Published on : Feb 17, 2016
The idea of vacations, staycations and travelling for business is being based on a luxury stay for the sheer convenience it offers. As a growing number of population is indulging in these ideas, the global luxury hotels market has surged ahead at an accelerated pace. Furthermore, as luxury hotels are also devising marketing strategies to make the best deals with the middle class clientele and start-ups to encourage them to spend on luxury hotels, which is also fueling the growth of this market. The global luxury hotels market has growing mainly due the fact that luxury is becoming common, affordable, and accessible to several classes of consumers across the world.
Increasing Disposable Income Gives a Boost to Global Luxury Hotels Market
The rising disposable incomes and growing popularity is the fundamental reason for the growth of the global luxury hotels market. As standard of living rises, several consumers are opting for stays at luxury hotels. This shift in preference is being complemented by the impactful branding and marketing strategies by some of the top players in the market such as The Indian Hotels Company Limited, ITC Hotels Limited, Starwood Hotels & Resorts, InterContinental Hotels Group PLC, and Four Seasons Holdings Inc.
Impactful Promotional Activities Drives Growth of Global Luxury Hotels Market
Promotional activities through development of application are also responsible for the exponential growth of the global luxury hotels market. Some of the marketing gimmicks used by hotels are advance services, online booking, and quick and easy check-in and check-out processes. The whopping success of the global luxury hotels market is largely attributable to the efforts pertaining to meeting consumer demands, which is forcing them to upgrade their services. Improved quality of service, which is the premise of hospitality industry, is primarily responsible for growth of this market.
The growing number of international events related to politics, sports, and conventions is also fueling the growth of this market. Inclusion of luxury services such as spa therapies, beauty services, and other relaxation amenities is yet another reason for several consumers across the globe to pick luxury hotels over others for spending leisure time.