Luxury Hotel Market Report, published by Allied Market Research, states that the global luxury hotel market was valued at $15,535 million in 2015, and is projected to reach $20,442 million by 2022, growing at a CAGR of 4.0% from 2016 to 2022. The business hotels segment accounted for around 42% of the total market revenue in 2015.
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Luxury hotels provide comfortable stay to tourist and travelers along with services such as spa, swimming pool, and fitness center. The market for luxury hotel has grown significantly in the past few years due to rise in the number of business travelers globally.
Change in customer preference and upgradation in the services provided by hoteliers further boost the demand for luxury stays.
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Category: Market Research Publishers and RetailersCompany about: Allied Market Research is a global 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 dom ...