The five-star hotel market was valued at $116.71 billion. in 2022. The global five-star hotel market size is expected to grow at a CAGR of 6.1 % during the forecast period.
Overview of the five-star hotel market:
The purpose of this report is to provide a thorough examination of The five-star hotel market by segments and geographies. The study goes into great detail on the key factors influencing the growth of the five-star hotel market. The study also provides a comprehensive analysis of the market value chain.
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Market scope of five-star hotels:
“Global Five Star Hotels Market Analysis” is a detailed investigation of the Five Star Hotels market with a focus on global market trends and analysis. The purpose of this research is to provide an overview of the five star hotel market as well as detailed market segmentation by application, end use and geography. The five-star hotel market is expected to develop significantly during the forecast period. The study contains critical information on the market positions of the leading Five Star Hotels players, as well as important industry trends and opportunities.
The research method used to estimate and forecast the five-star hotel market begins with secondary research using sources that collect revenue data from key suppliers. When calculating the market segment rating, the sellers’ offers are also taken into account. Using the bottom-up approach, the entire market size of five-star hotels was calculated using the revenue of significant enterprises.
Segmentation of the five-star hotel market:
by type
Business hotels
Airport Hotels
Suite hotels
Resorts
The five-star hotel market is divided into four categories by type: business hotels, airport hotels, suite hotels and resorts. Accounting for 33% of the global luxury hotel market in 2022, the business hotel segment holds the largest market share and is projected to continue to lead throughout the forecast period. Furthermore, a maximum CAGR of 6% is projected for the business hotel market between 2022 and 2029. This is because business hotels, followed by airport hotels, account for the largest share of the global luxury hotel market by type.
by category
STRAND
Individual
Chain hotels and independent hotels are two categories that make up the five-star hotel market. In 2022, the chain sector contributed more than half of the global market for five-star hotels. This segment is expected to continue to hold the largest market share during the forecast period. This is a result of the Asia-Pacific region’s access to large rooms, significant market penetration and affordable service. However, from 2023 to 2029, the standalone segment is projected to have the highest CAGR of 6.5%.
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Key players of the five-star hotel market:
Key Players Covered in Five Star Hotels Market Report are
1. Accor SA
2. Belmond Ltd
3. Four seasons hotel
4. Hyatt Hotels Corporation
5. InterContinental Hotels Group
6. Limited ITC
7. Jumeirah International LLC
8. Mandarin Oriental Hotels
9. Marriott International Inc
10. Rosewood Hotels & Resorts LLC
11. Shangri-La Int. Hotel Ltd
12. Kempinski Hotels SA
13. Hilton Hotels & Resorts
14. The Indian Hotels Company Ltd
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Regional analysis of the five-star hotel market:
Global, North America, Europe, Asia-Pacific, Middle East, Africa and South America market share statistics are accessible individually. Analysts at Maximize assess competitive strengths and conduct competitive analysis for each competitor individually.
Analysis of the impact of COVID-19 on the five-star hotel market:
Aerospace and defense, agriculture, automotive, retail and e-commerce, power and energy, healthcare, packaging, mining, electronics, banking, financial services and insurance, among other industries, have all been affected by the outbreak of the COVID- 19. COVID-19 has had an impact on the five-star hotel market overall, as well as the growth rate in 2019-2020, as the impact of COVID-19 spread. Our latest market research, opinions and insight pieces are critical to businesses and associations in the five star hotel industry,
The key questions answered in the Five Star Hotels Market Report are:
- Which segment grabbed the largest share in the five-star hotel market?
- What was the competitive scenario of the five-star hotel market in 2021?
- What are the key factors responsible for the growth of the Five Star Hotels market?
- Which region held the largest share of the five-star hotel market in 2021?
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