Global Luxury Hotel Market to Grow at 3.61% During 2025-2033, Bolstered by Growth of Tourism and Hospitality Industries

November 12, 2024 | Retail

The latest report by IMARC Group, titled “Luxury Hotel Market Report by Type (Business Hotels, Airport Hotels, Suite Hotels, Resorts, and Others), Room Type (Luxury, Upper-Upscale, Upscale), Category (Chain, Independent), and Region 2025-2033,” finds that the global luxury hotel market reached a value of USD 114.2 Billion in 2024. A luxury hotel is a lavish accommodation that houses high-paying guests. It provides high-quality services and dining experience, along with other amenities such as swimming pools, barbeque, spa, gym, and bar. These services can be tailor-made as per the requirements and desires of the customers. Luxury hotels deem themselves as four- or five-star hotels and include boutique hotels, resorts, and bed and breakfasts (B&B). In recent years, luxury hotels have gained immense popularity as they offer fast, convenient, and discrete check-in and check-out, smart planning and booking processes, babysitting, and concierge services to customers. They are also equipped with state-of-the-art technologies, which enhance the experience of travelers, tourists, and guests.

Global Luxury Hotel Market Trends: 

The market is primarily driven by the growth of the tourism and hospitality industries. Rapid urbanization and improving living standards of individuals are also increasingly influencing the market growth. Nowadays, various sporting and entertainment events are hosted across various countries. Due to this, several sporting teams, performers, and spectators traveling from different destinations avail luxury accommodations for stays and services, propelling the demand for luxury hotels. Besides this, the coronavirus disease (COVID-19) pandemic has increased the preference for staycations and weekend trips in luxury hotels for remote working. In addition to this, the rising disposable income levels, coupled with the popularizing weekend culture, especially among the working population and the introduction of low-cost airline services, are facilitating the market growth. Furthermore, key players are extensively investing in upgrading the infrastructure to enhance the aesthetics and overall comfort of the customers. Looking forward, the market value is projected to reach USD 157.7 Billion by 2033, expanding at a CAGR of 3.61% during 2025-2033.

Market Summary: 

  • Based on the type, the market has been segmented into business hotels, airport hotels, suite hotels, resorts, and others.
  • On the basis of the room type, the market has been classified into luxury, upper-upscale, and upscale.
  • The market has been segregated based on the category into chain and independent.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Accor SA, Belmond Limited (LVMH Moët Hennessy Louis Vuitton), Four Seasons Hotels Limited, Hyatt Hotels Corporation, InterContinental Hotels Group plc, ITC Limited, Jumeirah International LLC, Mandarin Oriental Hotel Group Limited, Marriott International Inc, Rosewood Hotels and Resorts LLC. (Rosewood Hotel Group), Shangri-La International Hotel Management Ltd., and The Indian Hotels Company Limited.


Report Coverage:

Report Features Details
Base Year of the Analysis 2024
Historical Period 2019-2024
Forecast Period 2025-2033
Units Billion USD
Segment Coverage Type, Room Type, Category, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Accor, Belmond Ltd. (LVMH Moët Hennessy Louis Vuitton), Four Seasons Hotels Limited, Hyatt Hotels Corporation, InterContinental Hotels Group plc, ITC Limited, Jumeirah International LLC, Mandarin Oriental Hotel Group Limited, Marriott International Inc, Rosewood Hotels and Resorts L.L.C. (Rosewood Hotel Group), Shangri-La International Hotel Management Ltd. and The Indian Hotels Company Limited
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Luxury Hotel Market to Grow at 3.61% During 2025-2033, Bolstered by Growth of Tourism and Hospitality Industries
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