Europe Luxury Hotel Market Growth, Size, Trends, Revenue, Share, Demand and Future Outlook
Europe Luxury Hotel Market Size- By Product Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2023 | Report ID: FMCG23154 | Pages: 1 - 154 | Formats*: |
| Category : Consumer & Retail | |||
Europe Luxury Hotel Market Introduction and Overview
According to SPER Market Research, the Europe Luxury Hotel Market is estimated to reach USD 30.94 billion by 2033 with a CAGR of 7.06%.
The report includes an in-depth analysis of the Europe Luxury Hotel Market, including market size and trends, product mix, distribution channels, and supplier analysis. Luxury hotels offer luxurious accommodations as well as a variety of other services such as swimming pools (warm and fresh water), barbeques, spas, gyms, bars, and other tailor-made services based on the desires and comfort of customers. To differentiate themselves from the competition, several such hotels offer a private garden or beach area, as well as personal sunbeds. Rise in the travel and tourism industry, increase in leisure travel preference, and change in standard of living have resulted in progressive luxury hotel market trends.
- December 2022: As part of their ongoing collaboration with Katara Hospitality, IHG Hotels & Resorts (IHG), one of the top chains of upscale hotels in Europe, announced the Carlton Cannes's addition to their portfolio of Regent Hotels & Resorts. Anticipated to debut in spring 2023, the hotel will serve as a flagship establishment for the upcoming Regent Hotels and Resorts brand, which is part of IHG's Luxury and Lifestyle Collection.
- In February 2022, a new spa and resort will open on the Greek island of Zakynthos, according to The Lesante Collection, a renowned operator of luxury hotels and resorts. The Lesante Cape hotel has 10 villas with private beach access for each of its 55 guest suites.
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Market Opportunities and Challenges
Opportunities: Europe Luxury Hotel Market has various opportunities. Holidays, leisure travel, and other types of travel are growing in popularity along with the overall number of travelers. Nearly 50% of foreign visitors arrive with the intention of relaxing. Leisure travel is primarily influenced by living standards. People are more likely to travel for leisure as a result of rising living standards, which is predicted to increase demand for luxury hotels.
A primary factor drawing guests to opulent resorts is their increasing disposable income and standard of living. The hosting of athletic events in a city or country is a significant factor driving the demand for luxury accommodations. Sports teams and fans who are traveling from different locations often make reservations at upscale hotels.
Challenges: The rising costs of staying in hotels with higher star ratings and the rise of low-cost shared accommodation platforms like Airbnb in low-income nations are going to hinder the growth of the market. Further limiting market expansion would be the increasing ubiquity of low-cost and mid-range hotels in numerous countries across the region.
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Market Competitive Landscape
The study includes significant global firms that are active in the European luxury hotel market. But because of technological advancements and product innovations, mid-sized and smaller companies are growing their market share by winning new contracts and entering new markets. Big names like Accor, Best Western, Intercontinental Hotels & Resorts, Belmond, Marriott International Inc., and others are well-represented in the European luxury hotel market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type |
| Regions covered | Central Region, Southern Region, Northern Region |
| Companies Covered | Accor, Best Western, Carlson-Rezidor, Groupe Du Louvre, Hilton Worldwide, Hyatt Corporation, Intercontinental Hotels & Resorts, Marriott International Inc., Melia International, NH Hotels, Others |
COVID-19 Impact on Europe Luxury Hotel Market
While travel both domestically and internationally was temporarily halted due to the COVID-19 pandemic, there may be long-term consequences. In addition to the challenges associated with operating a business during a crisis, such as having to halt operations during COVID-19 lockdowns, having issues with the operating model, service levels, and processes, and having limited cash flows, COVID-19 was predicted to intensify and accelerate long-term trends in the tourism and hospitality industries, such as shifting consumer preferences, personalization, digital transformation, and sustainability.
