The Global Luxury Hotels Market to 2018

The Global Luxury Hotels Market to 2018

  • Submitted By: hollyd026
  • Date Submitted: 04/07/2015 1:12 AM
  • Category: Business
  • Words: 676
  • Page: 3
  • Views: 1


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.

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Key Findings

According to the Travel and Tourism Intelligence Center's (Travel and Tourism IC) 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.

Russia and Turkey were the two largest luxury hotel markets in Europe in terms of total revenue in 2013. The...

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