Luxury hotels are the hotels that offers luxurious accommodations to their guests. The luxury hotels offers room with high quality furnishing, exclusive design interiors, and are equipped with flat-screen TV, coffee maker, and effective AC system. These luxury hotels also offer quality food services. Various types of luxury hotels include business hotels, airport hotels, suite hotels, resort & spa, and golf & ski hotels. Rising growth of the travel and tourism industry across the globe is expected to drive growth of the luxury hotels market over the forecast period (2019-2027).
Major companies operating in the global luxury hotels market include The Indian Hotels Company Limited, InterContinental Hotels Group plc, Rosewood Hotels & Resorts, Oberoi Hotels & Resorts, Naman Retreat, Jumeirah International LLC, Shangri-La International Hotel Management Ltd., Hyatt Hotels Corporation, Accor S.A, Hilton Hotels & Resorts, and Marriott International, Inc.
Large hotel chains are adopting various strategies such as expansions, and mergers & acquisitions, in order to maintain their competitive position in the global luxury hotel market. For instance, in Novermber 4, 2019, JW Marriott, a part of Marriott International, Inc., announced about the opening of JW Marriot Maldives resorts and spa in Vagaru Island, Maldives.
On the basis of hotel type, the global luxury hotels market is segmented into:
On the basis of operating channel, the global luxury hotels market is segmented into:
On the basis of region, the global luxury hotels market is segmented into:
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