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Country Report

Luxury Hotels (5-star plus) in

Luxury Hotels in the US

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

Domestic and international travel restrictions decimate occupancy rates

Luxury hotels recorded a dramatic decline in retail value sales in 2020, as international travel bans and stay-at-home orders meant to curb the spread of COVID-19 led international and domestic consumers alike to cancel vacations and business trips throughout the year. As a result of having significantly decreased occupancy, many luxury hotels across the US closed their doors and ceased operations during lockdowns lasting from mid-March until May or June in many states, despite the fact that many were still legally able to operate.

Luxury hotels court domestic consumers as foreign travellers are banned

With the US government banning the entry of foreign nationals from China beginning in January 2020, from Europe in March 2020 and from Brazil in May 2020, among others, the number of foreign nationals, who represent key drivers of luxury hotels sales, staying in luxury hotels throughout the year, dropped dramatically. While domestic consumers typically represent around 55% of total luxury hotels sales, this number increased to 65% in 2020 as many foreign travellers were unable to visit the US.

Health and wellness becomes increasingly important among travellers

While international and domestic travel restrictions prevented many consumers from visiting luxury hotels in 2020, leading hotels found opportunities to attract those who were still willing and able to travel by marketing vacations and daycations, or single day stays, as solutions for health and wellness-minded consumers looking to relax and rejuvenate amid the stresses caused by the pandemic. By adding a plethora of offerings including socially distant fitness options, touchless healthy menus, additional spa treatments and opportunities for digital detoxes, luxury hotels in both rural and urban areas of the US found opportunities to serve the changing needs of affluent domestic consumers, especially as their typical travel choices were unavailable.

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Overview

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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 USA 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 USA, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Hotels (5-star plus) in USA 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 USA?
What are the major brands in USA?
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 the US - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Domestic and international travel restrictions decimate occupancy rates

Luxury hotels court domestic consumers as foreign travellers are banned

Health and wellness becomes increasingly important among travellers

RECOVERY AND OPPORTUNITIES

Recovery expected as pandemic subsides

Short-term home rentals will increasingly divert consumers from luxury hotels

Increasing concern for environmentally-friendly practices will remain

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 the US - 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 the US

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Domestic and international travel restrictions decimate occupancy rates

Luxury hotels court domestic consumers as foreign travellers are banned

Health and wellness becomes increasingly important among travellers

Overview

Why buy this report?

SAMPLES

Delivery

Overview

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Table of Contents

Luxury Hotels in the US - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Domestic and international travel restrictions decimate occupancy rates

Luxury hotels court domestic consumers as foreign travellers are banned

Health and wellness becomes increasingly important among travellers

RECOVERY AND OPPORTUNITIES

Recovery expected as pandemic subsides

Short-term home rentals will increasingly divert consumers from luxury hotels

Increasing concern for environmentally-friendly practices will remain

CATEGORY DATA

Luxury Goods in the US - 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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