Driven by the healthy growth within luxury hotels in 2021 and 2022, experiential luxury in the US is expected to recover to the pre-pandemic (2019) level of sales in current value terms in 2023. Even with a high Average Daily Rate, the lack of international travellers and business travellers makes it difficult to see full recovery happening in luxury hotels in 2022.
Falling far behind luxury hotels, luxury foodservice is set to recover only slowly in 2022, and the process is expected to remain slow over the forecast period as multiple obstacles remain and emerge. Therefore, sales are not expected to reach the pre-pandemic level even by the end of the forecast period in 2027.
Loyalty programmes are not a new concept in luxury hotels, although with the loss of much business travel, luxury hotels adjusted their traditional loyalty programmes during the pandemic, and this is set to continue in the post-pandemic era due to the uncertainties and shifting consumer needs along with COVID-19. These programmes are critical in communicating with consumers, retaining consumers, as well as incentivising services (i.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is an aggregation of Luxury Hotels and Luxury Foodservice.See All of Our Definitions
This report originates from Passport, our Experiential Luxury research and analysis database.
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