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(USGovernment-News.Com, October 08, 2024 ) During 2022, the luxury hotel market was dominated by the North American region, holding a revenue share of over 35 percent, and is expected to maintain this dominance in the coming forecast period. In 2022, the US led the luxury hotel market in revenue due to its status as a global financial center and popular tourist destination worldwide.
During the forecast period, the APAC region is anticipated to experience the fastest rate of growth. The European market is becoming more popular because governments are providing incentives to promote tourism in their country and local areas by raising awareness of its historical significance. An important factor driving the European market to the north is the ironic history of countries such as the U.K., Spain, Italy, and France.
Maximize Market Research has also published the following reports:
Five Star Hotel Market was valued at USD 123.82 Bn. in 2023. Global Five Star Hotel Market size is expected to grow at a CAGR of 6.1 % through the forecast period.
The India Hotels Market size was valued at USD 32.10 Billion in 2023 and the total India Hotels revenue is expected to grow at a CAGR of 9.4% from 2024 to 2030, reaching nearly USD 59.44 Billion by 2030.
Floating Hotels Market size was valued at USD 4.98 Bn. in 2023 and the total Floating Hotels revenue is expected to grow at 6.5 % from 2024 to 2030, reaching nearly USD 7.74 Bn.
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