Key Target Audience
- Luxury Travelers
- Business Executives
- High-Net-Worth Individuals (HNWIs)
- Tourists and Vacationers
- Event Planners
- Travel Agencies and Tour Operators
- Corporate Event Planners
Our in-depth analysis of the Europe Luxury Hotel Market includes the following segments:
| By Product Type: |
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| By Region: |
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Key Topics Covered in the Report
- Europe Luxury Hotel Market Size (FY’2023-FY’2033)
- Overview of Europe Luxury Hotel Market
- Segmentation of Europe Luxury Hotel Market By Product Type (Business Hotel, Airport Hotel, Holiday Hotels, Resorts & Spa)
- Statistical Snap of Europe Luxury Hotel Market
- Expansion Analysis of Europe Luxury Hotel Market
- Problems and Obstacles in Europe Luxury Hotel Market
- Competitive Landscape in the Europe Luxury Hotel Market
- Impact of COVID-19 and Demonetization on Europe Luxury Hotel Market
- Details on Current Investment in Europe Luxury Hotel Market
- Competitive Analysis of Europe Luxury Hotel Market
- Prominent Players in the Europe Luxury Hotel Market
- SWOT Analysis of Europe Luxury Hotel Market
- Europe Luxury Hotel Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Luxury Hotel Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Luxury Hotel Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Luxury Hotel Market
7. Europe Luxury Hotel Market, By Product Type (USD Million)
7.1. Europe Luxury Hotel Market Value Share and Forecast, By Product Type, 2023-20337.2. Business Hotel7.3. Airport Hotel7.4. Holiday Hotels7.5. Resorts & Spa
8. Europe Luxury Hotel Market Forecast, 2019-2033 (USD Million)
8.1. Europe Luxury Hotel Market Size and Market Share
9. Europe Luxury Hotel Market, By Product Type, 2019-2033 (USD Million)
9.1. Europe Luxury Hotel Market Size and Market Share By Product Type (2019-2026)9.2. Europe Luxury Hotel Market Size and Market Share By Product Type (2027-2033)
10. Europe Luxury Hotel Market, By Region, 2019-2033 (USD Million)
10.1. Europe Luxury Hotel Market Size and Market Share By Region (2019-2026)10.2. Europe Luxury Hotel Market Size and Market Share By Region (2027-2033)10.3. Italy10.4. Germany10.5. Spain10.6. France10.7. Switzerland10.8. UK10.9. Others
11. Company Profile
11.1. Accor
11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments
11.2. Best Western
11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments
11.3. Carlson-Rezidor
11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments
11.4. Groupe Du Louvre
11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments
11.5. Hilton Worldwide
11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments
11.6. Hyatt Corporation
11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments
11.7. Intercontinental Hotels & Resorts
11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments
11.8. Marriott International Inc.
11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments
11.9. Melia International
11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments
11.10. NH Hotels
11.10.1. Company details11.10.2. Financial outlook11.10.3. Product summary11.10.4. Recent developments
11.11. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Luxury Hotel Market is projected to reach USD 30.94 billion by 2033, growing at a CAGR of 7.6% during the forecast period.
Europe Luxury Hotel Market grew in market size from 2022. The Market is expected to reach USD 30.94 billion by 2033, at a CAGR of 7.6% during the forecast period.
Europe Luxury Hotel Market CAGR of 7.6% during the forecast period.
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Europe Luxury Hotel Market size is USD 30.94 billion from 2023 to 2033.
Europe Luxury Hotel Market Segment is covered By Product Type.
The Europe is anticipated to have the highest market share in the Europe Luxury Hotel Market.
The key players in the market include Companies Covered Accor, Best Western, Carlson-Rezidor, Groupe Du Louvre, Hilton Worldwide, Hyatt Corporation, Intercontinental Hotels & Resorts, Marriott International Inc., Melia International, NH Hotels, Others.
Luxury hotels offer luxurious accommodations as well as a variety of other services such as swimming pools (warm and fresh water), barbeques, spas, gyms, bars, and other tailor-made services based on the desires and comfort of customers.
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