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Luxury Hotel Market Share

Report ID: GMI7446
Published Date: Nov 2023
Report Format: PDF

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Luxury Hotel Market Share

Major players operating in the luxury hotel industry are:

AccorHotels
Four Seasons Hotels and Resorts
Hilton Worldwide Holdings Inc.
Hyatt Hotels Corporation
InterContinental Hotels Group (IHG)
Jumeirah Hotels and Resorts
Marriott International
St. Regis Hotels & Resorts
The Ritz-Carlton Hotel Company
Waldorf Astoria Hotels & Resorts (Hilton)

Marriott and Hilton are prominent players in the luxury hotel industry due to their global portfolios, brand recognition, and commitment to exceptional service. These hospitality giants offer a diverse range of upscale properties, each catering to distinct luxury traveler preferences. Their loyalty programs, consistent quality, and strategic acquisitions further solidify their positions as leading contributors to the luxury hotel sector.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of luxury hotel was worth USD 99.2 billion in 2022 and is predicted to register over 7% CAGR between 2023 and 2032, owing to the growth in tourism with surge in accommodations, amenities, and experiences.

The business luxury hotels market is expected to grow at a CAGR of over 8% through 2032. As corporate travel rises, executives and professionals seek accommodations that blend sophistication with functionality.

North America held around 38% share of the luxury hotel industry in 2022 and is estimated to register significant growth through 2032, due to a resurgence in travel and an improving economy post COVID.

AccorHotels, Four Seasons Hotels and Resorts, Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, InterContinental Hotels Group (IHG), Jumeirah Hotels and Resorts, Marriott International, St. Regis Hotels & Resorts, The Ritz-Carlton Hotel Company, and Waldorf Astoria Hotels & Resorts (Hilton).