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Country Report

Luxury Hotels (5-star plus) in

Luxury Hotels in South Korea

Jan 2021

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2020 IMPACT

Luxury hotels reach new consumers

There were no hotel closures during the COVID-19 outbreak. From late August, which saw a surge in cases following the 3-day holiday over 15-17 of that month, hotel buffets were included as one of the places where people were considered particularly at risk of contracting COVID-19.

Hotels benefit from cancellation of events

Many local festivals were cancelled due to COVID-19 and overseas trips were not an option. Dinosaur Expo was cancelled, and the Firework festival cancelled, along with many others.

Players use TV homeshopping to promote their offer

Hotels were using TV homeshopping as a means to achieve higher reservation rates. With such efforts and with local demand for vacations within the country, the reservation rate increased in most cities.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Hotels (5-star plus) industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Hotels (5-star plus) industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Hotels (5-star plus) in South Korea market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Hotels (5-star plus) in South Korea?
What are the major brands in South Korea?
What is the rate of development for chained hotels vs independent hotels?
How are luxury hotels performing compared to mid-priced and budget hotels?
Is there an increase in hostels and campsites?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Travel and Tourism market research database

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Luxury Hotels in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Luxury hotels reach new consumers

Hotels benefit from cancellation of events

Players use TV homeshopping to promote their offer

RECOVERY AND OPPORTUNITIES

Local consumers likely to remain important target group

Alternative accommodation types represent a threat to luxury hotels

Advertising and promotion likely to evolve

CATEGORY DATA

Table 1 Sales in Luxury Hotels: Value 2015-2020
Table 2 Sales in Luxury Hotels: % Value Growth 2015-2020
Table 3 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020
Table 4 NBO Company Shares in Luxury Hotels: % Value 2015-2019
Table 5 LBN Brand Shares in Luxury Hotels: % Value 2016-2019
Table 6 Forecast Sales in Luxury Hotels: Value 2020-2025
Table 7 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2015-2020
Table 10 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 12 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 13 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 15 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

Megatrends

Country Report

Luxury Hotels in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Luxury hotels reach new consumers

Hotels benefit from cancellation of events

Players use TV homeshopping to promote their offer

Overview

Why buy this report?

SAMPLES

Delivery

Overview

Want to find out more about this report?

Table of Contents

Luxury Hotels in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Luxury hotels reach new consumers

Hotels benefit from cancellation of events

Players use TV homeshopping to promote their offer

RECOVERY AND OPPORTUNITIES

Local consumers likely to remain important target group

Alternative accommodation types represent a threat to luxury hotels

Advertising and promotion likely to evolve

CATEGORY DATA

Luxury Goods in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

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