+4% CAGR & COVID-19 Impact on Luxury Hotel Market Can See USD 128.7 Billion by 2027 Major Companies Are ITC HOTELS, Marriott International Inc., Accor S.A., Belmond Ltd
Global Luxury Hotel Market is valued approximately at USD 93.37 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.1% over the forecast period 2020-2027. The increase in purchasing power and quality of living is two of the most important reasons driving people to luxurious resorts. Demand for luxurious hotels for business meetings, corporate stays, and recreational vacations is the as more investment is poured into the economy.
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