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Business hotels are leading the market for global luxury hotels

Luxury hotel industry is one of the world’s leading customer service industries. Currently the development of tourism is an important factor in the development of the luxury hotel industry. In order to meet the growing customer demand, luxury hotels are constantly working to improve their services by focused on improving consumer preferences.
With the development of science and technology and improving of people’s living standards, more and more people go around the world to travel, such as Asia-Pacific, North America, Europe and rest of the world, these areas direct boost to the local market growth of luxury hotel.
Currently luxury hotels can be divided into Business Hotels, Suite Hotels, Airport Hotels, Resorts and Others (include casino hotels, extended stay hotels, service apartments, and conference and convention centers).

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Currently luxury hotels can be divided into Business Hotels, Suite Hotels, Airport Hotels, Resorts and Others (include casino hotels, extended stay hotels, service apartments, and conference and convention centers).
Global Luxury Hotels Market Share Analysis, by Type, 2015

As can be seen from the chart, business Hotels occupied the largest market share of the luxury hotel in 2015, and will continue within the expectations, this is because that some of the major factors in the rapid industrialization and a growing number of multinational companies greatly increase the demand for business hotels, followed by Airport hotels. In addition, the resort is the most potential market in the future.
The global luxury hotels market reached USD 155.3 billion in 2015, and is projected to grow at a CAGR of 4.5% from 2016 to 2020, and will reach over USD 193.0 billion by 2020. In the terms of region, North America accounted for the major market of luxury hotels in 2015, and will continue to remain within the anticipation, and there will be a considerable increase in a period, this growth will be attributed to the booming tourism industry, as well as dramatic changes in lifestyle.
Luxury hotels have great profit margins, therefore, many people continue to develop the hotel business. Some of the key luxury hotels players in the world include Four Seasons Holdings Inc. (Canada), InterContinental Hotels Group PLC (U.K.), Starwood Hotels & Resorts (U.S.), Marriott International, Inc (U.S.), Jumeirah International LLC (UAE), Kerzner International Resorts, Inc. (U.S.), The Indian Hotels Company Limited (India), Mandarin Oriental International Limited (Hong Kong), ITC Hotels Limited (India), Shangri-La International Hotel Management Ltd. (Hong Kong).
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Joanna | Executive – International Business and partner Relations
E-mail: [email protected] | Tel: 1-510-400-8520
Web: www.gosreports.com
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Joanna | Executive - International Business and partner Relations
E-mail: [email protected] 
Tel: 001-510-400-8520
Web: www.gosreports.com