Luxury is on the rise, according to Transparency Market Research’s newly published market report, “Luxury Hotels Market–Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2021.”
The global luxury hotels market was valued at $148.62 billion in 2014 and is expected to reach $195.27 billion by 2021, says the report. It suggests that business is booming for the segment due to the beneficial combination of increased standards of living and a healthy travel and tourism industry.
The report identifies United States, Germany, China, Brazil, and Saudi Arabia as the leaders of their respective parts of the globe.
