Luxury Hotels (5-star plus) in
Country Report
Executive Summary
Feb 2019PROSPECTS
Retail value and volume to register growth over the forecast period
Luxury hotels maintained steady current value growth in 2018; a trend which is expected to continue into the forecast period. Consumer demand in the US remained strong, fuelled by the positive economic outlook for the country.
The growth of “bleisure” gives hotels an opportunity to grow their revenues
The business world is ever-evolving, and with it, the way Americans travel professionally. Increased connectivity, coupled with more flexible working hours, have blurred the distinction between professional and personal lives.
“Smart” guest rooms are the future
Luxury hotels are progressively using technology in ways that go beyond online booking and mobile apps. For example, several hospitality giants, including Marriott International and Hilton, are working to create “smart” guest rooms that seamlessly integrate technology into the guest experience.
COMPETITIVE LANDSCAPE
Airbnb moves further into the luxury space
Since its launch in 2008, the economy sharing app Airbnb has been growing in popularity, and as a competitor for the hotel industry. Luxury hotels may face even more competition in future years, as Airbnb is set to launch two new luxury tiers of its product, offering customers the most upscale homes and customised experiences.
Steering away from a formulaic approach
Personalisation is especially important to millennials, who are quickly redefining what “luxury” means. Millennials are more inclined to spend their money on interesting experiences, placing emphasis on indulging in local activities, cuisines and culture.
Investment in wellness sets brands apart
Healthy living has been and continues to be a growing concern for US consumers, and leading players in luxury hotels are keen to incorporate this trend into their portfolios. Hyatt Hotels Corporation made a leap into the wellness space in 2017 with the acquisition of Miraval Group – a leader in wellness hospitality, with a highly-regarded portfolio of both spas and resorts.
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Luxury Hotels in the US
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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?
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This industry report originates from Passport, our
Luxury Hotels in the US - Category analysis
HEADLINES
PROSPECTS
Retail value and volume to register growth over the forecast period
The growth of “bleisure” gives hotels an opportunity to grow their revenues
“Smart” guest rooms are the future
COMPETITIVE LANDSCAPE
Airbnb moves further into the luxury space
Steering away from a formulaic approach
Investment in wellness sets brands apart
CATEGORY DATA
Table 1 Sales in Luxury Hotels: Value 2013-2018Table 2 Sales in Luxury Hotels: % Value Growth 2013-2018
Table 3 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017
Table 4 NBO Company Shares in Luxury Hotels: % Value 2013-2017
Table 5 LBN Brand Shares in Luxury Hotels: % Value 2014-2017
Table 6 Forecast Sales in Luxury Hotels: Value 2018-2023
Table 7 Forecast Sales in Luxury Hotels: % Value Growth 2018-2023
Luxury Goods in the US - Industry Overview
EXECUTIVE SUMMARY
The taste for luxury goods is changing in the US
Millennialisation and the role of experiences are shifting luxury
The competition varies within luxury goods categories
E-commerce continues to disrupt store-based retailing
Luxury goods is expected to see growth once again
MARKET INDICATORS
Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018MARKET DATA
Table 9 Sales of Luxury Goods by Category: Value 2013-2018Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023
SOURCES
Summary 1 Research SourcesRelated Reports
- Luxury Goods: How is Digital Shaping the Industry | Nov 2019
- Salvatore Ferragamo SpA in Luxury Goods | Oct 2019
- Spotlight on Luxury Travel: The Power of Nature | Oct 2019
- Luxury Goods: Half Year Update 2019 | Aug 2019
- Ralph Lauren Corp in Luxury Goods | Jul 2019