The global luxury hotels market registered strong growth in 2014, thanks to the expanding travel and tourism sector, rise in ultra-high-net-worth individuals (grew by more than 5,000 in 2014) and the growing preference of travelers for luxury. In 2014, the Americas retained the top position as the largest market for luxury hotels closely trailed by Asia-Pacific. About 5,200 new high-end hotels are expected to open in 2016.
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The US is the leader in the luxury hotels market in terms of both revenues (US$46.6 billion in 2014 equivalent to 27% share) and number of rooms available (303,320). Japan topped the list in terms of occupancy rate (90.9% in 2014) while Hong Kong recorded the highest average (room) revenue per available room (RevPAR) with a value of US$354 in 2014.
Mexico recorded the highest number of guests in 2014 (29.2 million) while the UK recorded the fastest growth during the historic period (2010-2014). France was the fastest growing market in terms of rooms available and revenues.
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Belgium was the fastest growing market during the historic period in terms of RevPAR
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Luxury hotels in New York are going a step ahead to please guests. Several hotels are partnering with leading retailers in the city to provide insider shopping experiences for their guests.
For instance, The Mark hotel collaborated with Bergdorf Goodman. Other examples include The Quin in Midtown, WestHouse in Midtown, and The St.
Regis Washington, D.C
Shanghai is a leading MICE destination in China, backed by infrastructure and the presence of historical and cultural attractions. At present, luxury hotels in the city generate 13% of their revenues from MICE events.
With Chinese economic growth slowing, there has been a decrease in demand from financial institutions. However, this negative impact is leveled by the rise in demand from automotive, pharma, and luxury retail brands.
Key international markets for MICE include the USA, South Korea, Japan, Germany, France, and the UK
2015 was a bad year for Paris, one of the key markets for luxury hotels globally. The terrorist attacks in January and November scared foreign tourists.
The latest attack in particular is expected to show substantial negative impact as December is a prime season for holiday for many people globally
Report - The Global Luxury Hotels Market To 2019 - provides detailed information on global luxury hotels industry, analyzing market data and providing insights.
What else does this report offer
Historic and forecast revenue of global luxury hotels market covering 40 countries
Detailed analysis, region-wise (Americas, Asia-Pacific, Europe, Middle East and Africa),of luxury hotels' key performance indicators such as the number of hotel establishments, number of rooms, occupancy rate, room nights available, room nights occupied, average room revenue per available room, average room revenue per occupied room, average total revenue per available room, total room revenues, total non-room revenues, total revenues, and number of guests for the historic (2010-2014) and forecast periods (2015-2019)
Brief analysis of global luxury hotels market and the present scenario
Detailed analysis of the markets trends in key luxury hotels' markets
Make strategic business decisions using historic and forecast market data related to global luxury hotels industry
Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
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