United States Luxury Hotel Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 78.19 Billion |
| Market Size (2029) | USD 106.59 Billion |
| CAGR (2024 - 2029) | 6.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
United States Luxury Hotel Market Analysis
The United States Luxury Hotel Market size is estimated at USD 78.19 billion in 2024, and is expected to reach USD 106.59 billion by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).
The US luxury hotel market epitomizes opulence, sophistication, and top-tier hospitality, designed to cater to discerning travelers. These guests seek not just a stay but an experience that defines luxury. From iconic urban landmarks to serene resort getaways, US luxury hotels promise a diverse range of experiences, each crafted to surpass the expectations of even the most discerning patrons.
These hotels are renowned for their lavish amenities, meticulous attention to detail, and exquisite designs, creating sanctuaries of indulgence and relaxation. Be it Michelin-starred dining, world-class spas, or personalized concierge services, these establishments leave no stone unturned in ensuring an unforgettable guest experience.
Moreover, the US luxury hotel industry thrives on fierce competition and relentless innovation. Hoteliers consistently push boundaries, leveraging cutting-edge technology, championing sustainability, and forming exclusive partnerships with top brands. While the United States maintains its status as a luxury travel hub, the market adapts to embrace trends like wellness tourism and experiential travel, all while upholding its commitment to excellence and unparalleled hospitality.
United States Luxury Hotel Market Trends
The Growth of the Tourism Industry in the United States is Driving the Market
The expansion of the tourism industry in the United States is significantly boosting the luxury hotel market, fueling both demand and revenue. As the number of tourists increases, the need for accommodations rises, creating attractive opportunities for luxury hotels. This uptick in demand not only allows these hotels to attract travelers seeking top-tier experiences and amenities but also those willing to pay a premium for exceptional service.
Moreover, the uptick in tourism translates directly into higher revenues for luxury hotels. With more visitors exploring the country, these hotels enjoy increased occupancy rates, elevated room charges, and heightened spending on ancillary services such as dining, spa treatments, and exclusive experiences.
Furthermore, the robust growth in tourism is encouraging developers and investors to bolster their luxury hotel portfolios. This expansion may involve constructing new properties or revamping existing ones to meet the surging demand, further cementing luxury hotels' standing in the hospitality landscape.
The Influx of Tourists to Luxury Hotels in United States Boosting Market Growth
The surge in Chinese travelers to the United States is igniting growth within the luxury hotel market. Recent data indicates an expansion in the number of luxury hotels in the United States, reflecting a steady increase driven by rising demand from international and domestic markets for premium accommodations.
Luxury hotel chains like Four Seasons highlight China as a pivotal market, showcasing its significance as one of their top source markets. Revenue from Chinese travelers has demonstrated robust growth in recent years, underlining their increasing influence and purchasing power in the luxury hospitality segment.
As Chinese tourism continues to thrive, luxury hotel developers and investors are poised to capitalize on this trend. The sustained growth in luxury hotels underscores a commitment to providing exceptional experiences tailored to the preferences of affluent travelers, ensuring memorable stays for guests from around the globe.
United States Luxury Hotel Industry Overview
The landscape of the luxury hotel market in the United States is characterized by fragmentation, with numerous companies vying for market share. Nonetheless, medium-sized and smaller enterprises are broadening their reach by securing fresh contracts and venturing into untapped markets, leveraging advancements in technology and product offerings. Leading brands are establishing exclusive boutiques to showcase exceptional products.
Prominent players such as JW Marriott, Hyatt Corporation, Accor, InterContinental Hotels Group, and Rosewood Hotels hold significant sway in the US luxury hotel market.
United States Luxury Hotel Market Leaders
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JW Marriott
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Hyatt Corporation
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Accor
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InterContinental Hotels Group
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Rose Wood Hotel
*Disclaimer: Major Players sorted in no particular order
United States Luxury Hotel Market News
- April 2024: Marriott International announced its plans to accelerate its expansion across Europe by the end of 2026, targeting close to 100 hotel conversions and adaptive reuse initiatives.
- March 2024: Victoria Park Hotels and Marriott International partnered to bring Autograph Collection Hotels to Hong Kong.
US Luxury Hotel Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Travelers Embracing Luxury Lifestyles
4.2.2 Building Brand Reputation and Fostering Loyalty
4.3 Market Restraints/ Challenges
4.3.1 Shifting Tastes Among Consumers
4.3.2 Increasing Operational Expenses
4.4 Market Opportunities
4.4.1 Focusing on Specialized Markets
4.4.2 Technological Progress
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/ Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Service Type
5.1.1 Business Hotels
5.1.2 Airport Hotels
5.1.3 Suite Hotel
5.1.4 Resorts
5.1.5 Other Service Types
5.2 By Theme
5.2.1 Heritage
5.2.2 Contemporary
5.2.3 Modern
5.2.4 Other Themes
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 JW Marriott
6.2.2 Hyatt Corporation
6.2.3 Accor
6.2.4 InterContinental Hotels Group
6.2.5 Rose Wood Hotel
6.2.6 Rencho Valnecia Resort
6.2.7 Cavallo Point
6.2.8 Long Beach Lodge Resort
6.2.9 The Mark Hotel
6.2.10 Nimmo Bay, Great Bear Rainforest*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
9. ABOUT US
United States Luxury Hotel Industry Segmentation
A luxury hotel provides a premium lodging experience, catering predominantly to affluent clientele with a focus on top-tier services and gourmet dining.
The US luxury hotel market is segmented by service type (business hotel, airport hotel, suite hotel, resort and spa, and other service types) and theme (heritage, contemporary, modern, and other themes). The report offers market sizes and forecasts in terms of value (USD) for all the above segments.
| By Service Type | |
| Business Hotels | |
| Airport Hotels | |
| Suite Hotel | |
| Resorts | |
| Other Service Types |
| By Theme | |
| Heritage | |
| Contemporary | |
| Modern | |
| Other Themes |
US Luxury Hotel Market Research FAQs
How big is the United States Luxury Hotel Market?
The United States Luxury Hotel Market size is expected to reach USD 78.19 billion in 2024 and grow at a CAGR of 6.40% to reach USD 106.59 billion by 2029.
What is the current United States Luxury Hotel Market size?
In 2024, the United States Luxury Hotel Market size is expected to reach USD 78.19 billion.
Who are the key players in United States Luxury Hotel Market?
JW Marriott, Hyatt Corporation, Accor, InterContinental Hotels Group and Rose Wood Hotel are the major companies operating in the United States Luxury Hotel Market.
What years does this United States Luxury Hotel Market cover, and what was the market size in 2023?
In 2023, the United States Luxury Hotel Market size was estimated at USD 73.19 billion. The report covers the United States Luxury Hotel Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Luxury Hotel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Luxury Hotel Industry Report
Statistics for the 2023 US Luxury Hotel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Luxury Hotel analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
