(MENAFNEditorial)
FOR IMMEDIATE RELEASE Illinois – United States – December 042014 (PR Buzz): The Global Luxury Hotels Market to 2018 is a new market research publication announced by Reportstack. The global luxury hotels market's performance has recovered from the slowdown recorded at the beginning of the historic period (2009-2013) due to the financial crisis and recession. Overall growth was recorded in the four markets - Americas Asia-Pacific Europe Middle East and Africa - across all key performance indicators (KPIs) during the historic period. Growth is expected to continue over the forecast period (2014-2018) supported by the rise in tourism flows and expenditure.
Key Findings
- According to the analysis based on 40 countries around the world the US was the leader in the luxury hotel market in terms of both revenue and number of establishments. The US recorded revenue of US$43.9 billion in 2013 which is more than double its closest competitor China which recorded US$20.6 billion in revenue in 2013
- Growth in the Travel and Tourism sector in Asia-Pacific has proved beneficial for the luxury hotel market. Rising middle class population and economic growth have supported the increase in tourist volume and expenditure consequently leading to rising demand for accommodation. International hoteliers such as InterContinental Hotels Starwood Hilton Marriott and Accor cater to the luxury segment in the region. Domestic hotel operators mostly focus on the budget and mid-scale segment
- In the Middle East and Africa a large number of deals were recorded in South Africa and the UAE. Political unrest and violence in countries such as Egypt Tunisia and Morocco has kept investors away. A total of 13 luxury hotel deals we completed in the UAE during the period between 2010 and 2014 (September) while five were recorded in South Africa during the same period
- A large number of leading global luxury hotel chains is based in the US such as Starwood Hotels and Resorts Marriott International and Wyndham Group. According to TTIC analysis based on 40 countries around the world the US was the leader in terms of number of luxury establishments with a total of 1017 luxury hotels in 2013. Cities in the US are among the leading and fastest-growing tourism destinations which fuels the demand for luxury accommodation. For example according the MasterCard Global Destination Cities Index 2014 New York was the sixth most visited city in the world with an estimated 11.8 million visitors in 2014
- The luxury hotel market in Asia-Pacific recorded growth during the historic period. China was the largest market in terms of total revenue in 2013 followed by Japan which was the leader in terms of number of guests at luxury establishments. Hong Kong recorded the highest revenue per available luxury room and was also the leader in terms of occupancy rate in 2013
- Russia and Turkey were the two largest luxury hotel markets in Europe in terms of total revenue in 2013. The UK Italy and France are also among the leading destinations. During the historic period the French luxury hotel market was the fastest-growing in terms of revenue while Turkey recorded the fastest growth in terms of number of guests. France also recorded the highest growth in number of luxury hotels during the historic period. The UK led in terms of occupancy rate
- Variations in performance were recorded in the luxury hotel market in countries in the Middle East and Africa. The Arab Spring revolution led to political instability unrest and violence in many countries particularly Egypt. The Travel and Tourism sector in these countries suffered with significant decline recorded in international arrivals consequently having a negative impact on demand for accommodation. On the other hand the popularity of countries such as the UAE as leading tourist destinations in the Middle East increased.
Synopsis
""The report provides detailed market analysis information and insights including:
- 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 and forecast periods
- Brief analysis of global luxury hotels market and the present scenario
- Detailed analysis of the market trends in key luxury hotels' markets
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to the global luxury hotels market
- Understand the key market trends and growth opportunities in the global luxury hotels market
- Gain strategic insights on the leading global luxury hotels"
Companies Mentioned
"InterContinental Hotels Group Plc Shangri-La Asia Ltd Starwood Hotels and Resorts Worldwide Inc. Marriott International Inc. Accor SA Anantara Hotels Resorts and Spas Rezidor Hotel Group Four Seasons Hotels and Resorts
Rotana Hotel Management Corporation PJSC Banyan Tree Holdings Limited"
Complete report available @ The Global Luxury Hotels Market to 2018.
Contact:
Debora White
United States
Email: debora@reportstack.com
Ph: +1-888-789-6604
Reportstack
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