PUBLISHER: The Business Research Company | PRODUCT CODE: 1704359
PUBLISHER: The Business Research Company | PRODUCT CODE: 1704359
A five-star hotel is a luxury establishment known for its exceptional service, comfort, and amenities. It provides premium services such as fine dining and concierge assistance, designed to cater to both leisure and business travelers. A stay at a five-star hotel offers a superior experience with top-notch facilities and exclusive amenities that enhance comfort and convenience.
The main types within the five-star hotel market include business hotels, suite hotels, airport hotels, and resort hotels. Business hotels are tailored primarily for business travelers, featuring amenities such as conference rooms, high-speed internet, and business centers. The market includes both chain and independent hotels, with services spanning room accommodations, food and beverage, spa facilities, and other offerings.
The five star hotel market research report is one of a series of new reports from The Business Research Company that provides five star hotel market statistics, including the five star hotel industry global market size, regional shares, competitors with five star hotel market share, detailed five star hotel market segments, market trends, and opportunities, and any further data you may need to thrive in the five star hotel industry. These five star hotel market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The five star hotel market size has grown rapidly in recent years. It will grow from $134.37 billion in 2024 to $150.37 billion in 2025 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to growth of international travel and tourism, growth of global middle class, rise in consumer expectations for luxury amenities, growth of online booking platforms, and increase in investment in tourism infrastructure.
The five star hotel market size is expected to see rapid growth in the next few years. It will grow to $233.6 billion in 2029 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to increasing preference for premium hospitality services, growing business travel and corporate bookings, rising demand for sustainable and eco friendly hotel practices, rising demand for wellness and health focused amenities, and increasing adoption of digital booking platforms and mobile services. Major trends in the forecast period include integration of advanced digital technologies, implementation of personalized guest experiences, development of eco friendly infrastructure, implementation of smart room technologies, and integration of block chain for secure transactions.
The growth of the tourism sector is expected to drive the expansion of the five-star hotel market moving forward. The development of tourism is supported by economic growth and rising disposable incomes, which enable more people to travel. Improved transportation and infrastructure also make destinations more accessible, while advancements in technology enhance the booking and travel experience. Five-star hotels are often located in prime tourist destinations, boosting their prestige and reputation. This attracts both leisure and business travelers in search of high-quality experiences. For example, in March 2023, the Croatian Bureau of Statistics, a government agency in Croatia, reported that tourist arrivals in Croatia reached around 2 million, a 12% increase compared to November 2022. Additionally, overnight stays rose to 5.3 million, a 9% increase from the previous year, showing ongoing growth in the tourism sector even during the off-peak season. Therefore, the development of the tourism sector is driving the growth of the five-star hotel market.
Major players in the five-star hotel sector are expanding their offerings by introducing non-gaming hotels with high-end amenities. Non-gaming hotels focus on luxury accommodations without casino facilities, emphasizing premium features such as fine dining, spas, conference centers, and recreational activities. For instance, in March 2024, HCW Development LLC, a US-based real estate development and property management firm, unveiled Caesars Republic Scottsdale in Scottsdale, Arizona. This hotel represents the first non-gaming property under the Caesars brand in the United States, marking a strategic entry into the luxury lifestyle hotel segment. Caesars Republic Scottsdale is an 11-story glass structure with a modern design, featuring rich textures and a blend of soft curves and bold accents.
In December 2023, Dutco Group, a UAE-based hospitality company, acquired Mar Hall Hotel for $19.37 million. The acquisition is part of Dutco Group's strategy to reposition Mar Hall Hotel, Golf, and Spa Resort as a premier luxury destination. The transformation will include the addition of new woodland lodges, upgraded leisure and spa facilities, and a complete refurbishment of guestrooms and public areas. Mar Hall Hotel, Golf & Spa Resort, located in the UK, is known for its luxury accommodations, golf courses, and spa services.
Major companies operating in the five star hotel market are Marriott International Inc, Radisson Hotel Group, Kohler Co., Rosewood Hotels & Resorts LLC, Hilton Worldwide Holdings Inc., ITC Limited, Hyatt Hotels Corporation, Four Seasons Hotels Limited, Accor S.A., InterContinental Hotels Group PLC, Kerzner International Holdings Limited, Kempinski Hotels S.A., The Trump Organization, Jumeirah International LLC, Shangri-La International Hotel Management Ltd, Belmond Management Limited, The Peninsula Hotels, Mandarin Oriental Hotel Group International Limited, Soneva, Banyan Tree Hotels & Resorts, Capella Hotel Group, Leela Palaces and Resorts Limited, The Oberoi Group, The Indian Hotels Company Limited, Anantara Hotels, Resorts & Spas
North America was the largest region in the five star hotel market in 2024. The regions covered in the five star hotel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the five star hotel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The five star hotel market includes revenues earned by entities by providing services such as luxury accommodation, fine dining, concierge services, and personalized guest experiences. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Five Star Hotel Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on five star hotel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for five star hotel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The five star hotel market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.