Turismo
Luxury Hotel Market to Reach $160.4 Bn, Globally, by 2031 at 5.1% CAGR: Allied Market Research
Growth in travel & tourism industry, growth in preference for leisure travel, and change in standard of living drive the growth of the global luxury hotel market. However, high price hinders the market growth. On the other hand, growing interest among people to experience new kind of adventure and entertainment presents new opportunities in the coming years.
Request Sample Report @https://www.alliedmarketresearch.com/request-sample/1916
Based on type, the business hotels segment held the highest market share in 2020, accounting for nearly one-third of the global luxury hotel market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.8% from 2022 to 2031. This is because the major portion of the world luxury hotel market by type is covered by business hotels followed by airport hotels.
Based on category, the chain segment accounted for the largest share in 2020, contributing to more than half of the global luxury hotel market, and is projected to maintain its lead position during the forecast period. This is owing to its wide availability of rooms, strong market penetration, and effective services at reasonable cost in the Asia-Pacific . However, the independent segment is expected to portray the largest CAGR of 5.7% from 2022 to 2031.
Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than one-third of the global luxury hotel market. Moreover, the Asia-Pacific region is expected towitness the fastest CAGR of 6.0% during the forecast period, owing to rapid development programs in the region.
For Purchase Enquiry @https://www.alliedmarketresearch.com/purchase-enquiry/1916
• Hotels Market Opportunity Analysis and Industry Forecast, 2021-2030
• Boutique Hotels Market Opportunity Analysis and Industry Forecast, 2022-2029
• Hospitality Furniture Market Opportunity Analysis and Industry Forecast, 2022-2029
• Hotel Uniforms Market Opportunity Analysis and Industry Forecast, 2022-2029
• Ready-To-Move-In Luxury Homes Market Opportunity Analysis and Industry Forecast, 2022-2029
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong : +852-301-84916
India ( Pune ): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg