Luxury Hotel Market Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions 2028
The global luxury hotel market size is projected to reach USD 238.49 billion by 2028, exhibiting a CAGR of 10.4% during the forecast period. Fortune Business Insights™ diagnoses this market in its report, titled “Luxury Hotel Market, 2021-2028”, which also states that the market value stood at USD 93.43 billion in 2020.
COVID-19 to Create Widespread Instability in the Hospitality Industry
The luxury hotel market growth is expected to shrink due to the COVID-19 pandemic, with a market registering an astonishing decline of 60.82% in 2020 and reaching a value of USD 119.55 billion in 2021. One main reason for this unprecedented downturn in the hospitality industry is the steep drop in tourist activities worldwide. As per the estimations released by the UN World Tourism Organization (UNWTO), export revenues from tourist arrivals fell by approximately USD 910 billion to 1.2 trillion in 2020, potentially shrinking the global GDP by 1.5% to 2.8%. Hotels, in particular, have been the hardest hit. For example, according to the American Hotel & Lodging Association (AHLA), 71% of hotels will not survive the next six months without federal assistance and 77% will have to lay-off workers. Luxury hotel chains, such as Le Meridien, have also resorted to cost-cutting, given the new travel bans and the possibility of movement restrictions. In sum, markets associated with the travel, tourism, and hospitality industry are set to enter a period of deep financial stress on account of the coronavirus.
Fortune Business Insights™ lists out all the luxury hotel market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Mandarin Oriental Hotel Group (Quarry Bay, Hong Kong)
- Accor SA (Issy-les-Moulineaux, France)
- Shangri-La Asia Limited (Quarry Bay, Hong Kong)
- Four Seasons Hotel Limited (Toronto, Canada)
- Hyatt Hotels Corporation (Chicago, U.S.)
- The Indian Hotels Company Limited (Mumbai, India)
- Kempinski Hotels S.A. (Geneva, Switzerland)
- Hilton Hotels & Resorts (McLean, U.S.)
- InterContinental Hotels Group plc (Denham, U.K.)
- Marriott International, Inc. (Maryland, U.S.)
Emergence of Eco-friendly Luxury Hotels to Accelerate the Market
The development of hotels guided by the principles of environmental sustainability has altered perceptions surrounding luxury accommodations. The increasing environmental consciousness among new-age travelers has redefined the dynamics hitherto governing the hospitality industry, leading to the construction of eco-friendly luxury hotel brands. For example, the Andaz Maui at Wailea Resort in Hawaii has been conceived to minimize waste and emissions. The resort features a solar water heater system and variable speed chillers, while in the in-room settings, the glassware is made from recycled materials along with automated temperature controls. Similarly, at the Saffire Freycinet in Tasmania, Australia, Modwood is used as a wood substitute, LED technology is extensively utilized to make the entire facility energy-efficient, and natural cycle airflow systems have also been installed. The growing popularity of such premium properties in exotic locations is set to accelerate the expansion of this market.
Highlights of the Report
This report offers a detailed analysis of the various market drivers and trends, along with a careful study of the various market restraints. Moreover, the report contains a comprehensive examination of the regional dynamics of the market, as well as an in-depth evaluation of the competitive landscape of the market. In addition to these factors, the report supplies an exhaustive assessment of all market segments.
Based on room type, the market has been divided into luxury, upper-upscale, and upscale. By category, the market has been segmented into chain and independent. On the basis of geography, this market has been segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
High Spending Capacity of Travelers to Fuel the Market in North America
Backed by a high spending potential of consumers, North America is anticipated to dominate the luxury hotel market share during the forecast period. A report by the US Travel Association showed that in 2019, domestic travelers spent USD 972 billion, of which roughly 25% was spent on lodging facilities. Furthermore, expenditures on hotels and resorts of both domestic and international travelers rose by 4.1% in 2019 from 2018 levels, as per the report, indicating a strong willingness to spend on vacations by consumers. The North America market size stood at USD 30.66 billion in 2020.
In Europe, the market will enjoy a period of sustained growth as the continent is home to some most attractive tourist places on the planet. The UNWTO, for instance, observed that Europe accounted for nearly half of all tourist arrivals globally in 2018. In Asia Pacific, on the other hand, the expanding upper-middle-class and middle-class populations are pulling international luxury hotel chains to establish their presence in countries such as India, China, and Indonesia.
Key Players to Tap Opportunities in Developing Markets
With the standard of living transforming in the emerging markets of Asia and Africa, luxury hotel brands are actively amplifying their presence and operations in these countries. Several hotel chains are coming up with new offers and creating unique economy segments and services to attract travelers and entrench their regional position.
- January 2021: Marriott International announced its plans of opening 100 new properties across Asia Pacific in 2021. The aim is to bring brands and exquisite experiences to travelers and guests in unexplored destinations in the region.
- March 2020: Luxe Collection opened its first branded property in New York City, the Luxe Life Hotel New York. To this will be added new 4- and 5-star hotels – Zeavola Resort (Thailand), Il Tornabuoni (Florence), Eurostars Magnificent Mile (Chicago), CoolRooms Atocha (Spain), and The Belmont (Dallas).
Browse Detailed Summary of Research Report:
The Power of Packaging: How Plastic Blister Packaging can boost sales and brand awareness
Plastic blister packaging has been around for decades and has become a popular choice for packaging a wide range of products. Blister packaging is made by forming a plastic sheet over a mold, which creates a cavity to hold the product securely in place. This type of packaging offers many benefits for both consumers and businesses. In this blog post, we will explore the power of plastic blister packaging and how it can boost sales and brand awareness for businesses.
Benefits of Blister Packaging for Consumer
First, let’s look at some of the benefits of blister packaging for consumers. One of the main advantages is that it allows customers to see the product they are purchasing. This is particularly important for items that are small or have intricate details. By being able to see the product through the packaging, customers can get a better idea of what they are buying, which can help them make a
more informed decision.
Another benefit of blister packaging is that it protects the product from damage during shipping and handling. The plastic sheet provides a barrier between the product and the outside world, which can prevent scratches, dents, and other forms of damage. This is especially important for fragile items like electronics or glassware.
Blister packaging is also easy to open, which is a big plus for consumers. The plastic is usually scored or perforated so that it can be easily torn open without the need for scissors or a knife. This makes the product more accessible and can enhance the user experience.
Now let’s look at how blister packaging can benefit businesses. One of the primary advantages is that it can help increase sales. When customers can see the product they are buying, they are more likely to make a purchase. This is especially true for products that are new or unfamiliar. By showcasing the product in a clear and attractive way, blister packaging can entice customers to buy.
Customized Blister Packaging can also help businesses stand out from the competition. With so many products on the market, it can be challenging to differentiate oneself from the competition. However, by using blister packaging, businesses can create a unique and eye-catching design that will catch the attention of customers. This can help increase brand awareness and attract new customers.
Another benefit of blister packaging is that it can reduce costs. Because the plastic sheet is relatively cheap, it can be an affordable option for businesses looking to package their products. Additionally, because blister packaging is lightweight, it can reduce shipping costs, which can help businesses save money in the long run.
When it comes to designing blister packaging, there are many options available. Businesses can choose from a wide range of colors, shapes, and sizes to create a design that fits their brand and product. Additionally, businesses can add graphics and text to the packaging to further enhance the design and communicate important information to customers.
One important consideration when designing blister packaging is the type of plastic used. There are many different types of plastics, each with their own strengths and weaknesses. For example, some plastics are more rigid and durable, while others are more flexible and lightweight. Choosing the right plastic can help ensure that the packaging is strong enough to protect the product while also being easy to open and handle.
Another consideration is the size and shape of the packaging. Blister packaging can be customized to fit a wide range of products, from small items like batteries or earbuds to larger products like toys or tools. By choosing the right size and shape, businesses can create packaging that fits their product perfectly, which can help enhance the overall customer experience.
Finally, businesses should consider the environmental impact of their packaging. While blister packaging can be an eco-friendly option, it is important to choose plastics that are recyclable and to minimize the amount of excess packaging material used. By making these choices, businesses can help reduce waste and minimize their environmental impact.
In addition to these considerations, businesses should also pay attention to the overall design of their blister packaging. The packaging should be visually appealing and communicate the benefits and features of the product clearly and effectively. Additionally, the packaging should be easy to open and handle, which can enhance the user experience and encourage customers to purchase the product again in the future.
Finally, blister packaging can also help businesses reduce waste. Because the plastic is typically recyclable, it can be a more eco-friendly option than other types of packaging. Additionally, because the plastic sheet is molded to fit the product precisely, it can reduce the need for excess packaging material, which can help reduce waste even further.
In conclusion, plastic blister packaging is a powerful tool that can help businesses increase sales and brand awareness. By providing a clear view of the product, protecting it from damage, and making it easy to open, blister packaging can enhance the customer experience and entice customers to make a purchase. Additionally, by creating a unique and eye-catching design, businesses can stand out from the competition and increase brand awareness. When designing blister packaging, businesses should consider factors such as the type of plastic used, the size and shape of the packaging, and the overall design and messaging. By making the right choices, businesses can create packaging that is both effective and efficient, helping them to succeed in a competitive marketplace.
The Race Is On: Type & Top Pick Of sport shoes For Girls In 2022
Sport shoes for girls are an essential piece of equipment for any athlete or fitness enthusiast. They provide the necessary support, cushioning, and stability to keep you comfortable and injury-free while you’re working out. Many different sport shoes for girls are available, each designed for specific activities and needs. In this blog, we’ll take a look at the different types of sport shoes for girls in 2022 and provide some top picks for each type.
1. Running Shoes
Running sport shoes for girls are designed specifically for running and jogging. They have a flexible sole and a cushioned midsole to absorb the impact of each footstrike. They also have a sturdy heel counter to provide stability and support. If you’re a runner, it’s important to choose a running shoe that fits well and provides the necessary support for your foot type and running style.
2. Cross-Training Shoes
Cross-training shoes are designed for a variety of activities, including running, jumping, and lifting weights. They have a flexible sole and a cushioned midsole, but they also have a sturdy heel counter and a wider base for added stability. If you’re someone who participates in a variety of workouts, cross-training best sport shoes for girls are a good choice.
3. Basketball Shoes
Basketball shoes are innovated to provide support and stability for players while they are on the court. They often have a thicker sole and a higher ankle collar to provide additional support. Take that winning dunk in style with basketball shoes that come in a range of colours and styles, so you can find a pair that matches your team’s colours or personal style.
4. Walking Shoes
Walking shoes help you to stay active and healthy every morning. They provide the needed comfort and support for everyday wear and long hours of usage. The main features of walking shoes that make them unique are a thicker soal made with breathable and flexible materials to ensure comfort. With a wide range of colours and styles to choose from, you can pick the perfect running shoes that match your outfit style while you head out.
5. Hiking Shoes
Hiking shoes are designed to provide support and protection for hikers. They have a thicker outsole and are often made with materials that are more breathable and flexible to ensure comfort during long hikes. Hiking shoes have grooves and patterns on the outsole to provide enough traction to move through difficult paths. Hiking shoes come in various colours and styles, so you can find a pair that matches your personal fashion and hiking style.
6. Tennis Shoes
Tennis shoes are designed for lateral movements and quick changes of direction that are common in tennis. They have a flat, stable outsole to provide good traction on the court, as well as a cushioned midsole for comfort and shock absorption. Look for shoes with good ventilation to keep your feet cool and dry during long matches.
7. Football Shoes
Football shoes are designed to provide ample traction and stability to move swiftly through the field. Football shoes are made with a thin and flexible sole which makes them more breathable and flexible to adapt to the intensities of the game. Choose from a wide range of football shoe colours and styles for that perfect match-winning goal!
Frequently Asked Questions
1. How to buy the best sport shoes for girls?
The key to buying the best sport shoes for girls comes down to a few basics.
- Choose the shoe that is tailor fitted for your sport
- Try out the shoe at the store preferably towards the end of the day when the feet are at their largest
- Carry your socks while you go to pick sports shoes
- Ensure that the fit is perfect
2. Which are the main three types of running shoes?
The main types of running shoes available in the market right now are road running shoes, trail-running shoes or cross-training shoes. There are multiple sub-division too in each which provides a wide range of options to choose from.
3. Can sport shoes for girls be used for daily use?
Sports shoes are designed to keep your foot safe from injuries even after use on a daily basis. They are the perfect shoes to carry along with your early morning runs or walks and are extremely durable. With a wide range of styles to choose from, they are versatile and make excellent outfit pairing options.
4. Can sport shoes be used for running?
Sport shoes for girls can also be used for running as they are designed with features designed to provide shock absorption and cushioning to the feet with every stride. Wearing sports shoes designed specifically for running can help reduce the risk of an injury which improves performance and longevity in the sport.
Sport shoes for girls play a major role in shaping the athlete in you. Pick sport shoes for girls that are specifically designed for the sport and ensure that the sports shoe fits you like a body part for the best performance on game day!
Entertainment Houston: Best Things to Do for Fun
If you’re looking to have some fun, there are plenty of different options of entertainment Houston to choose from. Here are some great things to do in Houston for entertainment and fun. Plus, this post includes great ideas for things to do in other major U.S cities like San Diego and Chicago, too! You won’t want to miss out on these great ideas.
The Museum District
Houston’s Museum District is located in the heart of downtown and features a diverse mix of museums, performance halls, gardens, and other attractions. It’s an outdoor museum that everyone can enjoy! The Hermann Park area includes The Houston Museum of Natural Science, Miller Outdoor Theatre and the NASA Kids’ Space Center. In addition, there are some excellent places to eat and drink nearby. Houston’s Chinatown is the largest in Texas and offers a unique experience with authentic Chinese culture. There are many shops, restaurants, theaters and places of worship that make it one of the most vibrant destinations in town. The Bayou City Art Festival is an annual event where artists showcase their work on a variety of mediums including painting, sculpture, photography or any other medium they choose.
