Luxury Business Will Continue to Boom, Says Report

    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.