analysis on regions such as the U.S., Asia-Pacific, Middle East & Africa and Europe.

The final section provides actionable insights on the competitive scenario of the luxury hotels market, including a dashboard view, competition position index, market structure analysis, competition position index and mergers & acquisitions in the hotel industry. The final section provides insights on financial overview, company overview, industry portfolio, strategies and recent developments.

Luxury Hotels Market: Research Methodology

Trove of primary and secondary sources propels the report on luxury hotels market. Primary sources offer actionable insights through information received first-hand on aspects incorporating competitive landscape, market size, growth trends, and market size. As such, these facets have turned out to be invaluable in validating and bolstering finding from secondary research. The collated data are assessed and discerned meticulously by panel of expert.

Assessment of the trends in luxury hotels alluded that the researchers applied quantitative methods with the assistance of different statistical analysis techniques.