Each year, we bring together more than 300 artists from all over the country. The festival has grown over the years as people have come to expect something different every time. -The Museum of Fine Arts (MFAH) houses more than 100,000 pieces spanning 5 millennia in history. You will find paintings by Picasso and van Gogh; sculptures by Rodin and Moore; Asian art by I-Xing; European textiles by Thomas Burberry; ancient American Indian artifacts by Edgar Latcham; contemporary art like Andy Warhol’s Campbell’s Soup Cans as well as films, theater productions and educational programs available for visitors of all ages.
Entertainment Houston: Discovery Green
Houston’s River Oaks Theater is not only one of the best theaters in town, but it’s also one of our favorite places for entertainment. They offer live performances all throughout the year as well as movies! The theater has been around since 1939 and was recently renovated with improved seating and better sight lines. The theater screens an array of films from classics like Casablanca and West Side Story to more recent blockbusters like Black Panther and Wonder Woman. If you are looking for something a little more unusual.
There are other features that might pique your interest such as the chance to see a film outside under the stars or watch a movie from your car on their drive-in screen! An outdoor cinema experience is always so much fun whether you’re watching La Land or The Lion King while eating dinner by candlelight or visiting their other attractions during opening hours such as their bar area with a full bar and food service. It really doesn’t matter what time of day you visit because they have something going on every single hour that will keep you entertained!
Entertainment Houston: The Galleria
There are plenty of activities in the Galleria area, but these are some of the most popular with locals. The Galleria mall is one of the largest in the US and includes tons of shops and restaurants as well as a movie theater. Rice Village is home to many upscale shopping spots, such as Neiman Marcus, Tiffany’s, and Louis Vuitton. Houston’s Chinatown is a great place for authentic Chinese food. It also has an oriental medicine shop that sells herbs used in traditional Eastern remedies.
One thing visitors might not know about Houston is that there’s a thriving art scene on display at more than 20 museums around town, including the Museum of Fine Arts, which houses one of the world’s finest collections of Impressionist paintings; the Menil Collection, with artwork by Marcel Duchamp, Jasper Johns, Roy Lichtenstein and others; and Rothko Chapel where minimalist artist Mark Rothko created his awe-inspiring stained glass masterpieces.
Houston’s Bayou Place is a mall that has everything you could need, including over 160 shops, restaurants, and entertainment venues. It’s a great place to spend the day with your friends or family. They have five different entertainment options. The first is the movie theater where they show new releases as well as some classics. The second option is bowling which I enjoy because it’s like a giant game of pool but with 10 pins instead of nine. You can also play billiards and ping pong if you’re feeling more competitive than just going for an easy strike. Finally, there are three amusement park rides: bumper cars, go karts, and a roller coaster. Entertainment houston is the perfect spot for spending time with friends and family.
In addition to shopping and dining at bayou place, there are plenty of entertainment options such as concerts, sporting events, comedy shows, arts festivals-the list goes on. One event in particular is celebrating its 30th year in 2017! RodeoHouston takes place in March at NRG Park and features world-class rodeo competition plus all kinds of livestock exhibits (moo!). There will be performances by music legends George Jones Jr., LeAnn Rimes , Luke Bryan , Willie Nelson, plus many other stars from around the globe.
Minute Maid Park
One of the best things to do in Houston is visit Minute Maid Park, home of the Astros. You can catch a game at one of their many events that are scheduled throughout the year. Kids and adults alike enjoy visiting this stadium because it has something for everyone. Plus, if you plan ahead, you can take advantage of any ticket deals that are being offered at the time. If you’re looking for an outdoor venue, be sure to check out Discovery Green. It’s full of activities like festivals and concerts all summer long.
The final thing I want to mention about entertainment houston is how much fun it would be to visit the Children’s Museum of Houston on Saturday mornings from 10am-noon. They offer various classes that range from science experiments to cooking lessons, so there’s definitely something here for all kids.
There is a lot of entertainment in Houston, and you don’t have to go far. There are many bars, clubs and lounges that offer live music on a nightly basis. If the weather permits, head over to the Avenida de las Americas area with your friends and family for some outdoor entertainment. You can also enjoy some local bands at Market Square Park. The Bayou City offers something for everyone when it comes to entertainment.
From stand up comedy to theater productions, there’s plenty to do. The Theater District is home to several venues including the Hobby Center and Alley Theatre where musicals such as Wicked were performed as well as A Streetcar Named Desire by Tennessee Williams. Other notable venues include Miller Outdoor Theatre, Jones Hall and Wortham Theater Center.
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