United States Luxury Hotel Market Report and Forecast 2024-2032

United States Luxury Hotel Market Report and Forecast 2024-2032

Market Outlook

According to the report, the United States luxury hotel market reached a value of USD 32.08 billion in 2023. Aided by the enduring allure of luxury accommodations, the market is projected to further grow at a CAGR of 5.6% between 2024 and 2032 to reach a value of USD 52.59 billion by 2032.

Luxury hotels in the United States are distinguished by their sumptuous accommodations, bespoke services, and exclusive amenities that cater to the discerning preferences of their guests. These establishments are often landmarks of architectural elegance, offering a blend of heritage and contemporary design, and are located in prime urban and resort destinations. From personalised concierge services to gourmet dining experiences and state-of-the-art wellness facilities, luxury hotels are synonymous with exceptional quality and memorable stays.

The resurgence of the United States luxury hotel market growth is driven by several key factors, including the growing affluence of domestic and international travellers seeking unique and personalised travel experiences. The market's growth is further fuelled by the increasing demand for wellness tourism, with luxury hotels investing in comprehensive wellness centres, spa services, and health-oriented programming to attract health-conscious travellers.

Moreover, technological advancements have become a significant growth driver, with luxury hotels leveraging technology to enhance guest experiences through digital check-ins, personalised room settings, and augmented reality tours, among other innovations. The emphasis on sustainable and eco-friendly practices is also attracting environmentally conscious guests, compelling luxury hotels to adopt green initiatives and sustainable operations.

The United States luxury hotel market outlook is being influenced by the emergence of innovative concepts that cater to evolving guest expectations. These include themed luxury hotels offering immersive experiences, boutique luxury establishments highlighting local culture and art, and ultra-luxury accommodations that redefine opulence with exclusive villas and private island resorts. Additionally, luxury hotels are increasingly incorporating smart room technology for customised comfort, alongside virtual reality experiences that allow guests to explore destinations and experiences within and beyond the hotel premises.

According to the United States luxury hotel market analysis, the market is characterised by its geographic diversity, with significant demand in major cities such as New York, Los Angeles, Miami, and Las Vegas, as well as in scenic destinations like Hawaii, the Florida Keys, and the Napa Valley. The regional distribution reflects varying guest preferences, from urban luxury retreats to serene beachfront and countryside resorts.

Market Segmentation

The market can be divided based on type, category, and region.

Market Breakup by Type

• Business Hotels
• Suite Hotels
• Airport Hotels
• Resorts
• Others

Market Breakup by Category

• Chain
• Independent

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States luxury hotel market. Some of the major players explored in the report are as follows:

• Rosewood Hotel Group
• Four Seasons Hotels Limited
• Hyatt Hotels Corporation
• Marriott International, Inc.
• Accor SA
• Intercontinental Hotels Group PLC
• Hilton Worldwide Holdings Inc.
• Rancho Valencia Resort & Spa
• Auberge Resorts LLC
• The Ritz-Carlton Hotel Company, L.L.C.
• Others

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